The trading volume surged in HCM City following heavy sell-offs, causing the VN-Index to close 1.13 percent off on Dec. 13 at 367.55 points, with losers outnumbering gainers by 174-57.

The market value of sales on the HCM Stock Exchange reached 850.4 billion VND (40.5 million USD), jumping 59 percent over on Dec. 13’s level, on a volume of 58.15 million shares.

Local investors were frustrated with the prolonged downward spiral, many taking on
Dec. 14’s improving purchasing power to exit the market, a stock analyst with FTS Securities Co wrote in a report.

Investors became cautious near the year-end when companies and funds close books, said SHB Securities Co analysts.

“Furthermore, banking system liquidity will remain under stress until the end of the year while investors await improved economic signals,” they added.

Blue chips were mixed. Of the 10 leading shares by capitalisation, Phu My Fertiliser (DPM) and food processor Masan Group (MSN) hit the floor prices while property developer Vincom (VIC) increased by the daily limit of 5 percent to 94,500 VND (4.50 USD) per share.

Hotel and entertainment service provider Vinpearl (VPL) added 3.5 percent and steelmaker Hoa Phat (HPG) edged up 0.5 percent. Most of the other large-cap shares retreated or closed unchanged.

Sacombank (STB) was still the most active stock with more than 2.2 million shares changing hands, closing unchanged at 14,800 VND (0.70 USD).

On the Hanoi Stock Exchange, the benchmark HNX-Index on Dec. 14 recorded a new history-low at 59.64 points, down 1.6 percent over the previous session.

The value of trades climbed 38 percent, however, totalling 282.3 billion VND (13.4 million USD) as trading volume hit 33.9 million shares.

Losers overwhelmed gainers by 189-57, with Kim Long Securities Co (KLS), the most heavily-traded code nationwide with 5.2 million shares exchanged, falling 3 percent to 9,600 VND per share.

Foreign investors remained net sellers in HCM City , unloading 3.81 billion VND (181,400 USD) worth of shares, while they were net buyers in Hanoi , responsible for 6.3 billion VND (300,000 USD) worth of shares./.