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VCSC Daily - Selling pressures continue

Our view: We thought the markets had calmed but we were wrong. There were fresh rumours, spurred this morning by online media reports (which were promptly taken down) that the CEO of ACB was also arrested. Spokespeople for the bank continue to firmly deny this. However, the damage may have already been done as reports came in of depositors lining up at ACB branches to withdraw money. To what extent we do not know.