The run on Vietcombank shares failed to brighten overall trading on the HCM Stock Exchange on May 16 in the first session of the new week, with the VN-Index closing at 471.49, a decline of over 1.7 percent.

The volume of trades rose 40 percent over May 13's total to 25.4 million shares, worth just 490.3 billion VND (23.3 million USD).

Vietcombank (VCB) became a phenomenon on May 16, with 246,090 buy orders at the opening. The rush to purchase was attributed to the bank's news that it would add 1.6 billion shares to its current listing.

At the close, VCB was up 5 percent, VietinBank (CTG) 2.4 percent and Eximbank (EIB) 0.7 percent, while Sacombank (STB) closed down 0.8 percent.

Losers outnumbered gainers overall by 4-1. Four listed companies which saw the heaviest losses of the day, including Da Nang Rubber Co (DRC), Vietnam Ocean Shipping Co (VOS), Petro Capital and Infrastructure Investment Co (PTL) and Ba Ria-Vung Tau House Development Co (HDC), saw their ex-dates pass for dividend payment.

The rest of the 10 leading shares by capitalisation fell, including shares of property developer Vincom (VIC) which plunged to their floor price of 124,000 VND per share.

Saigon Securities Inc (SSI) was the most-active share in HCM City , with nearly 1.1 million traded. SSI closed up 2 percent to 19,800 VND.

On the Hanoi Stock Exchange, the HNX-Index finished on May 16's session down 1.24 percent to 80.98 points. The value of trades reached only a meagre 283.5 billion VND (13.5 million USD) on a volume of 22.4 million shares. PetroVietnam Gas North Co (PVG) topped the market with 2.4 million shares traded. /.