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VCSC Daily - Investors flee on weak economic outlook

Market Commentary

23 May 2012

Market plunge on weak economy outlook. Shares suffered a painful trading session. The World Bank’s latest report on Vietnam’s economic outlook offered a pessimistic view of the country’s recovery. In absence of supportive news, the bears were quick to pounce on any signs of weakness in confidence. The VNI was slashed by 11.19 closing at 436.75 (-2.5%) while the HNI plunged 3.72% to 73.61. We recommend staying cautious, the next support levels are at 428 and 73.

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