return icon Vietnamnet.vn

COVID severely impacts stock markets in Southeast Asia including VN: conference

Stock markets in Southeast Asia including Viet Nam have been severely impacted by the COVID-19 pandemic outbreak, according to studies presented at the annual Conference on Business, Economics & Resources held from November 25 to 26.

 

The Research Centre in Business, Economics, and Resources at the HCM City Open University organised the annual Conference on Business, Economics & Resources online on November 25-26 to share research experiences and discuss policy implications for an emerging market like Viet Nam. — Photo courtesy of the HCM City Open University

 

Pham Tan Toan of Macquarie University, Australia, said his team’s research found the Philippine and Thai stock markets exhibiting the most volatility.

“We also found that the … outbreak had substantially increased the volatility in all six ASEAN markets.

“Volatility … more than doubled in comparison to the pre-pandemic period.

The research studied six stock markets, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam.

Another study on the impact of the pandemic on stock market volatility through the four outbreaks in Viet Nam done by Vu Thanh Nam and Thai Trieu Vi of the International School of Business under the University of Economics HCM City found that the official announcement of the pandemic during the first three outbreaks adversely affected stock market returns.

The effect was slightly less following the announcement of the fourth wave.

“Construction, real estate and manufacturing stocks were the most affected while information and technology, and financial and insurance services were the most resilient across the four waves of the pandemic.”

Le Thai Thuong Quan of the Ho Chi Minh City Open University, said his research team’s findings indicate that after the COVID-19 breakpoints, the volatility across industries increased by 97 per cent.

“The first and second waves … negatively affected many industries while the fourth wave has only impacted a few industries.

“Transportation, commerce and manufacturing experienced the most significant volatility because their variances are double after the COVID-19 breakpoints.

“Our empirical results confirm that the increase in the daily infection cases appears to amplify the volatility while easing … control measures tend to reduce the volatility at the industry level and for the entire stock market.”

Data from the stock market has been used to examine the effects of government responses and policies.

Do Thanh Trung of Military Bank in HCM City said: “Our findings indicate that the Government responses and economic support are associated with an increase in the order imbalance or an increase in buying. Risks from easing the stringency of policies lead to selling pressure.

“We find that buying is more likely associated with workplace closing, restrictions on gatherings and public transport ban than stay-at-home mandates.”

The conference was organized by the Research Centre in Business, Economics, and Resources at the HCM City Open University, and 48 researches were tabled by local and foreign scholars from Australia, Canada, New Zealand, the UK, the US, and others.

Discussion sessions shared research experiences and considered policy implications for important issues for an emerging market like Viet Nam.

The conference series aimed to provide opportunities for young Vietnamese scholars to present and receive constructive feedback to enhance their research skills and enable their papers to be published in top international journals.

Source: VNS

MORE NEWS

VIETNAM BUSINESS NEWS MAY 27

Vietnam to have 184 fishing ports by 2050: draft plan

Omicron subvariants under close scrutiny in Vietnam

The Vietnamese Ministry of Health said it is closely monitoring the emergence of new sub-lineages of the Omicron variant that causes the COVID-19 disease worldwide to promptly adopt control measures if they are reported in Vietnam.

Vietnam elected as member of two ESCAP Regional Center Executive Councils

Two Vietnamese agencies have won election to the Executive Councils of the UN Statistical Institute for Asia and the Pacific and Centre for Sustainable Agricultural Mechanisation under the UN Economic and Social Commission for Asia and the Pacific.

VIETNAM NEWS HEADLINES MAY 27

Dien Bien rushes to evacuate 26 more households over landslide risk

Shelter cares for 20 breast cancer patients in HCM City

No longer allowed to stay in a hospital, a breast cancer patient sold her house to rent and provide a shelter for 20 patients coming from all over the country to Ho Chi Minh City for chemotherapy and radiation treatment.

G&P Global Ratings raises Vietnam’s sovereign credit rating

The S&P Global Ratings on May 26 raised its long-term sovereign credit rating on Vietnam to “BB+” with a “stable” outlook on the back of strong economic recovery, according to the Ministry of Finance.

Domestic airlines offer millions of tickets for summer travel season

Anticipating that travel demand during the upcoming summer will rise sharply, and even higher than the pre-pandemic levels, local carriers are offering millions of air tickets.

American doctor’s endless love for Vietnamese ethnic minority cultures

When listening to him talk for hours and hours about the objects he found by chance on trips to different mountainous regions, it is easy to see Mark Rapoport's passion for the ethnic groups of Vietnam.

Two new Viettel inventions granted exclusive protection certificate in the US

Viettel Aerospace Institute (VTX), a member of Viettel Group, was officially granted an exclusive protection certificate by the US Patent and Trademark Office (USPTO) for two works in the field of optoelectronics and materials industry.

SEA Games 31 fuels recovery of local tourism industry

The hosting of the recent 31st Southeast Asian Games (SEA Games 31) between May 12 and May 23 can be viewed as a golden chance for the local tourism industry to recover after months of little activity due to the impact of the COVID-19 pandemic.

HCM City Mayor shows concerns as doctors turn from ‘heroes’ to ‘violators’

With great efforts in the fight against Covid-19, medical workers have been honored as heroes.

Stopping the licensing of new airlines, restricting the expansion of fleets

Controlling the number of new airlines until the market recovers and restricting licensing to expand fleets in the immediate time are solutions proposed by the State Capital Management Commission (SCMC).

Luxury-tax hike should be postponed until after 2024

Discussing the luxury tax law, experts said it is necessary to design a reasonable taxation roadmap and begin raising the tax only after 2024.

Huge haul in new markets for Vietnam’s tra fish exports

Demand for Vietnam’s tra fish (pangasius) is up in major markets, driving the export of the catfish overseas, reports the Vietnam Association of Seafood Exporters and Producers (VASEP).

Facebook collects money from partners to pay tax in Vietnam

The amount of money Facebook is planning to collect from Vietnamese partners accounts for 5 percent of invoice value. The money will be used to fulfill tax obligations.
back_to_top