VCSC Daily - Stocks sink as banks tank - VND, FPT, PVD, HVN

After small losses the previous two days, the VN-Index plunged 2.7% on Thursday. Banks sold off hard in the afternoon session, led by VCB (-5.0%), which hit a four-month low. BID (-6.6%), CTG (-6.7%), VPB (-5.9%), MBB (-5.3%) and HDB (-6.8%) also fell sharply. VND (-6.9%) dropped to its trading floor for a second day amid an investigation into a company VND has a 15% stake in that police say facilitated online gambling (see our note above for more details).