The market plunged Friday as investors offloaded shares ahead of the Lunar New Year holiday.
The VN-Index lost 21.96 points to close at 1,030.90.
Analysts explained that some investors bailed out to move cash into real estate which has signaled a recovery while a bubble seems to be building in the stock market since December.
Many blue chips lost. IT giant FPT fell by VND30,000 to VND574,000, confectioner Kinh Do Corp lost VND10,000 to close at VND204,000, and dairy biggie Vinamilk lost VND9,000 to close at VND181,000.
In contrast to the HCMC market, Hanoi gained 0.27 points Friday to close at 340.53.
Source: Thanh Nien
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