Shares tumbled on both the national stock exchanges on April 23 after an unexpected rebound on the previous day, as investors feared a likely bull trap.

On the Hochiminh Stock Exchange, the VN-Index slightly dropped by 0.09 percent, or 0.51 points, to end at 569.36 points with declined liquidity.

Only more than 71 million shares changed hands with a total value of 1.2 trillion VND (57.1 million USD), easing 28 percent and 25 percent, respectively, over the previous trading session.

The April 22 rebound did not last as investors feared being caught in a bull trap, thereby resulting in low buying demand as sellers were forced to lower stock prices.

On the southern bourse, 77 codes managed to close higher, while up to 152 codes lost values.

Two-thirds of the market pillars posted losses on April 23, causing the VN30-Index, which tracks the largest stocks by capitalisation and liquidity, to fall by 0.17 percent to end at 629.78 points.

On the Hanoi Exchange, the HNX-Index ended at 79.9 points and the HNXFF-Index, composed of stocks with minimum free float rate of 5 percent, closed at 81.04 points, respectively dropping 1.19 percent and 1.21 percent lower than the previous day.

Losses were registered by blue chips with the HNX30-Index losing 1.89 percent or 3.1 points to end at 160.94 points.

The trading volume and value on the northern bourse reached 56 million shares and nearly 534 billion VND (25.4 million USD), 13 percent and 18 percent lower than the previous session.-VNA