National stocks continued to tumble on July 10. The coming trend for the two composite indices has been declining, said Kim Eng Securities Co analysts.

"Meagre trading has discouraged speculators and even sellers, as many codes have been declining by 5-10 percent during the recent two weeks," stated Wall Street Securities Co analysts.

The current downturn in the economy is a great challenge, they added.

Only a few months earlier, the market witnessed around 150-200 million shares change hands with a total value up to 2-3 trillion VND (95.2-142.8 million USD) per session, but trading is currently sluggish. "The sudden change made investors uncertain about market prospects," they said.

Statistics show that during 5 years between 2007 and 2011, the Vietnamese stock market in July tumbled three times in 2007, 2010 and last year. The common feature of those declines was low liquidity.

"Therefore, investors were wise to hold cash and stay outside," Wall Street Securities Co analysts said.

Shares fluctuated on the HCM Stock Exchange on July 10, and the benchmark VN-Index finally closed down nearly 0.7 percent to 405.39 points.

Market value, however, increased 6.6 percent over the previous session's level, reaching 474 billion VND (22.5 million USD). Around 28.7 million shares were exchanged, reaching 89.7 percent of the previous session's volume.

Blue chips continued to lose value. Only food processor Hung Vuong (HVG), Phu Nhuan Jewelry (PNJ) and property developer Quoc Cuong Gia Lai (QCG) of the 30 leading shares tracked by the VN30 advanced.

The VN30 retreated 0.6 percent to stand at 479.58 points.

On the Hanoi Stock Exchange, the HNX-Index closed at 67.89 points, off 0.45 percent on a total turnover of just 220.9 billion VND (6.2 million USD), declining 16 percent.

The HNX30 slid 0.7 percent to close at 126.46 points on July 10.

With some 2.6 million shares changing hands, PetroVietnam Construction Co (PVX) was the most active code. The share remained unchanged at a close of VND8,900.-VNA