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Sunday, July 21, 2024

Awaiting a new uptrend

By Trieu Duong

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Following a sharp decline in October, driven by an abundance of negative information that dampened investor sentiment, can the stock market make a recovery in November? What are the key factors that could fuel the VN-Index’s resurgence? October developments In October, the VN-Index declined by a significant 126 points, equivalent to nearly 11%. This drop marked one of the sharpest declines among global stock market indexes for the month. Furthermore, compared to its peak at 1,255 points on September 7, the VN-Index has shed 227 points, or roughly 18%. The closing level at 1,028 points during the final trading session of October also marked the index’s lowest point in the past seven months. In the historical context, this was the second-largest October decline of the VN-Index since 2000, surpassed only by the 23.3% decrease recorded in October 2008. While there were prior forecasts that the stock market might not perform very positively in October, with expectations that it would require additional time to adjust and confront challenges related to cash flows, the actual decline of nearly 11% in the VN-Index caught many by surprise. This downturn came despite Q3 financial statements failing to provide significant support, as several businesses reported […]
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