Influence of Profit Taking, Vietnam Stock Market Plunges 2.6% to Create Three-Week High!

　Gloomy August 22nd | The Vietnamese benchmark index plummeted by 2.6%, the largest decline since July 29th, analysts point out that after a recent strong rally, profit taking may occur. Vietnam Prosperity JSC Bank, Techcombank, and Vinhomes are the main contributors to this decline. According to SBB Securities Company's institutional brokerage business head Nguyen Anh Duc, some individual investors are closing their positions, especially those who have borrowed funds with guarantees such as margin. "Investors expect this round of gains to be over, and the index may enter a consolidation phase in the next few weeks before forming a new round of gains." This is a normal pullback after a significant rally. So far this year, the VN Index has soared by more than 30%, benefiting from the optimistic sentiment supported by the US trade agreement and potential market upgrade later in the year.