Mr. Tran Van Dung, Chairman of the SSC, stated that answer packages on financial and monetary insurance policies of the US and different international locations are crucial. Nevertheless, the truth that the US Federal Reserve slashed rates of interest too sharply and declared a nationwide emergency with out following its common assembly schedule has affected the sentiment of traders world wide, together with Vietnam. Subsequently, the worldwide inventory market usually and Vietnam’s inventory market specifically within the subsequent days will probably expertise upward and downward fluctuations interweaved at a reasonably excessive price.
Amid the present context, the SSC will proceed to handle the inventory market with the angle of respecting the self-regulation following the supply-demand relationship, minimizing administrative and technical interventions to the market when it isn’t crucial.
When the nation can management the illness, with the inner assets of the financial system, there are nonetheless many foundations to anticipate the optimistic development of the financial system usually and the inventory market specifically.
‘Within the present context, the SSC hopes that enterprises, middleman monetary establishments, and traders will proceed to belief the inner assets of the financial system, measures of the Authorities and ministries, in addition to the endurance of Vietnam’s inventory market to assist the market to regain the expansion momentum, particularly avoiding pointless sell-offs,’ stated Mr. Tran Van Dung.
In associated information, affected by a nosedive of the US inventory market within the earlier evening, Vietnam’s inventory market opened the buying and selling session on March 17 with a lower of 24 factors regardless of sturdy bottom-fishing demand. Luckily, the bottom-fishing money movement into the market was massive, serving to the VN-Index to regain quickly. Ending the morning buying and selling session, the VN-Index merely shrank round 7 factors. Though the promoting strain remained sturdy within the afternoon buying and selling session, many shares loved sturdy backside fishing demand, sending them from shedding to reference value, and even rising, serving to the VN-Index someday to not solely recoup all of the factors it misplaced within the buying and selling session, but additionally change to barely advance.
Ending the buying and selling session, the VN-Index slipped 2.08 factors, or 0.28 %, to shut at 745.78 factors with 211 winners, 154 losers whereas 60 shares remaining unchanged. In the meantime, the HNX-Index of the smaller bourse within the North surged 1.1 factors, or 1.1 %, to shut at 100.72 factors with 81 shares climbing, 68 declining, and 42 standing nonetheless. Market liquidity remained at a excessive stage with the entire buying and selling quantity reaching 340 million shares, price greater than VND4.9 trillion. International traders nonetheless web offered practically VND600 billion out there.
The worth of gold fell by practically VND1 million per tael after the worldwide gold value plunged by practically US$100 an oz. At 4.30 p.m. in Ho Chi Minh Metropolis, Saigon Jewellery Firm listed the value of gold at VND45.1 million per tael for purchasing and VND46.02 million per tael for promoting, down VND800,000 per tael in each shopping for and promoting charges. On the similar time in Hanoi, Bao Tin Minh Chau traded gold at VND45.Four million per tael for purchasing and VND46.1 million per tael for promoting, up VND200,000 per tael in shopping for value and VND300,000 per tael in promoting value.
Within the international market, the bullion value recovered to above $1,495 an oz however nonetheless misplaced round $50 an oz in comparison with the earlier buying and selling session. After conversion, the worldwide gold value was at VND42 million per tael, greater than VND4 million per tael decrease than the home one.