VietNamNet Bridge - The VN-Index continued its decline as it closed at 931.18 points on April 23, down 37.7 points against the previous session at the Ho Chi Minh City Securities Trading Centre (HoSTC).

Only six shares listed at the HoSTC rallied for gains, 12 shares showed no change, and 91 shares endured declining prices from the previous trading session.

Blue-chip shares decreased sharply with BMC down 25,000 VND each share; FPT, 24,000 VND; SJS, 15,000VND; and REE and PVD, 11,000 VND each.

The six shares worth less than 100,000 VND each saw a reduction of between 2,000 VND and 4,500 VND in prices.

On the day over 4 million stocks worth almost 425 billion VND (26.5 million USD) were traded at the HoSTC.

Meanwhile, the HaSTC-Index of the Ha Noi Securities Trading Centre also saw a 44.12 point decrease to 321.44 points with over 1.2 million shares worth almost 153 billion VND (9.5 million USD) were traded.

Blue-chip shares suffering the sharp decrease included ACB, down 17,100 VND each; BVS, 8,700 VND; and SSI, 5,100 VND.

The Vietnam stock market has an additional 60,000 new accounts, many of which are suffering from declining share prices, especially in recent trading sessions, said stock companies.

Senior advisor to VinaCapital Pham Uyen Nguyen said that VN-Index will fall to 800 points but will rise to 1,300 points due to the impact of domestic and foreign investment influx in the market, the national economic growth rate and the effectiveness of businesses’ operation. Around 3-5 billion USD of foreign investment capital is expected to pour into the securities market this year.

am Minh Chanh of the Asian Institute of Technology forecast four trends for VN-Index from now until June this year. There will be five percent for VN-Index to regain its points to 1,200, 25 percent for it to fluctuate around 1,000 points, 50 percent for it to reduce and reach around 900 points and the rest for it to stand at between 700-750 points.

(Source: VNA)