Shares fall on weak market outlook

Shares continued to decline on April 28 afternoon on the two national exchanges with investors cautious about the gloomy market outlook.

On the Hochiminh Stock Exchange, the VN-Index lost over 1 percent to close the session at 573.10 points.

Blue chips lost ground across the board, dragging the VN30 down 1.17 percent to end at 628.90 points.

Twenty of the top 30 shares by market value and liquidity posted losses.

"While the market lacked positive news ahead of the five-day holiday in commemoration of National Reunification and May Day, waning liquidity also eroded investor confidence in the market outlook," stock analysts of FPT Securities Co commented on the company's website.

On the Hanoi Stock Exchange, the HNX-Index fell 1.15 percent to close at 79.65 points, while the HNX30 tracking the top 30 shares by market value and liquidity on the northern bourse was also down 1.49 percent at 159.67 points.

Investors were net sellers to avert downward risks which pushed down liquidity.

The market volume and value declined over 10 percent from the previous session to 36 million shares worth 371 billion VND (17.6 million USD), the lowest volume since January 24.

Foreign investors were net buyers on the two exchanges, but their total net value was modest at just 8.5 billion VND (403,000 USD).-VNA

Source: Vietnamplus

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