After hitting a record low in 2022, Vietnam’s money supply (M2) will rebound in 2023 and become an important driver for the recovery of the stock market, KB Securities Vietnam (KBSV) forecast.
Vietnam's stock market faced strong profit-taking pressure at the end of the trading session, causing the market to go down, closing at the lowest point on December 12. The VN-Index, from gaining about 10 points in the morning, turned to decrease by nearly 20 points at the end of the session. The losing range in the session was up to 30 points.
After the sharp decline the previous day, Vietnam’s stock market continued to retreat in the trading session on December 7. Although the VN-Index only lost by nearly 8 points, many stocks fell to the floor, especially real estate stocks. VIC shares alone hit the ceiling price of VND71,200 per share, contributing to curtailing the losing momentum by nearly 5 points.
Several banking, real estate, securities, and steel stocks fell to the floor despite the positive news that the State Bank of Vietnam has officially expanded the credit room by 1.5-5 percent, increasing credit growth in the year to 15.5-16 percent compared to the target of 14 percent at the beginning of the year.
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.
Financial stocks were the focus to help the market recover, although many real estate stocks were still on the floor, and a large volume of NVL, DXG, DIG, and PDR shares was unsalable.
Vietnam's stock market saw a large-scale sell-off in the last trading session of the week on November 4. The VN-Index dropped below the 1,000-point mark again due to panic among investors.
After the US Federal Reserve (FED) announced to raise the benchmark interest rate by 75 basis points, or 0.75 percentage points, to 3.75-4 percent per annum as expected, gold, stocks, and US dollars at banks fell on November 3. Only the US dollar price on the free market jumped sharply.
Despite the selling pressure in many sectors, the VN-Index still gained slightly in the trading session on the last day of October, thanks to the effort of the pillar stocks. In contrast, steel stocks continued to be engulfed in the red color due to heavy losses in the third quarter.
The VN-Index continued to free fall in the trading session on October 25, losing 24 more points to near 960 points, then rebounded by nearly 12 points at the end of the trading session after the “Black Monday" when the VN-Index lost the 1,000-point mark and the market capitalization evaporated more than VND134.2 trillion.
Vietnam’s stock market took place negatively in the morning trading session on October 24 due to strong selling pressure across the market. The VN-Index closed the morning trading session at only 996.45 points after dropping by nearly 24 points, with several real estate and securities stocks hitting the floor.
After the market recovered for three consecutive trading sessions at the end of last week and stopped falling free during the week, many investors have felt less worried. Current market movements have partly brought hope to investors.
The VN-Index suddenly rebounded in the afternoon trading session on October 20, but investors' caution made the index's attempt to change color unsuccessful in the ATC matching session.