Benchmarks indices on the two national stock exchanges closed down on meagre trading on June 28 as investors remained cautious about the long-term health of the market.

On the HCM Stock Exchange, the VN-Index closed at 432.31 points, a loss of 0.45 percent despite a strong opening to the day's session. The value of trades retreated vigorously from June 27's level of more than 1 trillion VND (51.5 million USD) to just 336 billion VND (16.3 million USD), on a volume of 21 million shares.

Decliners outnumbered advancers by 135-74, with many blue chips losing value, including dairy producer Vinamilk (VNM), down 2.7 percent; Vietinbank (CTG), down 2.5 percent; PetroVietnam Finance (PVF), down 1.5 percent; and real estate developer Hoang Anh Gia Lai (HAG), down 1 percent.

Saigon Securities Inc (SSI) was the most-active share with 1.24 million changing hands. SSI also closed down by 2.1 percent to 18,300 VND (0.9 USD) a share.

On the Hanoi Stock Exchange, the HNX-Index dived by another 1.2 percent to close at 74.71 points, with losers outnumbering gainers by 61-202. The value of trades jumped 42.5 percent over June 27's session and surpassed that of the HCM City market, reaching 418.5 billion VND (2 million USD) on a volume of 35 million shares.

Kim Long Securities (KLS) was again the most heavily-traded stock nationwide with 3.7 million shares exchanged, closing down 2.6 percent to 11,300 VND (0.50 USD) per share.

Foreign investors concluded June 28 as net sellers on both exchanges, unloading 1.6 million shares worth a combined 19 billion VND (922,300 USD) after buying at their highest level since the beginning of the year on June 27.

The market reports of many securities companies forecast that the nation's stock market would continue to tread water on low volume and value in the final sessions in June, with investors likely to sit out the market.

Bao Viet Securities Co analysts said an uptrend or downtrend was unlikely to develop strongly, and they predicted that second-quarter earnings results of listed companies, expected to begin trickling out this week, would help improve investor sentiment.

The market was also expected to react to news that lending interest rates at many securities firm were beginning to decline, signaling a slight easing of credit in the near future./.