Stock market turbulence: $35 billion lost

The stock market continued to decline with another $12 billion lost, following the loss of $23 billion one month before.

Stock market turbulence: $35 billion lost

Another turbulent trading session occurred on January 28. This appeared to be the sharpest fall in history with the VN Index losing 70 points, or 6.5 percent. $12 billion was lost within one morning.

After a succession of daily increases, the stock market has declined in the last couple of weeks. The January 28 closing VN Index tumbled to 1,026.27 points, and the HNX Index to 204.77 points (- 16.02 points) and UpCom Index to 69.98 points (- 4.48 points).

On January 19, the stock market witnessed the VN Index decreasing by 75 points in the morning session, which was higher than the decreases in any other trading session in the 20-year history of the market.

As such, the VN Index has lost 15 percent since January 7, when it nearly hit the 1,200 point threshold. The other indexes have seen similar decreases and the capitalization value of the entire market has decreased by $35 billion.

Prior to that, investors hoped that the market would exceed the record high of 1,204 points seen some years ago and would reach a 1,300 point threshold in the first half of 2021.

Analysts said the stock prices dropped sharply on January 28 morning because of bad news, including information about a number of newly infected Covid-19 cases in the community in Hai Duong and Quang Ninh, the decline of US stocks and the high pressure on call margin.

All the 30 shares in VN30 group saw prices decreasing sharply in this trading session, 20 of which saw prices decreasing to the floor price levels.

However, the demand for bottom fishing has been high in recent sessions. Roughly VND16.5 trillion worth of shares were traded on the three bourses on the morning of January 28.

 

The downward trend after a succession of days of increases was foreseeable. However, the sharp decreases are a surprise. Many new investors (F0) are surprised about the sharp falls and panicked, trying to sell shares by any means.

The representative of a HCM City-based securities company confirmed that new investors followed the crowd in buying stocks and they tried to sell stock en masse amid the market happenings. A lot of investors incurred a loss of tens of percent within a short time.

Prior to that, some analysts predicted that the market would see a decline in Q1 before increasing again in Q2, when listed companies will announce their business plans for 2021.

The Vietnamese stock market is expected to increase further in 2021 thanks to the positive factors of the economy. The GDP is predicted to grow by 6-6.8 percent this year. 

V. Ha

Stock market plummets, $10 billion lost

Stock market plummets, $10 billion lost

The Vietnamese stock market saw an unprecedented plunge on January 19. But panic did not occur.

New entity to invigorate Vietnam’s stock markets

New entity to invigorate Vietnam’s stock markets

With general optimism well-founded for Vietnam’s stock market building in the past year, there is now significant anticipation for 2021 with the arrival of a new entity to run the country’s exchanges.

 
 

Other News

.
GDVC licenses Hateco Group’s customs clearance site for post and courier items
GDVC licenses Hateco Group’s customs clearance site for post and courier items
BUSINESSicon  06/05/2021 

The General Department of Vietnam Customs has issued Decision No.1189/QD-TCHQ to grant an operational license for the customs clearance site for post and courier items of Hateco Group. The site is located in Long Bien Inland Clearance Depot in Hanoi.

Natural island estate attracts foreign investors
Natural island estate attracts foreign investors
BUSINESSicon  05/05/2021 

Not only attracting domestic customers, residential areas on natural islands also attract overseas Vietnamese and foreign investors thanks to convenient, classy and private ecological living spaces.

UCC coffee quality contest aims at supporting VN coffee production and farmers
UCC coffee quality contest aims at supporting VN coffee production and farmers
BUSINESSicon  06/05/2021 

Through the annual UCC Coffee Quality Contest, UCC Group has been contributing to promoting and improving the quality of Vietnamese coffee, towards the goal of sustainable development.

Copper production at the country’s largest mine
Copper production at the country’s largest mine
BUSINESSicon  05/05/2021 

During the holidays, workers at Sin Quyen and Tang Loong copper smelting factory in Lao Cai have still been on duty to manufacture and provide tonnes of 99.9% purity copper for electrical appliance production factories across the country.

Development of agri-food sector needs untying knots in mechanisms
Development of agri-food sector needs untying knots in mechanisms
BUSINESSicon  04/05/2021 

The agri-food industry has been maintaining high resistance to the Covid-19 pandemic, with the potential to boost economic recovery. It posted a growth of 4 percent in 2020, equivalent to a gross domestic product (GDP) contribution of US$3.7 billion.

Some 430 businesses leave market every day in Jan-Apr
Some 430 businesses leave market every day in Jan-Apr
BUSINESSicon  04/05/2021 

Some 430 businesses left the market, while only 368 new businesses were established on a daily basis from January to April 2021, according to the Ministry of Planning and Investment.

