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Monday, June 17, 2024

A year-end rally?

By Trieu Duong

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November 2023 saw a dynamic series of shifts in the stock market, encapsulated in a compelling narrative: commencing with an early descent to the depths, followed by a rapid ascent to mid-month heights, and then marked by downward corrections and consolidation during the latter half. The question that now looms is: What trajectory will the market embark upon in December? From plunge to rebound and consolidation In the aftermath of the severe downturns that plagued September and October, where losses reached a staggering 6.5% and 10% respectively, the VN-Index staged a remarkable resurgence in November. It culminated in an impressive 6.2% increase, marking the second most significant monthly gain this year, following closely behind the 8.2% surge in July. Nevertheless, it is important to note that this resurgence was primarily witnessed during the first half of November. As the month progressed, the market displayed signs of ambivalence, swaying sideways, with investor sentiment increasingly influenced by unfavorable developments. To delve into specifics, following an impressive approximately 10% surge in the first half of November, the VN-Index experienced intermittent setbacks in the latter part of the month. At certain junctures, these declines reached as much as 5%, eventually mitigating to 3.4% in […]
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