Local investors continued to unload shares on growing pessimism on May 13, although the low prices attracted foreign bargain-seekers.

On the Ho Chi Minh Stock Exchange, the VN-Index lost another 0.61 percent to end May 13 session at the four-month low of 513.91 points.

The market condition was negative with 187 shares tumbling, 66 rising and 61 closing flat.

Blue chips were again the main drag on the market as more than half of the top 30 shares by market value and liquidity slipped and only nine rose. The VN30 sank 0.57 percent to close at 560.11 points.

Bank shares had a good day with many posting gains, including Eximbank (EIB), Vietcombank (VCB), Military Bank (MBB) and BIDV Bank (BID). EIB gained the most with an increase of 3.2 percent to 12,900 VND a share, followed by VCB, up 2.1 percent, and MBB and BID, up 0.7 percent.

Market volume changed little from the previous session, totaling 98.6 million shares and fund certificates, while the value of trades decreased 15 percent, reaching 1.4 trillion VND (66.4 million USD).

Tan Tao Investment Industry Corp (ITA) was the most active code on the southern bourse on May 13 with 6.9 million shares traded, falling 5.6 percent to settle at 6,700 VND a share.

On the Hanoi Stock Exchange, the HNX-Index slipped by a more substantial 1.84 percent to close at 69.39 points as losers outnumbered gainers by 162-58.

The HNX30, which tracks performance of the top 30 shares by market value and liquidity on the northern bourse, was also down 1.7 percent at 132.45 points.

Trading improved slightly over May 12, with over 60 million shares worth 478 billion VND (2.9 million USD) exchanged.

Sai Gon-Ha Noi Bank (SHB) was the most heavily-traded share here, climbing 2.5 percent to end at 8,200 VND a share on trades of 6.8 million shares.

While local investors rushed to unload shares, foreigners continued to buy. They concluded on May 13 as net buyers on both exchanges, picking up shares worth a combined 259 billion VND (12.3 million USD). In the past two days, foreign investors bought shares worth a combined 500 billion VND (23.7 million USD).

VNN/VNA