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.
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.
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.