Heavy sales of property stocks forced the VN-Index in HCM City down a further 2.21 percent to close at 444.85 points on May 20.

There were 178 losers compared to 51 gainers, with 60 closing unchanged. Property stocks made the heaviest losses, with Tan Tao Industrial Park (ITA) down 4.3 percent to 11,100 VND, Vincom (VIC) down 4.4 percent to 108,000 VND, Hoang Anh Gia Lai (HAG) down 4.9 percent to 35,000 VND and Kinh Bac Corp (KBC) down 4.9 percent to 21,400 VND.

Other influential stocks on the VN-Index also lost ground. Masan Group (MSN) dropped to its floor price at 102,000 VND and insurer Bao Viet Holdings (BVH) also had a bad day, closing at 81,500 VND.

After three days of gains, Vietcombank (VCB) fell 1.9 percent to 31,300 VND following rumours of a 1.6 billion-share-listing plan.

Trading was slow with just 25.5 million shares changing hands, valued at 92.3 billion VND (23.4 million USD). Eximbank (EIB) was the most active stock with nearly 1.1 million shares traded, closing unchanged at 15,000 VND.

In Hanoi, the HNX-Index fell for the ninth consecutive day to finish down 0.79 percent at 78.24 points.

Volume totalled 23.2 million shares worth 284.3 billion VND (13.5 million USD). Losers outnumbered gainers by 176:82. VNDirect Securities was the prime mover with a volume of 1.7 million shares changing hands./.