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Vietnam’s benchmark VN Index closed 1.15 per cent lower at 537.44 points on Friday, a level unseen since December last year, as investors sold shares fearing political risks.
Declining shares accounted for 55 per cent of the total equities on the exchange, led by PetroVietNam Gas, Vietnam’s top listed firm by market value, with a 1.61-per cent fall, while food producer Masan Group lost 2.5 per cent.
Analysts said investors sold shares on worries that Vietnam’s dispute at sea with China may hype up again this month, a year after the northern neighbour placed a $1-billion oil rig in waters Hanoi claims as its exclusive economic zone.
Lack of supportive news also hurt sentiment, analysts and traders said, while foreign investors have been net sellers of Vietnamese shares in four straight sessions as of Friday, exchange data showed.
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