Vietnam stocks market that showed record results just a month ago is not inspiring traders anymore, Bloomberg reports.

Together with Monday loss of 2,9%, total loss of VN index from peak value in April is 22%. So, index that just a few weeks ago was the best in Asia-Pacific region now is the biggest loser in the world.

Market drop is caused by foreign investments outflow, which is a bad news for the Vietnam stocks. International investors were net sellers of country’s equities each day, except for two, this month. Index VN stocks volume declined to average 127 million shares. It is the lowest level since January 2017.

Some investors think that such drop was expected taking into account five quarters of growth.

Two thirds of Vietnam shares lost value in Monday. Among biggest losers are banks, energy and tourism companies.