VN-Index slashes nearly 23 points

Vietnam’s stock market dropped steeply on June 29, extending its losing streak to a fifth trading session as selling pressure increased due to information that the gross domestic product in the second quarter of this year merely grew 0.36 percent, the lowest level in the past ten years, affecting investors’ sentiment.
Several stocks that posted sharp increases recently, namely DRH, KSB, HUT, LDG, SCR, and DLG, simultaneously hit the bottom without buyers.

Just a few stocks, including EIB, HAG, HNG, CTD, and VGC, managed to keep green. Foreign investors continued to net sell with a total value of VND150 billion.

The VN-Index plunged 22.62 points, or 2.65 percent, to close at 829.36 points with 358 stocks decreasing, 53 increasing, and 51 remaining unchanged.

The HNX-Index of the Northern bourse plummeted 2.76 percent to close at 110.32 points with 124 losers, 45 winners, and 188 unmoved stocks.

The price of gold in Vietnam strengthened by VND50,000-VND100,000 per tael compared to last week although the global gold price slightly dropped.

By Nhung Nguyen – Translated by Thanh Nha

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