Vietnam stock market in Free Fall
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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.
Questions & Answers
Q.How much did Vietnam's stock market fall on Monday?
How much did Vietnam's stock market fall on Monday?
On Monday, the VN-Index dropped by 2.87 percent, falling to more than 987 points. This is the second occasion this year that the index has gone below the 1,000-point threshold.
Q.When was the last time the VN-Index was below 1,000 points this year?
When was the last time the VN-Index was below 1,000 points this year?
The VN-Index previously fell below 1,000 points on May 23. It did not recover above that level until June 4, after a period of lower performance.
Q.What caused the stock market to fall?
What caused the stock market to fall?
The decline was a result of supply surpassing demand in the market. This situation compelled sellers to offload their stocks regardless of price, which subsequently led to a drop in overall prices.
Q.When did the VN-Index last reach its highest point?
When did the VN-Index last reach its highest point?
The VN-Index hit its highest level since 2007 on the last trading day of 2017, reaching 984.24 points. It then surpassed 1,000 points early in January.
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