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Roundup: Vietnam's Hanoi stock market extends falling trend with low trading volume

Xinhua, June 26, 2015 Adjust font size:

Vietnam's capital Hanoi stock market extended the falling trend to the second week with low trading volume.

As of Friday, the HNX-Index, the benchmark of the Hanoi Stock Exchange, lost 1.58 points or 1.81 percent against last Friday's closing session.

Trading volume on the Hanoi bourse saw a decrease of 19.3 percent compared to the previous week. The market downward adjustment led to investors' caution which contributed to the plunge in trading volume, said stock analysts.

Compared to the last trading session in 2014, the HNX-Index posted an increase of 2.54 points or 3.06 percent.

During the week, the index witnessed five straight downs, falling from 87.09 points on Monday to 85.52 points on Friday.

By comparison, in the previous week, the HNX-Index fluctuated between 86.49 points and 88.36 points.

On Friday, the Hanoi bourse closed at 85.52 points, down 0.93 points, or 1.07 percent, against the previous trading session.

A total of some 60.86 million shares worth over 763.567 billion Vietnamese dong (35.35 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday, an increase of 27.46 percent in volume and 35.17 percent in value against the previous trading session.

Prices of 93 stocks went up, 112 stocks fell down, while 61 stocks remained unchanged.

Foreign investors continued their buying trend during the week. From Monday to Friday, foreign investors bought nearly 5.84 million shares while sold out over 3.78 million shares on the Hanoi bourse.

In a related move, Vietnamese Prime Minister has signed a decree that lifting foreign ownership limit on publicly listed companies.

Accordingly, the foreign ownership limit will be raised to 100 percent from the current 49 percent in most sectors, except for those in banking sector, among others.

Stock analysts said the lifting of foreign ownership limit is expected to pave way for more foreign capital into the country's securities market.

The new decree, 60/2015/ND-CP, will take effect from Sept. 1, 2015. Endi