Shares declined on sluggish trades on June 12, tracking tumbling global markets overnight.
The combined volume of trades on both of the nation's stock exchanges dropped to less than 29 percent of the June 11 level.
"Since last year, the level of correlation between the Vietnamesemarket and global markets has clearly increased," Kim Eng Securities Coanalysts wrote in note on June 12.
The VN-Index has posted three consecutive declining sessions, typically not a good sign, they added.
"Technically, there are no signals coming from prices as the twoindices are still trading below their resistance levels," they said.
On the HCM Stock Exchange on June 12, the VN-Index closed down by about1 percent to 428.16 points and the value of trades reached only 838.4billion VND (39.9 million USD) on a volume of just over 57 millionshares.
Over 70 percent of codes closed unchanged, while41 advanced and 45 declined, including most blue chips. However,Vietinbank (CTG) and property developer Hoang Anh Gia Lai (HAG) wereable to buck the trend, gaining 0.5 and 0.4 percent, respectively.
The VN30 Index, tracking the city's 30 leading stocks in terms ofcapitalisation and liquidity, reached 506.49 points, a decline of 0.7percent from the prior session.
On the Hanoi StockExchange, the HNX-Index shed 1.6 percent to close at 74.60. Over half oflisted codes dropped points, while value shrank to a mere 458.2 billionVND (39.5 million USD) on a volume of only 43.45 million shares,respectively.
Bao Viet Securities Co analysts predictedthat the European debt crisis can have significant adverse impacts onVietnamese exports and flows of foreign investment.
Notable is that overall market capitalisation has increased recentlywith the listing of a number of new shares, but liquidity and indiceshave fallen.
"The increasing number of new and additionallistings this year has actually been a barrier to the growth of themarket," they commented. Nevertheless, they predicted that strongdomestic investment will enable markets to rally this month. -VNA
The combined volume of trades on both of the nation's stock exchanges dropped to less than 29 percent of the June 11 level.
"Since last year, the level of correlation between the Vietnamesemarket and global markets has clearly increased," Kim Eng Securities Coanalysts wrote in note on June 12.
The VN-Index has posted three consecutive declining sessions, typically not a good sign, they added.
"Technically, there are no signals coming from prices as the twoindices are still trading below their resistance levels," they said.
On the HCM Stock Exchange on June 12, the VN-Index closed down by about1 percent to 428.16 points and the value of trades reached only 838.4billion VND (39.9 million USD) on a volume of just over 57 millionshares.
Over 70 percent of codes closed unchanged, while41 advanced and 45 declined, including most blue chips. However,Vietinbank (CTG) and property developer Hoang Anh Gia Lai (HAG) wereable to buck the trend, gaining 0.5 and 0.4 percent, respectively.
The VN30 Index, tracking the city's 30 leading stocks in terms ofcapitalisation and liquidity, reached 506.49 points, a decline of 0.7percent from the prior session.
On the Hanoi StockExchange, the HNX-Index shed 1.6 percent to close at 74.60. Over half oflisted codes dropped points, while value shrank to a mere 458.2 billionVND (39.5 million USD) on a volume of only 43.45 million shares,respectively.
Bao Viet Securities Co analysts predictedthat the European debt crisis can have significant adverse impacts onVietnamese exports and flows of foreign investment.
Notable is that overall market capitalisation has increased recentlywith the listing of a number of new shares, but liquidity and indiceshave fallen.
"The increasing number of new and additionallistings this year has actually been a barrier to the growth of themarket," they commented. Nevertheless, they predicted that strongdomestic investment will enable markets to rally this month. -VNA
