Stocks opened high in HCM City but lost value by the end of the June 13 session, dragged down by a slump in large-cap shares.

On the HCM Stock Exchange, the VN-Index fell 0.6 percent to close at 515.09 points, while the VN30 tracking the top 30 shares by market capitalisation and liquidity was down 0.63 percent to 571.79 points.

Big private sector group Masan (MSN) led the downturn with a 5.2 percent loss at 99,500 VND (4.7 USD) a share. This is the fastest decline MSN has seen during the past six months.

Eximbank (EIB) followed with a 2.6 percent decrease to 14,700 VND (0.7 USD). Other shares such as insurer Bao Viet (BVH), real estate developer Vingroup (VIC), Vinamilk (VNM) and Phu Nhuan Jewelry (PNJ) dropped between 0.7-1.9 percent.

Only one third of the blue chips managed to advance.

More than 62.5 million shares worth over 1 trillion VND (47.6 million USD) were exchanged by the end of the day.

Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index edged 0.5 percent up to 65.64 points on a trading value of nearly 621.5 billion VND (29.5 million USD).

The HNX30, which represents the northern bourse's top 30 stocks, put on 0.8 percent to reach 126.63 points.

Ocean Hospitality and Service (OCH), one of the shares tracked by the HNX30, plans to shift from the Hanoi Stock Exchange to the HCM City Stock Exchange this year. The company will also double its charter capital to 2 trillion VND (95.2 million USD).

Foreign investors shifted to be net sellers on both exchanges by a total margin of 77.5 billion VND (3.7 million USD).

"The resilience of the market is challenged by foreign investors restructuring their portfolios," noted FPT Securities analysts.

Meanwhile, benchmark indices were facing strong medium and long-term resistance levels, they added. "The net selling activities of foreign players will probably make this decline longer than expected."-VNA