Vietnam Index loses 2.67 pct, to fall more

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The Ho Chi Minh Stock Exchange's VN Index closed down 2.67 percent at 445.00 points on Tuesday.

Foreigners bought VND268.04 billion ($12.87 million) worth of shares and sold stocks valued at VND138 billion, the exchange said.

Volume of shares traded: 154.49 million shares.

Value: VND2.16 trillion.

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 VND1.65 trillion.

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."

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