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VCSC Daily - NA approve tax resolution, stocks still down

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.