Despite the US stock market crash, VN-Index continues to rise

Vietnam's stock market continues to rise despite sharp declines in many places such as the US.

Despite the strong fluctuations during the session, at the close of the stock market on March 12, the VN-Index still increased by 1.87 points to 1,334.41 points and the HNX-Index increased by 1.29 points to 241.87 points. The current score of the VN-Index has returned to the level of the vibrant market period nearly 2 years ago (April 2022). However, as predicted earlier, at present, after a series of continuous increases from the beginning of March until now, stocks have started to decrease again as many investors take profits.

Vietnam's stock market continues to rise despite sharp declines in the world

PHOTO: DAO NGOC THACH

On the Ho Chi Minh City Stock Exchange, the number of stocks decreasing in price was overwhelming with 272 stocks decreasing while 189 stocks increased and 78 stocks remained unchanged. Similarly, on the Hanoi Stock Exchange, there were 84 stocks decreasing and 76 stocks increasing and 67 stocks remaining unchanged. Market liquidity continued to remain high with nearly 1 billion USD. Specifically, more than 1.04 billion stocks and fund certificates were traded with a total value of more than 24,019 billion VND. Some securities companies have advised investors to be cautious when buying because many stocks had increased in price before.

Notably, Vietnamese stocks maintained their upward momentum while many markets were on fire. In particular, the US stock market continued to decline. Wall Street indexes have been plummeting since the beginning of the week, causing the S&P 500 and Nasdaq to fall into correction territory, meaning a 10% decrease from their peak. In general, within 1 month, the S&P 500 index decreased by nearly 8%; Nasdaq decreased by 11.27% and Dow Jones fell by 6.62%. Similarly, although decreasing slightly, European stock markets also declined over the past month, such as the UK's FTSE AIM ALL SHARE decreased by 6.21%; France's CAC All-Tradable decreased by nearly 1%; Denmark's OMX Copenhagen Index lost 4.16%...

Recently, the State Securities Commission has announced specific work contents towards the goal of upgrading the Vietnamese stock market from frontier to emerging. In particular, the State Securities Commission plans to deploy the new trading system KRX in May or June after testing by members. Before putting the KRX system into operation, it is expected that in April, the stock exchanges will publicly announce all the improved, different and superior features of this new system. In addition, in March, it is expected to establish a policy dialogue group including members from the State Securities Commission and experts, investment funds, international investment organizations, a number of securities companies, and custodian banks to discuss with management agencies the difficulties and problems of foreign investors... The determination to upgrade the Vietnamese stock market is one of the pieces of information that contributes to boosting the market and attracting the attention of domestic and foreign investors.