VN Index up 12.8% in January

Next Story

Vietnam seeks to build universities of international stature

The VN Index, Viet Nam’s benchmark stock index, grew 12.8 per cent in January, as it joined the top three best performers in the world in the first month of 2018, just behind Argentina (16.21 percent) and Nigeria (15.95 percent). In the last three months, the VN Index has rallied 32.62 per cent, topping the world’s fastest-growing markets.

The index ended January 31 at 1,110.36, close to its highest ever record of 1,167, seen on February 27, 2007.

In addition to the index’s growth, liquidity has also improved significantly, with its trading value averaging VND7.5 trillion (US$329 million) per session on the HCM Stock Exchange in January. In recent sessions, the daily trading value has been around VND10 trillion.

On the minor Ha Noi Stock Exchange, the HNX Index witnessed a more modest growth of 7.7 per cent in January.

The breakthrough in Viet Nam’s stock market was mainly attributable to optimistic macro-economic fundamentals, positive business results of listed companies, as well as high investor expectations for State divestment plans among many large State corporations.

Deputy Prime Minister Vuong Dinh Hue has said that 2018 will be the peak year for equitization of State-owned enterprises (SOEs) and State capital divestment.

In the first quarter of this year, four enterprises will offer their initial public offerings, including Viet Nam Rubber Corporation, PetroVietnam Oil Corporation, Binh Son Refining and Petrochemical Company and PetroVietnam Power Corporation – the four largest SOEs by capitalisation among the 69 SOEs listed in the equitisation plan of 2017.

Another major push was caused by the strong inflows of foreign capital. Foreign traders were responsible for net buying values of nearly VND8.5 trillion in January, after total net purchases of VND28 trillion in Viet Nam’s stock market in 2017.

More From the Author

  • Vietnam to Host 2019 U.S.- N.Korea Summit
  • Key Facts and Figures of US-Vietnam Relations
  • Happy TET 2019 Year of the Pig
  • A Bright Future for Baseball in Vietnam
  • Happy Holidays from Vietnam!
  • 500 largest enterprises in Vietnam
  • Adventure, Science and Research defined Dr. Alexandre Yersin
  • French PM visits Vietnam
  • E-commerce is booming in Vietnam
  • Vietnam jumps to 45th place in Global Innovation Index
  • How is changing lives
  • US-based Private Equity firm to establish real estate investment fund in Vietnam
  • Hanoi to host International Real Estate Conference
  • Tourists flocking to Vietnam’s idyllic sand sculpture park
  • First Solar Power Purchase Contract in Vietnam is Signed
  • FutureDocs Abroad Meet in Hue, Vietnam
  • HOSE releases updates for VN30 basket
  • Super Foods are Replacing Rice
  • Vietnam Students Win 3rd Place at Intel Competition
  • Pacific Horizon Pictures Slates Vietnam Film with ‘Crazy Rich Asians’ Producer Ivanhoe
  • Leave a Reply

    Subscribe Today

    We will send directly to your inbox the latest Vietnam investment commentaries, travel tips and "in the know" tidbits! 
    Join the Vietnamese IN CROWD!
    First Name
    Email address