VCSC Daily - Market tanks – CNG AGM – Market closed for Hung Kings Anniversary
Market tanks as sentiment turns bearish on possibly weak 1Q results. The VNI closed down 2.2% as sentiment turned increasingly bearish. Foreign net inflows was negative VND90bn on the HOSE, the second largest single day outflow since the beginning of the year. Profit-taking ahead of two long holiday weekends could be a possible factor at play. Another factor could be that investors are expecting weaker-than-expected 1Q earnings based weakness in the global markets in recent days.