Hanoi - The Vietnamese stock market fell slightly Monday as local traders worried that new companies listing next month will dilute share prices and that new foreign investment will not be forthcoming. 

Despite news that the US government and congress had agreed on a bail-out plan for holders of mortgage-backed securities, the VN-Index ended Friday down 0.9 per cent, closing at 479. 

Market volume totaled 18.9 million shares, valued at 742 billion dong (46 million dollars). 

"Traders fear that more companies will list next month, so share value will be diluted," said Dao Viet Anh of FPT Securities in Hanoi. 

Most foreign funds have lost between 30 and 50 per cent of their stake in the Vietnamese market this year, and will find it difficult to raise capital for investments in Vietnam due to global financial turmoil. (dpa)