Vietnamese stock markets ended lower on Friday as a continued rise in coronavirus cases dashed hopes of a swift recovery from the pandemic-hit economic downturn.
A rise in beaten down banking and energy stocks helped Vietnamese shares rebound on Thursday as investors pinned hopes on the Government’s drastic measures to tackle the COVID-19 outbreak.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) gained 3.59 per cent to end trading at 813.36 points.
Vietnamese shares suffered their biggest daily percentage drop in four months as new COVID-19 cases highlighted continued risks posed by the pandemic and dimmed the prospect of a swift economic recovery.
Shares flip-flopped early on Friday as investors dumped stocks in the “Vin” family, weighing down the overall stock market.