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Thursday, June 20, 2024

Hunting for a bottom

By Trieu Duong

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Amid the prevailing market dynamics, several stocks that hit rock bottom in November 2022 have made remarkable recoveries, delivering substantial gains to investors. However, a select few stocks are yet to find their footing and establish a new bottom. Revisiting the abyss The Vietnamese stock market finds itself amidst a protracted correction phase that commenced in mid-November 2023, with the VN-Index enduring a 4% decline in the trading session on November 27. In comparison to its peak at 1,255 points attained in early September, the VN-Index has tumbled more than 13.5%. Nevertheless, it has managed to retain a growth of over 6.5% from the beginning of the year. While the broader market continues to fluctuate, some stocks that reached their lowest point in November 2022 have staged remarkable rebounds, bestowing generous profits upon investors. Notably, the banking, securities, and real estate sectors have exhibited such resilience, particularly stocks that have benefited from the downward trajectory of interest rates since the start of the year. Certain stocks have seen a downturn in recent times, even during periods of overall market upswings. A prime example is the once-renowned blue-chip stock MWG of Mobile World Investment Corporation (listed on the HOSE), whose share […]
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