Vietnam's 'blazing furnace' crackdown burns US$40 billion off stocks


Image from Vietnam News/ANN.

HANOI, April 29 (Reuters): A series of high-profile corporate arrests has triggered a $40 billion wipeout for Vietnamese stocks and rattled investors' confidence at a delicate moment for the fast-growing economy.

Beginning with the arrest of billionaire Trinh Van Quyet a month ago, top stockbrokers, property developers and even regulators have been ensnared as a years-long anti-corruption campaign broadens from the bureaucracy to target business leaders.

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Vietnam , Major Issues , Stock Market

   

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