Vietnam’s benchmark VN Index ended 0.79 per cent lower on Monday to its lowest since February 5 in a cautious sentiment, breaking a support level that analysts said left room for further losses.
Banks led the decliners that accounted for more than half of the total equities, with Hanoi-based Vietcombank, the country’s top lender by value, ending down 2.22 per cent to the lowest since February 5, while BIDV lost 3.35 per cent.
Analysts said the index broke its 575-point support level, and expected a downward trend in coming sessions to as low as 550 points as cautious investors would extend selling, while there was a lack of support from foreigners.