Thu, 02 Dec 2021

HANOI, Nov. 25 (Xinhua) -- Vietnam's benchmark VN-Index rose 0.8 percent to reach an all-time high of 1,500.81 points on Thursday with some 31.8 trillion Vietnamese dong (1.4 billion U.S. dollars) poured into the market.

On Wednesday, the VN-Index benchmark surged 1.72 percent to a record 1,488.87 points, with banking stocks leading the blue chip growth.

In recent months, the Vietnamese stock market has recorded new highs regardless of concerns over the COVID-19 pandemic and market fluctuations globally.

Notably, the index has increased by 33.9 percent since the beginning of 2021, and by over 120 percent from its low in March 2020 when the Southeast Asian country was hit by the first COVID-19 outbreak.

According to local securities analysts, vibrant transactions which have continuously set new records in value are playing an important role in fueling the market rise. In particular, transactions totaled over 56.3 trillion Vietnamese dong (nearly 2.5 billion U.S. dollars) for the single session on Nov. 19.

The Vietnamese stock market has regularly witnessed sessions with value topping 1 billion U.S. dollars since early this year, compared to around 277 million U.S. dollars per session in 2020, according to the Ho Chi Minh Stock Exchange, on which the VN-Index is based.

The Vietnamese stock market has attracted a large number of new individual investors in the past few months. COVID-19 restrictions and mandatory working-from-home were among the factors leading them to the online investment operation, said local experts.

In the first 10 months of this year, nearly 1.09 million new trading accounts of individual investors were opened, tripling the number for the whole year of 2020 and higher than the total number of 1.03 million accounts set up between 2017 and 2020, according to the Vietnam Securities Depository.

The confidence in a bright outlook of the Vietnamese economy has encouraged the investors to put more money in the stock market.

The investors' confidence has strengthened with reopening of the economy, higher rates of the COVID-19 vaccination nationwide, positive business results of listed companies, and large-scale stimulus packages, local experts said.

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