Vietnam’s stock market witnesses historic year
A stock market is one of the “thermometers” of a country’s economy, and last year Vietnam’s market saw many ups and downs but still made historic breakthroughs, creating a solid foundation for 2021.
In talking about last year, Dang Dinh Hiep remembers when the market plummeted in March, then recovered, and then plunged again in July. Given the historic volatility, however, the past year can be said to be successful for many investors.
2020 also witnessed the largest-ever cash flows into the market. There were 86,000 new stock trading accounts in January 2021 - the highest during the market’s 20 years of establishment. These figures reveal the major interest shown by investors in securities as an investment channel, especially new investors.
The rise of the securities market is said to be due to supportive policies from regulators, classifying securities as an essential industry. This contributed to a successful year.
After a year of tackling difficulties, the market has increasingly proven its role as a capital mobilisation channel and the leading investment channel in the economy.
In the new year, with new conditions and policies, the stock market is continuing to look towards historic milestones despite the unpredictable developments in the global situation given that the pandemic is yet to be brought under control./.VNA
Cement, petroleum and retail stocks are those that could see strong rises in 2021.