On the HCMC Stock Exchange, the VN-Index gained 2.8 percent, to close at 969.26 points. The index had risen 3.4 percent, to close Wednesday at 942.90 points.
Although the global stock market was gloomy, the cash flow actively poured into Vietnam's stock market for bottom-fishing right from the beginning of the trading session on October 12, causing the VN-Index to rebound robustly, fueled by foreign investors’ net buying of up to VND1.3 trillion in the whole market.
The VN-Index officially lost the 1,110-point mark, retreating to the bottom made in February 2021 in the first trading session of October on October 3.
Stockholders dumped shares heavily, whereas investors holding money did not participate in the market, causing the VN-Index to retreat to near 1,200 points. With a drop of roughly 29 points in the trading session on September 19, all previous gains of the VN-Index in August were erased.
The Ministry of Planning and Investment yesterday announced that FDI enterprises have invested in 53 provinces and cities across the country in the first eight months of 2022 and Ho Chi Minh City leads with a total registered investment capital of over US$2.7 billion, accounting for 16.1 percent of total capital registered investment. The city has seen an increase of 24.4 percent over the same period in 2021.
Tuning in with the upbeat sentiment of the US stock market, the VN-Index also climbed robustly in the trading session on July 28 after the US Federal Reserve decided to raise interest rates for the third consecutive time.
Over the past week, many international delegations have visited Ho Chi Minh City for entertainment and seminars, helping the tourism market become more vibrant. The Department of Tourism of HCMC estimates that the tourism industry will possibly complete its goal of welcoming 3.5 million international visitors this year soon.
Foreign direct investment (FDI) in Vietnam continuously increased in the first half of this year, especially in the real estate sector that attracted US$3.15 billion, making up 22.5 percent of the total registered capital.
Under a strong downward trend from banking and securities stocks, the VN-Index dropped more than 16 points in the first trading session of the week on July 11.
Vietnam's stock market was quite gloomy in the trading session on July 5, with liquidity remaining weak, making the market unable to spread positivity even though banking stocks - dubbed king stock - increased fairly well.
Instead of only receiving support from pillar stocks, the VN-Index suddenly rebounded robustly on June 8, thanks to the solidarity from the remaining small and medium-sized stocks.
Keeping the rising momentum in the previous session, the Vietnam stock market in the trading session on May 25 actually thrived when the cash flow boldly poured into the market after a long time of poor market liquidity due to investors' cautiousness. Foreign investors also net bought about VND3 billion on the HoSE.
Deputy Nguyen Thien Nhan, former Secretary of the Ho Chi Minh City Party Committee, said at the National Assembly session that the draft resolution must affirm that foreign investors can't co-own ports and airports.
After the longest losing streak in the past ten years, the VN-Index fell off the 1,200-point mark - an important support level established in 2018. Although there were several recovery sessions, with such a decrease in only six weeks, Vietnam’s stock market entered the top three markets with the sharpest decline in the world since the beginning of the year.
The Vietnam Association of Foreign-Invested Enterprises (VAFIE) officially announced the first annual report on FDI in 2021 on May 10. Vietnam is the third-largest FDI recipient in the region.