Significant buys early in the day softened July 8’s overall market decline, as the VN-Index closed down a negligible 0.19 percent to 446.79.

Overall market activity fell from July 7, with trading volume reaching only 31.2 million shares and the day’s value of 1.2 trillion VND (67.4 million USD), down 29.4 percent from July 7’s total. Market-leader Sacombank (STB) preserved the lead position with a volume of 6.4 million shares.

On the Hanoi Stock Exchange, the HNX-Index closed down nearly 1 percent to 149.26, as trading volume tumbled 27.7 percent from July 7 session to just 11.2 million shares, worth a combined 365.8 billion VND (20.6 million USD).

Kim Long Securities (KLS) and Asia Commercial Bank (ACB) were the most active shares on the Hanoi bourse, with 1.7 million units traded each, and construction giant Vinaconex Group (VCG) was the runner-up with a volume of 1.3 million shares.

HCM Stock Exchange general director Tran Dac Sinh told Dau tu Chung Khoan (Securities Investor) that market moves were being driven by psychological factors for individual investors, who represented 70 percent of market trades. When the ratio between individual and institutional investors were more balanced, market transitions would be smoother, he said.

While domestic investors were demonstrating uncertainty, foreign investors became net buyers on July 8 on both the HCM City and Hanoi markets. They picked up a net of 1.6 million shares, with significant buys in Hoa Phat Group (HPG) and Song Da Urban Development (SJS) in HCM City , and in Tien Phong Plastics (NTP) and KLS in Hanoi .
The UpCoM market remained sluggish, meanwhile, with trading volume at just 308,200 shares, worth a total 4.1 billion VND (230,337 USD). The UPCoM-Index fell for the third straight day to 72.26 points, a slump of 2.69 percent, as all of the 10 listed shares closed down. SME Securities still held the position as the most active share, with 94,180 traded./.