Shares continued to decline on both stock exchanges this morning, but at a slower pace.

On the HCM City Stock Exchange, the VN-Index lost another 0.31 per cent to end this morning at 387.68 points.

Trading was sluggish with just 25 million shares, worth VND313 billion (US$14.9 million) exchanged, down 40 per cent in value compared to yesterday morning's level.

Losers outnumbered gainers by 132-67 overall, but recovery of several blue chip stocks helped cushion the index fall.

Vietinbank (CTG), Phu My Fertiliser (DPM), property developer VinGroup (VIC), dairy giant Vinamilk (VNM) and Military Bank (MBB) regained 0.7-1.6 per cent.

However, PetroVietnam Finance (PVF) plunged to floor price while insurer Bao Viet Holdings (BVH), property developer Hoang Anh Gia Lai Co (HAG) and steelmaker Hoa Phat Group (HPG) fell 1.2-4 per cent.

The VN30 tracking the top 30 shares on the southern bourse was also down 0.35 per cent to almost 454 points

Without supporting news, construction company Licogi 16 (LCG) surprised the market by becoming the most active share this morning. More than 1.7 million shares were traded. However, they slid 1.4 per cent to VND7,100 a share.

On the Ha Noi Stock Exchange, the HNX-Index closed at 57.69 points, off 0.65 per cent, on a total turnover of more than VND102.6 billion ($4.9 million).

Decliners also overwhelmed advancers by 117-47.

VNDirect Securities Co (VND) was still the most active code with almost 2.8 million shares changing hands, closing flat at VND9,200 a share.

Trading will resume at 1pm.