The VN-Index of the Hochiminh Stock Exchange has been recovering steadily since mid-August. It has now approached the 1,300-point mark once more. What is driving up the market and how might September play out? Positive gains After a sharp rise on August 16, the VN-Index added another 33 points during the week from August 19 to 23. Liquidity also improved and trading volume surpassed the average of previous sessions, indicating a return of investor interest and an increase of market activity. Bank, securities, real estate and retail stocks have been the main drivers of the market’s growth. Notably, stocks like VCB, BID, CTG, TCB and VHM were key contributors to the VN-Index’s rise during the said week. Expectations of higher economic growth have been a supportive factor for these stocks, and the market appears to be pricing in these expectations. The World Bank (WB), in its newly released update, revised up its forecast for Vietnam’s GDP growth to 6.1% in 2024, with the potential to reach 6.5% in 2025-2026. This is a more optimistic outlook than the WB’s April prediction, which put Vietnam’s economic growth at 5.5% for this year, and 6% next year. These more positive assessments are based […]
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