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VCSC Daily - NA approve tax resolution, stocks still down

Market Commentary

22 Jun 2012

Vietnam stocks magnified losses despite NA approval of tax resolution. The stock market continued to tumble despite government action. At the close, the VN-Index lost 3.97 point to close at 427.17 down 0.92% while the northern bourse fell by 1% to 73.31. Investors were still pessimistic with the market’s ability to move upwards as the banking system continues to struggle to resolve bad debts and credit growth.

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