The VN30-Index, which represents the market’s 30 largest cap stocks, also fell 0.72 percent, while smaller indexes HNX-Index (Hanoi Stock Exchange) and UPCOM-Index (Unlisted Public Companies Market) edged down 0.99 percent and 0.1 percent respectively.

VN-Index had lost a total of nearly 33 points, or 3.3 percent, after the three consecutive sessions, from 977.39 points last Thursday. However, analysts have noted that the decline has slowed compared to Monday’s 1.81 plunge, with bottom-fishing cash flowing into the market and many stocks rebounding to their initial prices.

The VN-Index initially fell 15 points in the morning, but narrowed the drop to over 8.5 points as some blue-chips gained in the afternoon. VIC shares of Vingroup gained 1.5 percent, PNJ of Phu Nhuan Jewellery rose 3.8 percent, and MWG of Mobile World went up 0.5 percent.

While other blue-chips like MSN of Masan Group and VHM of Vinhomes continued their falling momentum, smaller cap stocks for industrial and manufacturing sectors, expected to benefit from diverted investment as the trade war escalates, again recorded strong gains.

Foreign investors continued to offload a net VND290 billion ($12.5 million) worth of stocks on Vietnam’s exchanges, slightly lower than the net sales figure Monday.

Losses spread in the Asia-Pacific region Tuesday with indexes from Tokyo to Hong Kong falling sharply. Shanghai and Sydney shed 2.6 percent, while Manila and Wellington were also down around two percent as U.S. – China dispute turned into a “currency war,” Al Jazeera reported.

The benchmark index fell 6.29 points to close at 991.1 points, with 144 stocks gaining and 169 losing.

The VN30-Index, which represents the 30 largest cap stocks, lost 2.1 points (0.24 percent) to close at 885.29 points.

The HNX-Index in Hanoi and the UPCoM-Index of unlisted public companies lost 0.17 percent and 0.44 percent.

In the morning Vietnamese stocks followed regional movements and opened almost 10 points lower at 987.55.

However, unlike the Chinese Shanghai Composite and Japanese Nikkei 225, which closed 1.41 and 2.11 percent down, the Vietnamese market clawed back some of its losses in the afternoon as investors began buying manufacturing stocks.

Stocks of industrial parks saw unusually strong gains, with Sonadezi Corporation rising by 13 percent, Sai Gon VRG Investment Corporation by 8.9 percent and some others by over 8 percent.

Volatile sectors such as securities, real estate, construction, and oil and gas came under strong selling pressure. State-owned natural gas company PetroVietnam Gas JSC lost 2.3 percent and Vietnam’s biggest private conglomerate, Vingroup, declined by 1.9 percent.

Foreign investors were net sellers to the tune of VND201.61 billion ($8.74 million), twice the previous day’s value.