Shares plunged further in May 23 session as blue chips lost ground and investors became cautious after the previous day's bulltrap.

The VN-Index gave up another 2.5 percent to close at 436.75 points, with trading value decreasing by 25.5 percent over the previous session to 1.12 trillion VND (53.3 million USD) on a volume of 66 million shares.

On the VN30 Index, 25 of the top 30 shares by market capitalisation and liquidity sank, driving the Index down 1.63 percent to 508.45 points.

The two largest shares Vietcombank (VCB) and PetroVietnam Gas (GAS) bottomed out while insurer Bao Viet Holdings (BVH) lost 3.6 percent.

Steelmaker Hoa Sen Group (HSG) was the most active stock on May 23 on trading of 2 million shares, gaining 1.68 percent to settle at 18,200 VND (0.87 USD).

On the Hanoi Stock Exchange, the HNX-Index fell by a more substantial 3.73 percent to 73.61 points. Market liquidity decreased slightly to 55 million shares, worth 596.6 billion VND (28.4 million USD).

Habubank (HBB) reclaimed the position of the most active share in Hanoi on May 23 with over 5 million shares traded, but slid 5.6 percent to a close off at 5,100 VND.

Foreign investors were still net buyers on both exchanges on May 23, picking up shares worth a combined value of over 57 billion VND (2.7 million USD).-VNA