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Saturday, June 22, 2024

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The AGM season

March was a tumultuous month given a blend of positive and negative news. Investors are looking into implications for the local stock market in April, when listed companies hold their annual general meetings (AGM). A tumultuous March March was a turbulent month for Vietnam’s stock market due to a series of unforeseen developments and trading sessions. Of the 17 trading days in March (as of March 25), the VN-Index changed 1% or more for 13 sessions, six of them closing with a rise or fall of less than 1%, statistics showed. Liquidity edged up during this period, with nine out of the 17 sessions seeing trading volume exceeding one billion shares on the Hochiminh Stock Exchange (HOSE). The average daily volume reached 1.03 billion shares, up by a significant 25% against February and a remarkable 43% surge versus January. The uptick in trading activity indicates growing investor anxiety about a potential distribution phase in the market. The VN30 group, which consists of large-cap stocks, played a key role in driving market movements in March. There was a mixed performance among bank stocks, with some contributing to market gains while others pushing the index down. Major contributors to the index’s upswings […]
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