Roundup: Vietnam's capital Hanoi stock market dips further

Vietnam's Hanoi stock market on Friday dipped further to the 78-point level, extending the downward trend for the fifth consecutive week.

The HNX-Index, the benchmark of the Hanoi Stock Exchange, closed at 78.09 points on Friday, down 0.2 points, or 0.26 percent, from the previous trading session.

A total of 50.079 million shares worth some 510.625 billion Vietnamese dong (23.42 million U.S. dollars) were traded at the exchange, an increase of 50.94 percent in volume and 25.10 percent in value against the previous trading session.

Prices of 69 stocks went up, 104 stocks fell down, while 65 stocks remained unchanged.

On a weekly basis, the HNX-Index decreased 0.2 points or 0.26 percent.

During the week, the index witnessed two ups and three downs, ranging between 78.09 points to 78.72 points, compared with one between 78.29 points and 79.33 points last week.

On a yearly basis, the HNX-Index decreased by 4.89 points, or 5.89 percent as of Friday.

According to analysts, this is the fifth consecutive week that the Hanoi Stock Exchange has been in the downward trend.

Christmas holiday is seen as the major reason for this week's drop as most foreigners stopped buying or selling in the market.

It was expected that the recovery of global crude oil prices would help oil and gas shares gain strong rally. However, oil and gas shares stopped the upward trend on Friday after climbing for several consecutive sessions in the week. Enditem