The stock market concluded the last session of May with small and mid-cap stocks continuing to rise, while large-cap stocks experienced a significant decline.
The sudden reduction in operating interest rates by the State Bank of Vietnam caused a sharp drop of 9.83 points in the VN index between 3 April and 12 April.
Foreign investors continued their net buying streak for the fifth consecutive session on the HoSE with a total net purchase value of over VND841 billion. Market liquidity also significantly improved.
The cash flow poured into the market heavily, so many stocks rebounded robustly, helping the VN-Index surpass 1,040 points at the close. Foreign investors also net bought for a second consecutive session with more than VND243 billion on the HoSE.
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.
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.
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.
Although the market liquidity remained low, the cash flow returned to blue-chip stocks, causing the market to gain positively right from the beginning of the session on June 27.
After the recovery session on the previous day, Vietnam’s stock market was bearish in the trading session on May 6 because investors’ sentiment was heavily affected by negative fluctuations from the US stock market.
From a drop of 50 points in the morning trading session, the VN-Index unexpectedly closed the trading session on April 26 with a gain of 30 points thanks to the return of large-cap stocks.
The selling pressure continued to prolong in the trading session on April 18, with more than 820 stocks on all three exchanges plummeting to investors' surprise.
The stocks market recorded a strong rally on Thursday, with benchmark indices regaining all losses from the previous session while the VN-Index even topped 1,500 points.
Vietnamese shares rebounded on Wednesday, bolstered by the growth of blue-chip stocks as investors sought stocks that had been hit hard in the previous sessions.
The price of gold in Vietnam retreated from the recently-made record high of VND43 million per tael (1.2 ounces) on August 27 as global bullion price failed to maintain at a more-than-six-year high.
The Vietnam’s stock market nose-dived on March 25 to open week in red as investors dumped blue-chip stocks heavily due to bearish sentiment caused by global securities market.
Although blue-chip stocks made correction after increasing for many trading sessions, Vietnam’s benchmark VN-Index still maintained rising momentum on February 25 as foreign investors’ net buying buoyed up the market.