The Vietnamese stock market continued to undergo a bearish week as many realty stocks faced selling force with large volumes. The only positive point was the strong return of foreign investors with five consecutive sessions of net buying.

The Viet Nam Stock Exchange (VNX) has applied for membership in the World Federation of Exchanges (WFE) in replacement of the HCM Stock Exchange (HOSE).

Vietnamese shares increased yesterday as investors sought stocks that had been hit hard in the previous session.

Enterprises in the VN30 group, which includes the 30 largest companies in market capitalisation on the Ho Chi Minh Stock Exchange (HoSE), have accumulated an additional VND173.3 trillion (US$7 billion) in cash to bring the total amount to nearly VND1.83 quadrillion in the first nine months, according to statistics.

Vietnamese shares declined on Thursday after rising for four consecutive sessions, due to large-cap stocks underperforming as investors sold in pursuit of cutting losses amid the market’s recent volatility.

On the stock market, domestic investors opened 96,427 new accounts in October, a slight decrease month-on-month, data from the Vietnam Securities Depository (VSD) showed.

Vietnamese shares rose on Wednesday, propped up by a slew of banking stocks.

Correction of stock market in recent months has caused speculative stocks to plummet. Many investors have moved out of the stock market due to poor speculation and hot stocks introduced by securities with the nickname A7.

The stock market finished higher on Tuesday, paring losses set in the recent sessions, as investors seized opportunities for bargain-purchasing.

Many stocks unexpectedly received a large amount of capital inflows from foreign investors, especially some banking stocks, even though the market went down in October.