Vietnamese shares fell on Thursday as strong selling pressure weighed down large-cap stocks and listed firms suffered from negative news of the macro-economy.
Việt Nam’s benchmark VN-Index was dragged down on Tuesday by large-cap stocks and net foreign selling after having rallied for three consecutive sessions.
Việt Nam’s benchmark VN Index has extended its growth for a fourth straight week, though recent market trading conditions suggest the benchmark index could struggle with rising selling pressures this week.
Shares fell on both local exchanges on Thursday, as investor confidence was weakened by negative global market trends and investors continued to seek short-term profits.
Vietnamese shares yesterday retreated from a nine-day rally, driven by profit-taking, while oil and gas firms suffered losses as crude prices pulled from a one-month high after a two-day gain.
The recently effective circular limiting sub-prime loans for securities trading would make the local market healthier, said Đỗ Bảo Ngọc, a senior stock expert from MBS securities company.