The new week on the stock market began with strong profit-taking pressure, especially on the stocks of Vingroup owned by billionaire Pham Nhat Vuong. Stocks VIC and VHM hit the floor price, while VRE fell 3.6%. After a period of rapid increase, profit-taking became necessary for VIC, VHM, and VRE, which had surged 120%, 80%, and 50% respectively this year. In the session on June 9, Vuong’s assets dropped by about 15 trillion VND, but he still holds the title of the richest person in Vietnam with nearly 200 trillion VND and 10.1 billion USD according to Forbes. In addition to stocks, a significant part of his wealth is tied to VinFast, a prominent electric vehicle company ranked among the top 10 globally. Vuong is also raising funds for Vingroup through bond issuances, totaling 15 trillion VND.
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