Vietnam's latest market woes
The stockmarket is down and ratings agency Fitch has cut the country's sovereign rating from stable to negative û are we through with the bad news yet?
Vietnam has been ducking punches of bad news lately. So it's no surprise that ratings agency Fitch cut the country's BB-minus sovereign rating from stable to negative, yesterday. The cut in the rating û which is three levels below investment grade û followed one by Standard Poor's earlier this month.
The reason for the poor scorecard skyrocketing inflation, an increasing trade deficit, and a nose-diving stockmarket û the Ho Chi Minh City Stock Exchange's HOSE index has fallen 55%...
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