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Vietnam’s benchmark VN Index dropped 0.85 per cent to close at its lowest since January 8, led by extended selling in PetroVietNam Gas, the country’s top firm by market value.
Gas shares tripped 4.29 per cent further from its 2-1/2-month low close of the previous session, while food producer Masan Group declined 2.53 per cent to its four-year low close at 77,000 dong.
Volumes fell to near a one-week low at 83.8 million shares, while foreign investors offloaded a net 266 billion dong worth of Vietnamese shares on Thursday, their fourth straight net selling session, Reuters and exchange data showed.
“We strongly recommend investor to stay out of the market and avoid bargain hunting when the market trend is still unclear,’’ said Vietcombank Securities in a note to clients on Thursday.
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