Vietnam's stock market fell 5.68% as a string of new listings boosted share supply while investors were eager to cash out ahead of the year-end holidays.
"The influx of new shares together with investors' increased appetite for cash ahead of the Lunar New Year to clear debt put a lot of pressures on prices and demand is weakening very fast as potential buyers expect prices to fall further," said a dealer in Hanoi.
Traders said cash demand generally rises towards the end of the year as businesses and investors try to clear debt and pay bonuses.
Source: Reuters
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