He said the stock market grew strongly in the first quarter of 2018 when the benchmark VN-Index on the Ho Chi Minh Stock Exchange broke the record set in 2007 to hit 1,204.33 points on April 9, up 22.4 percent from the end of 2017. However, from mid-May to May 23, the market recorded trading sessions mixed with strong gains and falls. Vietnamese shares are forecast to recover in June. VN-Index dropped by 18 percent from the record on April 9 to 985.92 points on May 24. Dung attributed the nosedive in May partly to a fall in the global stock market due to the world economic and political situation. Though trade tension between the US and China eased, investors still feared a trade war between these two biggest economies of the world. Another negative impact is the possibility of the US Federal Reserve and the European Central Bank raising interest rates. Foreign investors began to withdraw money from emerging markets, including those in Southeast Asia. Stock markets around the world, from the US, Europe to Asia, have posted declines since January 2018, mostly down between 7 and 10 percent. Meanwhile, the Vietnamese stock market grew strongly for a… Read full this story
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