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VCSC Daily - Stocks extend sharp pullback - PNJ, GTN, VCB

The VN-Index suffered another wave of selling on Monday, closing down 3.3%. The index has plunged 23% since reaching a record high on April 9 and is down 13% in less than two weeks. Since peaking in last month, the market has suffered four days of declines of more than 3% and seven days between 2% and 3%. The selling was fairly indiscriminate, hitting banks (VCB -6.4, CTG -6.9%, BID -6.9%, VPB -7.0%, MBB -6.7% and HDB -7.0%), energy (GAS -6.9%, PVD -6.8%, PVT -4.7%, and PVS -9.8%)