The fuel price cut announced late on on May 10 failed to rescue stocks from further declines on the HCM Stock Exchangeon May 10 , with the benchmark VN-Index closing the afternoon session down 0.32 percent from the previous day to 486.07 points.

Sell pressures continued to build, driving the value of trades up 28.3 percent to 2.3 trillion VND (110 million USD) on a total volume of nearly 134.7 million shares. Trades were mixed, with 137 codes advancing and 128 declining. The VN30-Index, tracking top shares by market capitalisation and liquidity, closed off by 0.47 percent to 554.74 points.

Real estate companies were the day's biggest gainers, and Investment and Trading Co (ITC), Hoang Quan Consulting-Trading-Service Real Estate (HQC), Tu Liem Urban Development (NTL), Khang Dien House Trading and Investment (KDH), and Thu Duc Housing Development (TDH) all soared to their ceiling prices.

Construction firm Licogi 16 (LCG) was the most-active share, with 4.3 million traded, closing up by nearly 3 percent to 13,900 VND per share, after the company announced it would pay a 5-per-cent cash dividend. The deadline to register for participation in the payout was set at May 24.

On the Ha Noi Stock Exchange, the HNX-Index also lost 0.63 percent on May 10 to conclude the session at 83.23 points. Advancers outnumbered decliners by 177-136, while volume increased by 18 percent to over 101 million shares, worth a total of 1.1 trillion VND (52.6 million USD).

Takeover target Habubank (HBB) continued to be the most-active share nationwide, with 12 million shares changing hands, but HBB shares sank by another 3.1 percent to 6,100 VND.

Foreigners returned to being net sellers on both exchanges on the previous day after a long run of net buys, unloading shares worth a combined net of 11.3 billion VND (540,000 USD) on both bourses./.