Vietnam trading drops to worst since 28 August

It followed the unexpected resignation of Sacombank Chairman Thanh.

OCBC Treasury Research noted:

The Vietnam Stock Index fell 3.27%, its worst one day drop since Aug 28 following the unexpected resignation of Sacombank Chairman Thanh, with the bank’s new chairman Pham later revealing that Thanh has been placed under investigation.

Friday’s turn of event was a reminisce of the plunge in Vietnam’s stocks in late Aug following the arrest of then Asia Commercial Bank’s co-founder Nguyen and CEO Ly for allegedly conducting illegal business.

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