After an explosion in morning with the VN-Index touching 514 points, several blue chips retreated in the afternoon, pulling the index to close at 509.43 points on April 2 on the Ho Chi Minh Stock Exchange.

Trading on the southern bourse was busy with nearly 70.3 million shares, worth 1.46 trillion VND (69.5 million USD), changing hands – an increase of 30 percent in volume and 15 percent in value compared to the previous session.

Investors became more confident when the VN-Index surpassed the important psychological landmark of 500 points during the week’s first session.

However, many analysts fear that this was the result of blue chip increases that may not last because investors will soon sell for higher prices to lock in profits.

The VN30 went up 1.15 percent to 573.5 points, with 19 of the top 30 shares led by market capitalisation and liquidity climbing and only three codes declining.

Vietinbank (CTG) was the most active code during the day with 7.5 million shares changing hands, of which foreign investors bought 2.2 million, helping lift the shares by 4.7 percent to 20,000 VND a share by the end of the session.

Meanwhile on the Hanoi Stock Exchange, the HNX-Index declined abruptly in the last minutes, losing 0.68 percent to finish the session at 61.09 points.

More than 49.5 million shares worth nearly 418.2 billion VND (19.9 million USD) were traded. Sai Gon-Hanoi Bank (SHB) continued to claim the position of the most active code nationwide on trades of 10.9 million shares, but edged down 1.45 percent to 6,800 VND a share.

Foreign investors also participated actively in the market on the day, concluding as net buyers on both exchanges. They were responsible for a combined net buy of nearly 235 billion VND (11.2 million USD).-VNA