Huge sales pushed the VN-Index down 0.13 percent to close at 582.11 points, snapping its nine-day gaining streak on the HCM Stock Exchange.

The day’s revenue hit a record high of 4.4 trillion VND (247.2 million USD), as trading volume increased 23 percent over Sept. 22 session to 82.6 million shares. Sacombank (STB) still proved the most active, accounting for 8 percent of the volume, with 7.5 million shares changing hands.

A series of shares hit the ceiling of the regulated trading band early on Sept. 23, lifting the Index up to 595 points, but heavy sales reversed its direction by the end of the day.

On the Hanoi Stock Exchange, the HNX-Index continued to rise, ending up 0.81 percent at 181.08 points, a move driven by gains in most major stocks including Kinh Bac Urban Development (KBC), PetroVietnam Insurance (PVI) and Bao Viet Securities (BVS).

Trading volume rose by 36 percent from the previous session to 54.2 million shares, on a total turnover of 2.2 trillion VND (123.6 million USD). Vinaconex Group (VCG) led the northern market with 6.4 million shares traded, representing 12 percent of the volume.

VCG and other construction shares in the Song Da family continued to gain value on Sept. 23, but their increases slowed as a result of heavy sales.
Sacombank Securities Co general director Nguyen Ho Nam said that the amount of money poured into investor accounts at the company had now increased 30 percent compared with two months ago. Meanwhile, Dong Duong Securities Co deputy general director Vu Tran Duong reported that the value of investor cash accounts here had doubled over July.

Duong added that most investors did not withdraw money after unloading shares, but kept it in their accounts and waited for new investment opportunities.

Investors now appeared confident in market rally prospects, Vietnam Capital Securities Co analysts said, with improvement in the economy as a basis for their expectations on satisfactory business performance. Economic growth, industrial production and inflation figures were supporting market increases, they said. In HCM City, foreign investors continued on as net sellers of about 577,000 shares, with a net value of 153 billion VND (8.6 million USD) and a most overall value of 7.8 million shares. Foreigners accelerated trading in Hanoi , however, with a total of 2.3 million shares changing hands. They finished the day as net buyers of 1.1 million shares, worth 33.8 billion VND (1.9 million USD)./.