Shares bounced back slightly in the afternoon trade but the VN-Index still lost 60.94 points, or 5.11 percent, closing the January 19 session at 1,131 points.
Analysts from securities companies are optimistic about stock market movement during the first trading week of this year and betting the positive trend will continue.
Prime Minister Nguyen Xuan Phuc has signed Decision 37/2020/QD-TTg on the establishment of the Vietnam Stock Exchange (VNX), with the aim of unifying the stock market and ensuring efficient, fair, open and transparent activities.
Trading value on the Hanoi Stock Exchange (HNX) totalled 857 billion VND (36.8 million USD) per trading session in October, up 16.5 percent against last month.
The Vietnam Securities Depository (VSD) in August issued securities trading codes to 296 foreign investors, the highest recorded within eight months but down 8.6 percent over the same period last year.
Experts have made differing predictions about the trend of the local stock market next week, saying it remained hard to forecast as price movements have been sensitive.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) took a nosedive to close at 835.49 points on March 9, recording the worst slump since 2002.
Margin lending may be allowed on the Unlisted Pubic Company Market (UPCoM), the State Securities Commission (SSC) vice chairman Pham Hong Son has said.
The year 2019 was full of difficulties, and thanks to high efforts of relevant parties, the stock market did not witness a big collapse, said an official of the State Securities Commission of Vietnam.
The VN-Index is expected to enter an uptrend towards a new resistance zone after successfully penetrating the psychological resistance mark of 1,000 points, analysts said.
Brokerages proposed different scenarios for the movement of VN-Index from now until the end of the year depending on the world's economic growth prospects.
The market sentiment will remain lateral in September weighed down by global economic and political tensions while trading quiet amid speculations of Q3 corporate earnings.
Investors may want to brace for a bumpy trading week as the Vietnamese stock market is still vulnerable to the unpredictability of global shocks in geographic, political and economic conditions.
Green margins dominated the stock market on May 20, helping the benchmark VN-Index easily rise by 10.65 points from last week’s last trading day (May 17) to reach 987.13 points.
The benchmark VN-Index ended in green on May 13 when it grew by 5.99 points, or 0.63 percent, from the last trading session of the previous week to 958.54 points.
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XIII National Congress of Communist Party of Vietnam
