Vietnamese Stock ‘evaporated’ over 37 billion USD after 3 months

The Covid-19 plague caused the indices to plummet and the stock market capitalization to evaporate rapidly.

Vốn hóa thị trường chứng khoán đã sụt giảm mạnh sau 3 tháng /// Ảnh: Đ.Ngọc Thạch

The VN-Index closed this week’s session at 696.06 points, down nearly 28% from the 960.99 points of the last session of 2019. Even, in the last 24.3 session, the VN-Index was only 659 points. , 21 points, the lowest after more than 3 years, equivalent to market capitalization on Ho Chi Minh City losing over 860,000 billion. Overall, Vietnam’s stock market after the first 3 months of the year, capitalization has evaporated more than 886,420 billion VND, equivalent to 37.4 billion USD.

The strong fluctuations of Vietnam’s stock indexes were mainly influenced by the complicated movements of the Covid-19 epidemic. At the same time, the global stock market goes down negatively affecting investor sentiment. Besides, the continuous net sales of foreign investors also made many domestic individual investors worried. In the last week of March alone, foreign investors continued to be net sellers with 80.6 million units and net selling value of VND 1,500 billion. This is the 9th consecutive net selling week of foreign investors and it is estimated that only on Ho Chi Minh City floor, foreign investors have net sold more than 10,270 billion dong.

According to KIS Vietnam Securities Company, the last 2 months of strong plunge have pulled the indexes to the lowest level in 5 years. The company believes that this economic downturn is unlikely to develop into an economic recession, so VN-Index is expected to close in 2020 in the area of ​​720 – 840. However, KIS also thinks that the profits of businesses. The industry will be very disappointing in the first half of 2020 but will recover significantly in the second half. Vietnam will be one of the few countries to recover quickly and strongly from the epidemic thanks to the young and dynamic labor force, strong domestic consumption and no significant debt bubbles.

Stocks in many places also went down despite the recent economic support packages launched by many countries. US stocks closed at the end of the week 27.3 in the red because investors focused on the outbreak of Covid-19 when the US became the country with the highest number of cases in the world. Therefore, the record of more than 2,000 billion USD stimulus package signed by President Donald Trump on March 27 also does not help investors to be assured.

The Dow fell 4.06%, to 21,636.78 points; The S&P 500 fell 3.37% to 2,541.47 points and the Nasdaq Composite fell 3.79% to 7,502.38 points. Although these indices have risen sharply by 9.1-12.8% during this week, they are still about 20% lower than the highs set in February and well below the end point of 2019.


Gold price on 26.3: turning down when stocks increased again

Giá vàng hôm nay 12/4: Đồng USD tăng, giá vàng sụt giảm - Ảnh 1

The price of gold on March 26 in the world and in the world all went down after the US stocks continued to have a rising session.
At the beginning of March 26, the price of gold bar at Saigon Jewelry Company (SJC) was listed at VND 46.6 – 47.3 million / tael, down VND 50,000 in both directions. before.
Similarly, the price of gold bar bought by Doji in Hanoi was 46.65 million dong / tael and sold 47.05 million dong / tael, down 200,000 dong / tael in the afternoon, but remained the same. purchase price. Particularly, SJC brand gold piece at Phu Nhuan Jewelry (PNJ) system remained at VND 46.3 – 47.3 million / tael.
On the world market, ending the trading session on 25.3, gold contract delivered in April dropped 27.4 USD to 1,633.40 USD / ounce. At 8am this morning (March 26), the spot gold price also dropped to $ 1,609.3.

According to CNBC, a report showed that orders for US durable goods rose 1.2% in February without seeming to have an impact on March 25 gold trading. Gold prices withdrew from the highest level in two weeks after the US $ 2,000 billion stimulus package of the US Government reached a new agreement to be approved. One of the important contents is that people who are unemployed due to the effects of Covid-19 epidemic will be granted 600 USD / month and last for 4 months.
However, speaking to Reuters, OANDA analyst Craig Erlam said the US stimulus initially had a huge positive impact but still questioned whether it was sustainable in the context of the Covid- 19 complicated developments. Therefore, gold price still has a chance to rise again as the disease continues to spread.
Contrary to gold prices, stock prices rebounded from information of US stimulus package. Closing on March 25, the Dow Jones increased by 495.64 points, equivalent to 2.39% to 21,200.55 points when stocks such as Boeing and Nike increased sharply. The S&P 500 index added 1.1% to 2,475.56 points. Particularly, Boeing shares gained 24% to lead the rise of Dow Jones. However, the Nasdaq Composite decreased by 0.45% to 7,384.30 points.


Supporting the pandemic investor Covid-19, the Ministry of Finance reduced and completely exempted some Stock service since March 19

Service price traded on the base market, derivatives market; Securities depository service will be reduced by 10%

In the context of complicated developments of the epidemic Covid-19, the production – business enterprises facing difficulties, the stock market fell sharply, affecting the interests of investors, the Minister Finance has direct relevant agencies to review all services by the State securities valuation, based on which was promptly issued Circular No. 14/2020 / TT-BTC dated 18/3 / 2020, of which declined and completely free collection of 15 types of securities services to support the stock market before the impact of translation Covid-19, as follows:

Discount 10% – 50% range of services base stock, derivative

Accordingly, transaction services on the basis of the market, the derivatives market; securities custody services will be reduced by 10%.

Service Management position, managing collateral on derivative securities market will be reduced from 15% – 20%.

Management services listed warrants secured; service done right; transfer of securities services; auction services, competitive offering will be reduced from 30% – 50%.

No fee, totally 6 services for free

In addition, the Ministry of Finance will not charge, completely free for 6 services include: Service listing registration; registration of securities; online service that connects the first time; loan services, securities lending through the VSD system; Register derivative securities transactions; Register clearing.

On the basis of the discounted services specified in this Circular, organizations providing services in the field of securities specified in Article 2 of Circular No. 128/2018 / TT-BTC dated 27/12/2018 implementation even discounting services under their respective suppliers to support organizations and individuals use the services affected by the epidemic Covid-19, in accordance with the actual service providers, provisions price laws and related legislation.

Time to apply discounts and free of charge using the services specified in the Circular at least within 5 months (from 03/19/2020 to end on 08/31/2020). Where Covid-19 situation continues complicated, the Minister of Finance will review, decided to extend the period of application of this Circular in case of necessity.