The VN-Index ended last week 47.41 points down on its close Friday of the week before, and this was partly a result of ‘rumours and tricks’, Tuoi Tre is reporting. This, however, is not exactly true. The drop of 40 points last Thursday appears to have been driven by a bond issuance of US$250 million by Vingroup which was essentially using the funds to refinance existing bonds. This appears to have spooked the market raising questions about the company’s financials in particular those of poorly performing subsidiary Vinfast, which has been loosing around US$500 million per quarter.
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Was HOSE 40-point drop Thursday really a result of ‘rumours and tricks’?
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