Vietnam stocks fall 2%, led by Vingroup and affiliates

HANOI: Vietnam’s stocks fell 2% to 1,707 during morning trade on Friday, led by the decline of Vietnam’s largest conglomerate Vingroup and its units.

Shares of Vingroup fell by their daily limit of 7% to 147,000 dong, following a 7% decline on Thursday when the company said it would withdraw its investment proposal for the nation’s $67-billion North–South high-speed railway project.

Asia stocks rise to six-week high; precious metals on a tear

Shares of Vingroup’s affiliated companies, including Vinhomes and Vincom Retail, also fell 7% on Friday.