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Ho Chi Minh City
Monday, July 15, 2024

Big money moving in market

By Trieu Duong

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With the money placed in bank accounts at a high interest rate late last year and early this year reaching maturity, plus the central bank’s policy interest rate cuts, a massive volume of cash from the savings channel has probably begun to shift away. Liquidity soars After the State Bank of Vietnam (SBV) brought down its policy interest rates for the third time in late May, liquidity in the stock market started to vastly improve. Specifically, the average matched trading volume on the HOSE was 639 million shares per session during the week from May 22 to 26, before it shot up 32% to nearly 842 million shares a day between May 29 and June 2. Later, from June 5 to 9, the trading volume further rose by 11% to nearly 932 million shares per session on average, with remarkably a record high of over 1.2 billion shares on June 8. During the week from June 12 to 16, however, the trading volume fell by 10%, averaging out at nearly 839 million shares per session. The reason is said to be that investors are afraid of the ongoing profit-taking pressure, and currently waiting for the outcome of the meeting of […]
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