Vietnam's stock market experienced a significant decline, with the VN-Index dropping nearly 6 points, marking its lowest level in two months. This downturn coincided with the US Federal Reserve's recent interest rate cut, which contributed to a trading volume that fell below 28 billion VND.
Notably, large-cap stocks like VCB and FPT faced strong sell-offs, while Vingroup's stock managed to rise, making it the largest company by market capitalization in Vietnam. Meanwhile, the US dollar weakened against the Vietnamese dong, hitting a five-week low.
This decline occurred despite stability against other major currencies and reflects ongoing uncertainty regarding inflation and future rate adjustments. In Hong Kong, stocks showed little movement as investors reacted cautiously to the Fed's rate decisions, highlighting a broader sense of market apprehension.
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