UPDATE 1-Vietnam Index Loses 2.67 Pct, to Fall More

Foreigners bought 268.04 billion dong ($12.87 million) worth of shares and sold stocks valued at 138 billion dong, the exchange said.

Volume of shares traded: 154.49 million shares.

Value: 2.16 trillion dong.

In Hanoi, the HNX Index on the Hanoi Stock Exchange eased 0.77 percent to finish at 75.20 percent, with 183.12 million shares traded, valued at 1.65 trillion dong.

Broker/trader comments

Nguyen Hoang Long, director of brokerage, An Binh Securities:

“With the combined volume on the both exchanges rocketing, stocks may have peaked in the short term and could start a correction period in the next week or two.”

“The VN Index may re-test a strong support level at 410 points. However, technically, stocks are still on a medium upward trend.”

Quach Manh Hao, deputy director, Thang Long Securities:

“Stocks lost steam after having failed to test strong resistance levels at 460-470 points on the main bourse and 77-78 points in the Hanoi exchange.”

“I expect stocks to correct in the next two weeks.”

Doan Tran Phuong Phi, head of brokerage team, Ho Chi Minh City Securities:

“Stocks fell considerably in part due to broad-based profit taking and also because of concerns over a possible hike in fuel costs.”

“Selling pressure may continue weighing on the market in the new few sessions.”

Nguyen Hoai Nam, analyst, Kim Eng Securities:

“Corrections could be short-lived as demand seems strong and can absorb. Technically, stocks are still on an upward trend.”