After a week of gains, shares stumbled into a new week on May 31, with declines in the leading indices on both national stock exchanges and greatly reduced trading volumes and values.

On the HCM Stock Exchange, the VN-Index closedown 1.08 percent of 507.44 points. The value of trades was 1.45 trillion VND (76.3 million USD), a decline of 26 percent from May 28’s level, on a volume of 44.6 million shares.

Over 70 percent of codes posted losses on May 31, including such blue chips as Sacombank (STB), Saigon Securities Inc (SSI), Vietcombank (VCB), Tan Tao Investment Industry (ITA), Kinh Bac City Development Share Holding Co (KBC) and PetroVietnam Drilling and Well Services (PVD).

On the Hanoi Stock Exchange, the HNX-Index lost 1.87 percent on the day to close at 183.6, widening its May losses to 8.95 percent, the largest monthly loss in the year.

Technical errors occurring in the early minutes of trading on the northern bourse did not affect the day trades much. Trading volume fell by over 33 percent to nearly 30 million shares, while the value of trades declined 30 percent to 999 billion VND (52.6 million USD).

Decliners outnumbered gainers by 188-77, with many shares that rose robustly last week dropping to the floor on May 31, including CMC Co (CVT), Can Tho Pesticides Co (CPC), Thang Long Telecommunications Co (TLC), Mechanical Installation Co (L35). PetroVietnam Construction (PVX), the most active share on the Hanoi bourse with a volume of over 3.4 million, lost 2.61 percent of its value.

With the exception of construction giant Vinaconex (VCG) - which ran against the tide and gained an impressive 2.47 percent on the day – most blue chips tumbled, including PetroVietnam Insurance (PVI), Kim Long Securities (KLS) and Bao Viet Securities (BVS).
Foreign investors continued to increase their holdings of blue chips and concluded on May 31 as net buyers on the HCM City market by a net volume of 2.4 million shares, worth a net of 119 billion VND (6.3 million USD). Ending May, their net purchase value reached over 1.14 trillion VND (60.2 million USD), with Saigon Securities Inc (SSI) the top buy./.