Vietnam's stocks saw the largest decline measured over the course of a single day since 2002 as investors grow fearful of the economic fallout from the COVID-19 outbreak, coupled with the global oil price war.
Viet Nam’s benchmark VN-Index plummeted 6.28 per cent on Monday, its worst daily loss in the last 19 years, to 835.49 points as investors were alarmed with widespread slumps on the global markets.
Vietnamese shares plunged on Monday morning, in line with the global downturn, as the spread of the novel coronavirus (COVID-19) worsened around the world outside China, sending investors to safe-haven assets like gold.
The Vietnamese stock market would struggle to hold on to its threshold as analysts are afraid the market sentiment could worsen after new coronavirus-infected cases were reported over the weekend.
Margin lending may be allowed on the Unlisted Pubic Company Market (UPCoM), the State Securities Commission (SSC) vice chairman Pham Hong Son said on Wednesday.
Plummeting global oil prices over the past month are hurting the stock prices of Vietnamese oil and gas companies, tinnhanhchungkhoan.vn reported on Wednesday.
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