The stock market’s recovery momentum remains uncertain as the VN-Index continues to linger in a correction phase, evident in the weekly chart. A recovery in progress? Having dropped to a low of 1,198 points on November 20, the VN-Index rebounded quickly, showing signs of recovery. By the close of trading on November 25, the index had climbed to nearly 1,235 points, marking a gain of 37 points over four sessions—a rise of more than 3%. This comes after a prolonged correction from a mid-October peak of nearly 1,300 points. The market now shows tentative signs of upward movement. Bank stocks have been pivotal in driving this recovery. Among the top 10 contributors to the VN-Index’s 37-point gain during these four sessions, six were of banks, collectively adding 9.3 points. Notable performers include CTG (VietinBank) with a contribution of 2.3 points, TCB (Techcombank) with 1.9 points, VCB (Vietcombank) with 1.7 points, BID (BIDV) with 1.3 points, VPB (VPBank) with 1.1 points, and MBB (MBBank) with 1.0 point. Bank stocks, which have constantly declined since mid-October, are now showing signs of short-term recovery. Banks remain resilient despite a potential peak in bad debt. Positive profit growth projections for this year have made […]
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