Roundup: Vietnam's Hanoi stock market plunges with low liquidity, risk remains high

Vietnam's capital Hanoi stock market continued to plunge further on Friday with the market seeing liquidity decrease by 6.97 percent from a week ago.

The HNX-Index closed at 86.32 points on Friday, up 0.24 points, or 0.28 percent, against the previous trading session, but lost 0. 75 points or 0.86 percent on a weekly basis.

During the week, the index witnessed two ups and three downs, with the highest level of 87.00 points on Wednesday and the lowest level of 85.93 points on Monday.

Last week, the HNX-Index fluctuated between 87.92 points and 88. 74 points.

A total of 43.897 million shares worth 536.259 billion Vietnamese dong (24.85 million U.S. dollars) were traded on Friday, a decrease of 9.77 percent in volume and 16.42 percent in value against the previous trading session.

Prices of 89 stocks went up; 102 stocks fell down, while 67 stocks remained unchanged.

During the week, foreign investors accelerated their selling activity. From Monday to Friday, foreign investors bought nearly 4. 972 million shares while sold over 4.998 million shares.

In the previous week, they bought over 6.86 million shares and sold over 1.99 million shares, according to statistics by the Hanoi Stock Exchange.

Analysts said that downward adjustment at the beginning of the week showed negative sentiment of investors. As the HNX-Index already broke the resistance level of 87 points, investors should wait for new signal from the market.

Market risk remains high and the range of 84.5-85 points will serve as support level for the index in the short term, analysts said.

The market data showed that there are still signs of selling trend, therefore, the market is expected to remain sluggish in the next sessions, said analysts. Endi