Vietnamese strategy: overcoming the pandemic, maintaining high economic growth
Vietnamese strategy: overcoming the pandemic, maintaining high economic growth
FEATUREicon  05/05/2021 

Vietnam’s economy is witnessing an impressive rebound and is expected to be among the best recovering economies in the world despite Covid-19 resurgence in neighboring countries.

Construction Ministry to cool down real estate market, prioritize affordable housing
Construction Ministry to cool down real estate market, prioritize affordable housing
BUSINESSicon  04/05/2021 

Minister of Construction Nguyen Thanh Nghi said the ministry will change the policies related to the development of affordable housing by adopting a new mindset.

European businesses’ confidence on Vietnam outlook reaches highest since Covid-19 emergence
European businesses’ confidence on Vietnam outlook reaches highest since Covid-19 emergence
BUSINESSicon  04/05/2021 

Vietnam is on the right path to achieving its twin goals of protecting health and promoting economic growth, stated Chairman of the European Chamber of Commerce in Vietnam (EuroCham).

'Nature - based' farming a winner in Mekong Delta
'Nature - based' farming a winner in Mekong Delta
BUSINESSicon  04/05/2021 

All of the delta’s 12 provinces and its major city, Can Tho, have been able to turn more unproductive rice fields into fruit tree and other crop...

Vietnam Airlines reports losses of nearly VND5 trillion in Q1
Vietnam Airlines reports losses of nearly VND5 trillion in Q1
BUSINESSicon  04/05/2021 

Vietnam Airlines incurred after-tax losses of nearly VND5 trillion in the first quarter of this year, surging over 90% year-on-year and the highest-ever losses recorded for a quarter, as the COVID-19 pandemic is emerging increasingly complicated.

The secret of mutant orchids selling for billions of VND
The secret of mutant orchids selling for billions of VND
FEATUREicon  04/05/2021 

Mat Nai (baby eyes), Gai Nhay (dancing girl), Hien Oanh, Ngoc Son Cuoc, Bao Duy, Bach Tuyet (Snow White), Buom Dai Ngan (jungle butterfly) and Hong Yen Thuy are some of the names given to mutant orchids. Some of them have sky-high prices.

Coolcat trading floor collapses, more than VND200 billion vanishes
Coolcat trading floor collapses, more than VND200 billion vanishes
FEATUREicon  04/05/2021 

Investors, from freelancers in Hanoi to sale officers in HCM City, have poured several million VND to several hundreds of million dong into Coolcat. About VND200 billion (nearly US$9 million) is likely to disappear.

It needs objective remarks for rice export decline
It needs objective remarks for rice export decline
BUSINESSicon  02/05/2021 

There are different remarks over the good harvest and export prices of rice in the Mekong Delta but the strong decline in rice export volume.

Vietnam’s digital economy to hit 52 billion USD by 2025
Vietnam’s digital economy to hit 52 billion USD by 2025
BUSINESSicon  02/05/2021 

Vietnam’s digital economy will likely reach 52 billion USD in value by 2025, according to the e-Conomy SEA 2019 report by Google, Temasek and Bain & Company.

Multiple financial risks still challenge Vietnam
Multiple financial risks still challenge Vietnam
BUSINESSicon  02/05/2021 

Global financial markets have been negatively hit and significantly shaken by the ongoing unpredictable, relentless and complicated developments under the Covid-19 pandemic, leading to continued global financial instability.

Foreign partners help to lay foundations for Vietnam’s rise
Foreign partners help to lay foundations for Vietnam’s rise
BUSINESSicon  02/05/2021 

In the 46 years since national reunification, Vietnam’s development has witnessed great strides with major contributions from foreign investment, which has been targeted to continue being an important driver of the domestic economy.

Development of supporting industry for automobiles awaits breakthrough policies
Development of supporting industry for automobiles awaits breakthrough policies
BUSINESSicon  02/05/2021 

Automobile sales in Vietnam are forecast to reach 1 million units a year by 2025, opening up substantial opportunities for businesses to develop a supporting industry for the sector.

Local steelmakers red hot on investment
Local steelmakers red hot on investment
BUSINESSicon  02/05/2021 

Over recent months, the steel market has retained positive momentum after its recovery in mid-2020, helping many steel producers record a strong performance in the first quarter of 2021.

Index results spark reforms in Vietnamese metropolises
Index results spark reforms in Vietnamese metropolises
BUSINESSicon  01/05/2021 

Despite strong efforts, major cities like Hanoi and Ho Chi Minh City are still lagging behind in the 2020 Provincial Competitiveness Index, triggering concerns over the efficacy of their reforms.

 
 
 
Leave your comment on an article

OR QUICK LOGIN