1.   Foreign investors, who were responsible for an earlier rally in Venezuelan stocks, are looking at other markets and investing more carefully.

2.   Foreign investors are largely responsible for the rise in Venezuelan stocks this year, analysts said.

3.   Higher earnings expectations and undervalued prices made Venezuelan stock attractive.

4.   Higher earnings expectations and undervalued prices make Venezuelan stock attractive.

5.   In addition, volatility in U.S. stocks is discouraging investors from increasing their holdings of Venezuelan stocks.

6.   In January, public sector strikes threatened to spill over into the private sector, and investors punished Venezuelan stocks.

7.   Limited non-oil economic growth and unfunded liabilities in severance pay systems could also hurt Venezuelan stocks, the report said.

8.   Some investment banks have advised investors to cut their holdings of Venezuelan stocks because of inflation fears.

9.   Venezuelan stocks declined as foreign investors shunned the market.

10.   Venezuelan stocks fell after a sharp decline in U.S. shares, amid concern that interest rates there will rise later this year, hurting corporate earnings.