The sell-off in the Vietnamese stock markets has been consistent with what has been occurring in global markets, though selling pressure was exacerbated by many new retail investors dealing with margin calls for the first time and a crackdown on...
The market opened the week on a negative note, with both benchmark indices losing more than 1 per cent, as selling pressure weighed on investors'' sentiment from the beginning of the session.
Shares ended lower on Monday as profit-taking activities weighed on the stock market, while foreign investors net sold more than a trillion VND on two main exchanges.
Strong margin lending by securities firms is considered among key factors for the market surge in the past quarter and counter the strong foreign selling pressure.
The Vietnamese market will face unexpected movements due to the COVID-19 pandemic and the net selling pressure from foreign investors, market analysts said.
Selling pressure increased suddenly especially near the close of the trading session on Friday, hitting many large-cap stocks and putting pressure on the overall market.