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VCSC Daily - VN-Index retreats 2.7% on profit taking and reaction to SSC's proposed margin tightening

The VN-Index fell sharply by 2.7% today, its largest daily loss this year. Liquidity remained very high with VND8,668 billion (USD382 million) traded. The current high market valuation combine with strong technical resistance as the index moves towards 1,100 made the market more sensitive and boosted selling pressure created by the State Securities Commission's proposed change in margin policy, which we discussed yesterday, to increase the equity requirement for each margin lending position