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Wednesday, July 24, 2024

A sweet July for stock market

By Linh Trang

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The VN-Index has recently concluded a trading month with outstanding performance, underscoring its growth potential as an investment avenue in the latter half of 2023. A positive turnaround Following a modest start in the first quarter of 2023, Vietnam’s stock market has exhibited a notable trend of substantial growth and recovery since the start of the second quarter. In July alone, the VN-Index achieved an impressive surge of 9.2%, easily surpassing the 1,200-point mark—the highest level in 10 months. Beyond the marked increase in index points, the liquidity data underscores the promising and optimistic trajectory of the market. To elaborate, the average liquidity per session during July stood at approximately VND18.36 trillion, an 8% rise from June and a substantial 53.2% surge compared to the average of the preceding five months. The exceptional upswing of the VN-Index in the previous month has contributed to the robust overall performance of the local stock market in the year to date (+21.4%), outpacing many other major markets such as the U.S. (+19.3%) and South Korea (+17.7%), and trailing just behind Japan (+27.1%). Parallel to the VN-Index’s trajectory, the HNX-Index recorded a 5.4% increase in July, while the UPCoM-Index advanced 3.9%. These figures serve […]
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