VietNamNet Bridge - Trinh Van Quyet, a US dollar billionaire, lost VND1.4 trillion worth of his stock assets after Donald Trump won the US presidential election.

Mr Trinh Van Quyet

Vietnam, like many other countries, witnessed a sharp fall in the stock index fall after Trump unexpectedly won the election. 

The VN Index lost 20 points on November 9. However, the closing index decreased by 6.2 points only, or 0.92 percent, to 670.26 points. The VN30 Index decreased by 6.59 points, or 1.03 percent, to 635.42 points.

This shows that blue-chips saw sharper price decreases than other shares, which means that the richest stock millionaires suffered the most.

Trinh Van Quyet, president of FLC, a big real estate developer, who has been recognized as the second dollar billionaire, suffered heavily as both shares he is holding, FLC and ROS, have decreased sharply in value.

ROS of Faros Construction Company saw a price decrease of VND5,100 per share to VND95,000, which means that Quyet’s ROS value decreased by VND1.426 trillion to VND26.558 trillion.

Vietnam, like many other countries, witnessed a sharp fall in the stock index fall after Trump unexpectedly won the election. 

Meanwhile, FLC of FLC Group saw the price decrease by VND320 per share to VND6,300, and Quyet’s FLC value decreased by VND35 billion to VND686 billion.

The stock assets of Le Thi Ngoc Diep, a big shareholder of Faros, also decreased sharply.

ROS price decrease caused Quyet’s wife to lose VND103 billion. With stock assets valued at over VND2 trillion, Diep has outstripped a series of other businessmen to become the fourth richest millionaire in the Vietnamese stock market.

Tran Dinh Long, president of Hoa Phat Group, has also been named on the list of millionaires who lost big money on November 9 after HPG share prices dropped by VND550 per share to VND40,950.

The price decrease has led to the ‘evaporation’ of VND101 billion from Long’s stock assets. Long proves to suffer heavily if noting that his wife, Vu Thi Hien, also lost VND29 billion because of the share price decrease.

Like Quyet and Long, Truong Thi Le Khanh, chair of Vinh Hoan Seafood, who is also among the top 10 stock millionaires, has also lost big money as VHC share prices dropped by VND900 per share to VND52,300. Khanh has lost VND41 billion.

While the majority of business people suffered from share price decreases, some others earned more money as their shares increased in prices. 

They are Nguyen Duc Tai and Tran Le Quan from The Gioi Di Dong (MWG), the largest mobile phone distribution chains, and Do Huu Ha, president of Hoang Huy Investment & Finance Service. MWG share price increased by VND800 per share.

VND22,000 = US$1

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