HANOI (Reuters) – Shares of Vietnam’s largest conglomerate Vingroup and its real estate unit Vinhomes fell sharply on Thursday.
Vingroup shares fell 6.94% to 41,600 dong while Vinhome shares fell 6.9% to 41,800 apiece.
“Foreign investors are offloading shares of Vingroup and its unit in what appears to be a margin call,” a Hanoi-base stock broker said, adding that woes in China’s properties market might have hurt sentiment.
Vietnam’s benchmark stock index fell 3.8% to 1,059, the lowest since May.
(Reporting by Khanh Vu)