The stock market fell on both bourses on May 29 as foreign investors continued to reduce their total net buy value by two thirds to 18.2 billion VND (842,000 USD).

They also increased the sale of their blue chips on the market, especially bank shares, gas shares and securities shares, to ensure a bad trading session.

On the Hochiminh Stock Exchange, the VN-Index lost 0.6 percent to finish at 569.56 points.

The VN30 Index, covering the 30 largest shares on the market in terms of liquidity and market value, dropped 0.83 percent to stand at 589.32 points.

In this basket, 20 codes declined while only six rose.

Among six rising shares in the VN30 basket, Ocean Group JSC (OGC) continued to hit the ceiling price at 2,800 VND and traded nearly 14.4 million shares.

The three largest shares, Vingroup (VIC), Vinamilk (VNM) and Ma San Group (MSN), dropped 0.63, 0.94 and 0.59 percent, respectively.

Market liquidity dropped from Thursday's number. Nearly 136 million shares were traded, worth 1.9 trillion VND (89 million USD), a decrease of 16.8 percent.

Among bank shares, Vietcombank (VCB) was the only large-cap that improved. But it gained 0.46 percent, which was not enough to cope with Military Bank (MBB) and Sacombank (STB), whose market values fell by 0.72 and 2.7 percent.

Most gas stocks decreased. Only two of them, Petro Capital & Infrastructure Investment JSC (PTL) and Petroleum Industrial & Civil Construction JSC (PXL), remained flat by the end of the day.

It was also a bad day for most securities stocks. Thien Viet Securities JSC (TVS) was the only one that rose. The others stayed flat, like Agribank Securities JSC (AGR), or decreased like HCM City Securities Corporation (HCM).

On the Hanoi Stock Exchange, the HNX-Index edged down 0.5 percent to end at 83.23 points. The number of gainers comprised two-thirds of the number of decliners – 78 to 117.

The HNX30 Index also lost 0.61 percent to 168.01 points with 20 decliners and only 4 gainers.

Like the southern stock market, foreign investors also sold large-cap shares, including banks and gas companies.

KLF Joint Venture Global Investment Company (KLF) traded more than 6 million shares to top the market, but the share lost 2.6 percent to stand at 7,500 VND.

Gas stocks also suffered losses in market value from foreign sales. Petro Vietnam Construction JSC (PVX), Drilling Mud Corporation (PVC) and Petroleum Technical Services Corporation (PVS) lost 2.44, 1.36 and 1.56 percent.

On the market, nearly 72 million shares were traded for a total value of 780.8 billion VND (36 million USD), an increase of 38.4 percent.-VNA