The VN-Index dropped back below the psychologically significant 500-mark on Wednesday, losing 0.3 per cent to end the final trading session of March at 499.24 points, as the HCM City Stock Exchange saw its second straight day of declines.
The value of the day's trades reached VND2 trillion (US$105.3 million) on a fairly brisk volume of 52.2 million shares, as decliners outnumbered advancers by 108-68. Eximbank (EIB) was the most-active share with a volume of 3.87 million traded, accounting for 8.55 per cent of the market volume.
"The market hovered at around the psychological barrier of 500 all day, and investors finally grew bored with it, breaking off activity toward the end of the session," said Nguyen Duy Tan, a broker with a Ha Noi-based securities firm.
The break-off ended a pattern of investor hesitation seen since the beginning of the week, Tan added.
On the Ha Noi Stock Exchange, the HNX-Index also slid by 1.12 per cent, ending the day at 160.55. Volume on the northern market reached 22.5 million shares, worth a combined VND750.4 billion ($39.5 million). Kim Long Securities Company (KLS) was again the most-active shares, with 2.39 million traded.
Foreign investors were net buyers on the HCM City market yesterday, picking up about 2 million shares, but were net sellers on the northern market by a net of 321,200 shares.
Truong Minh Huy of Thanh Cong Securities Company said that stock market had strong prospects for an advance based on positive first-quarter business results. Nevertheless, Huy hoped for looser monetary policies in April as a spur to market development