VCSC Daily - VN-Index tumbles to 16-month low

* National Assembly Standing Committee lowers environmental protection taxes for petroleum products

* POW: Nhon Trach 3 & 4 LNG-fired project progressing – Analyst Meeting Note

* Market wrap: VN-Index tumbles to 16-month low

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Market wrap: VN-Index tumbles to 16-month low

On Wednesday VN-Index tumbled 2.7% to a 16-month low of 1,149.61, mirroring other Asia-Pacific markets that traded lower.

* The Vingroup family of stocks weighed heavily on the index. Parent company VIC (-6.6%) was the top contributor to the day’s loss, and subsidiaries VHM (-2.3%) and VRE (-7.0%) also dropped.

* GAS (-7.0%) has plunged 18.1% over the last five trading days.

* Banks VCB (-1.6%), CTG (-4.3%), BID (-2.4%) and VPB (-2.4%) declined.

* MSN (-2.0%) has fallen 12.3% over the last five trading sessions.

* Brewer SAB (+1.2%) snapped a three-session losing streak and was the day’s top contributing gainer.