Vietnam index closes down 2.5 pct at 2-month low
HANOI, Aug 28 (Reuters) - Vietnam's benchmark VN Index fell 2.5 percent on Wednesday to post its biggest loss in two months as traders sold off shares and sought other investment options on concerns about gloomy global markets. The index closed at 473.30 points, the biggest fall since June 25. All but one of the top 30 big-cap stocks ended down, with dairy maker Vinamilk sliding 4.3 percent to 133,000 dong ($6.3) a share, a low of almost two months. Top insurer BaoViet Holdings sank 6.3 percent to 35,600 dong each, its lowest value this year, while state energy firm PetroVietnam Gas dropped 3 percent and VietcomBank lost 2 percent. "Investors sold equity and started to buy gold as they're concerned over possible U.S.-led military action in Syria, especially foreign investors," said Nguyen Anh Tuan of FLC Securities. Vietnamese investors often turn to the popular safe haven of gold when stocks and bonds are unfavourable. The selling price of country's benchmark SJC branded gold was 38.8 million dong per tael on Wednesday, a high of more than one month.
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