Vietnam Stocks Tumble by Most Since April, Extending Rout
- VN Index has become world’s worst-performing major benchmark
- Bond issuance probe, higher lending rates hurting sentiment
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Vietnam stocks tumbled by the most since April as leveraged traders exited positions on concerns about liquidity shortages spreading in the property sector.
The benchmark VN Index -- which has become the world’s worst-performing major gauge -- dropped as much as 5.1% on Thursday, driven lower by property and banking shares. Real estate firm No Va Land Investment Group slumped 6.9% in its seventh consecutive day of declines. Vietnam Joint Stock Commercial Bank for Industry and Trade lost nearly 7%.