The VN-Index ended lower on June 3 despite a high opening note in the morning, dragged down by blue chips.

On the HCM Stock Exchange, the benchmark VN-Index edged down 0.42 percent to close the session at 567.90 points while the VN30, which tracks the 30 shares with the highest market value and liquidity, slumped 0.51 percent to end at 585.60 points.

The positive development was that the number of gaining stocks doubled that of the losers.

Blue chips were main drag in the market on June 3 as large-cap shares like Military Bank (MBB), Hoa Phat Group (HPG), FLC Group (FLC), Vietcombank (VCB) and Eximbank (EIB) lost substantial values.

Analysts at the Investment Vietnam Securities Co. said buying power remained positive as bargain investors were waiting for further declines to purchase. In addition, continuous buys by foreign investors would continue to support the market.

"The downward correction is expected to be modest and the landmark of 560 points should be the first support level for the VN-Index," they wrote in a note.

Liquidity increased slightly on June 3 with a total of 125.5 million shares worth 2.07 trillion VND (95.4 million USD) being traded by the end of the session.

HCM City Infrastructure Investment Co (CII) continued to top the market in terms of the trading volume with a whopping 28.5 million shares traded. Its prices soared 6.63 percent to close at 20,900 VND (96 US cents) a share.

June 3 was the first day that Vinaphil Technical Infrastructure Investment Co, a major shareholder of CII, began the sale of its entire holding of 22.3 million CII shares. The sale will happen from June 3 to July 2. Vinaphil had sold another 10 million CII shares last week.

On the Hanoi Stock Exchange, the HNX-Index still added 0.99 percent to finish the session at 83.95 points.

Liquidity was built as the market volume rose 8 percent over June 2, totaling 58.5 million shares, while the value of trades climbed 22.5 percent to reach nearly 785 billion VND (36.2 million USD).

F.I.T Investment Co (FIT) was the most active stock in the Hanoi market on June 3 with 4.7 million shares traded. Its prices jumped 5.44 percent to end at 15,500 VND (0.71 USD) each.

Foreign investors were mixed on June 3. They turned heads to end as net sellers in HCM City after a long streak of net buying, unloading shares worth 96 billion VND (4.4 million USD); but remained net buyers in Hanoi with a modest value of 40 billion VND (1.8 million USD).-VNA