Vietnam stock market falls from 1,000 points again

By Minh Son   June 18, 2018 | 05:48 pm PT
Vietnam stock market falls from 1,000 points again
An investor looks at a stock market screen at a securities company in Hanoi, Vietnam. Photo by Reuters
Latest drop is attributed to supply exceeding demand.

Vietnam’s stock market dropped 2.87 percent to more than 987 points on Monday, the second time this year that it has dropped below the 1,000-point level.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE) fell from 1,000 points for the first time this year on May 23 and did not bounce back to that level until June 4.

As supply surpassed demand, sellers were pushed to sell their stocks at all costs, leading to falling prices.

The VN-Index hit 984.24 on the last trading day of 2017, the highest ever since 2007, before reaching 1,000 points early in January.

Since then, it has stayed at more than 1,000 points until the drop on May 23.

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