HCM City market stays instable

Hanoi (VNA) - The VN-Index fell back by 2.1 percent on April 23 to close at
315.2, dashing any hopes encouraged by the previous day's gains.

Volume also fell from April 22's highs, with 29 million shares changing hands, for a
total value of about 700 billion VND (38.9 million USD).

Decliners on the HCM Stock Exchange once again out-numbered gainers by 110 to 46,
with nine of the top 10 highest-volume shares on the day all dropping in value.

Analysts again attributed the market's instability to investor psychology.

Nguyen Huy Duong, an analyst with Hoa Binh Securities Co, said investors had been
influenced by news from the US stock market, including new worries bout the
banking sector after Morgan Stanley reported losses.

Many major investors, meanwhile, were maintaining a wait-and-see attitude, allowing
the market to establish a trend over time before buying in. Sacombank (STB)
continued to hold down the spot as most-active share on April 23, with nearly 4.8
million traded.

Foreign investors were net buyers on the day of over 1.2 million shares and
accounted for 4.41 percent of the entire trading volume. Hoa Phat Group (HPG) was
the share most purchased by foreign investors, with 220,330 shares bought up.

In Hanoi , the HASTC-Index also fell 1.47 percent to end the day at 113.61.
Trading volume reached 12.6 million shares, worth 219.3 billion VND (16.1 million
USD). Kim Long Securites (KLS) led the northern market with 3 million shares
traded.-Enditem