Stocks in Vietnam fell sharply on Thursday amid selloff in the country’s largest conglomerate Vingroup and its real estate unit, which plunged the Vietnam Index by 4.52% to 1,051.84 points, the lowest level since May this year.
Share price of Vingroup fell 6.82% to VND41,600 per share in the afternoon session on Thursday, while Vinhomes dropped 6.90% to VND41,800 per share.
Local brokers stated that the fall came as foreign investors offloaded shares of the big conglomerate and its unit in what appears to be a margin call.
