Vietnamese stocks lose 4.25 pct, hit 32-month low
HANOI, Oct 24 (Reuters) - Vietnam's key stock index fell more than 4 percent on Friday, hitting its lowest in 32 months, as domestic investors unloaded shares following foreign investors' sales in recent weeks.
The main Ho Chi Minh Stock Exchange .VNI, the world's worst performer this year, dropped 4.25 percent to close at 345.11 and has now lost 62.8 percent this year after a gain of 23 percent in 2007.
"Domestic investors have been selling shares due to pessimism about strong foreign sales recently," Vu Duy, a trader with Hanoi-based Kim Long Securities Company KLS.HN, said.
Friday's volume jumped nearly 13 percent from a week ago to 13.2 million shares. The market has seen daily trading volume of around 13 million shares since the start of this week.
Brokers said foreign investors had been net sellers in the past 13 sessions and falls in world stock markets had also hurt investor confidence.
"Bad news around the world markets made local retail investors reluctant to buy," said Tran Thi Ngoc, an analyst at Hanoi-based Wall Street Securities Co. ($1=16,518 dong) (Reporting by Dang Trung Nghia; Editing by Alan Raybould)
