With many listed companies reporting poor results or lying about them, stock investors, who switched to long-term investment after the market collapsed in the hope of receiving dividends, have seen their hopes dashed.
|With many listed companies reporting poor results, stock investors have seen their hopes dashed|
The VN-Index has dropped to 263 points from 400 two weeks ago.
Retail investors sunk a lot of money in stocks last year when the market was hot.
Many held on to plunging stocks, hoping to get dividends. But there have been a rash of poor and false results from companies recently that they cannot realistically hope to get dividends any time soon.
Beverage maker Tribeco, for instance, actually incurred a loss of VND145 billion last year but falsely claimed in its results that it made a profit.
The securities regulator has placed 11 companies on a watch list for incurring losses last year -- BBT, BHS, VTA, REE, VHG, TRI, SAM, HAP, TPC, PPC, and TYA.