HCMC – Dr. Nguyen Tri Hieu, financial and banking expert, warned that the increasing tensions between Russia and Ukraine would negatively affect Vietnam’s stock market.
The Russia-Ukraine crisis has been a source of market pressure recently in some countries. All three major indexes of the U.S. stock market – the Dow Jones Industrial Average, the S&P 500 Index and the Nasdaq Composite – have slipped as investors watch tensions between Russia and Ukraine rise. In Vietnam, investors are keeping a close watch on the situation as they worry about the negative impact of the crisis on the local stock market.
However, Dr. Hieu said the crisis can bring both bad and good news.
“In 2020 and 2021, the local stock market was overheated, outpacing major elements of the economy. I’m afraid that if the stock market maintains this growth momentum, stock market bubbles may incur,” he said.
“Therefore, the overheated stock market needs to be adjusted. This will significantly depend on how the Russia-Ukraine tensions are handled.”
In related news, the VN-Index of the Hochiminh Stock Exchange rose 0.59%, or 8.83 points, to close at 1,512.3 points today, February 23.
Winning stocks outnumbered losing ones by 326 to 111. Some 694.7 million shares worth nearly VND22.4 trillion changed hands on the southern market, falling 23% in volume and 20% in value against the previous session.
On the Hanoi Stock Exchange, the HNX-Index rose 1.87%, or 8.12 points, to close at 442.54 points, with 169 winning stocks and 50 losing ones. More than 113 million shares worth some VND3.3 trillion were transacted on the northern market.