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Forced Selling Makes Vietnam Stocks World’s Worst Performer

  • Traders were rattled after dong slid to a record low this week
  • Foreign investors have pulled $95 million from shares in 2022

Vietnam’s stocks tumbled to the lowest in almost two years as a wave of forced selling hit the market amid concerns about rising interest rates.

The VN Index slid as much as 4.9% to the lowest since January 2021, with the Bank for Foreign Trade of Vietnam and PetroVietnam Gas JSC among the biggest drags. The benchmark has declined 18% over the last one month to rank as the world’s worst-performing major gauge.