VN-Index slashes more than 60 points

Vietnam’s stock market saw the highest drop in history on January 19. Sometimes, the VN-Index lost nearly 75 points in the trading session.

According to experts, the reason that caused the benchmark to plummet heavily was not bad news. Instead, the market had escalated for a long time, along with the fact that continuous network congestions on the Ho Chi Minh Stock Exchange (HoSE) in the past time mostly occurred in the afternoon trading session. Therefore, investors concentrated on selling in the morning trading session.

In the afternoon session, the recovery momentum returned to the market, but it was not high because, after only 30 minutes of trading, the network congestion on the HoSE continued to happen. Closing the trading session, the VN-Index plunged 60.94 points, or 5.11 percent, to 1,131 points.

On the Hanoi Stock Exchange, the HNX-Index fell by 6.48 points, or 2.81 percent, to close at 224.02 points.