Despite the benchmark''s gain, trading activity weakened further. Total turnover across the market reached only about VNĐ14.4 trillion (US$546 million), down 9 per cent from the previous session.
Persistent foreign selling and sharp losses in property shares dragged the VN-Index lower on Wednesday, despite stronger trading activity and gains in energy stocks.
Việt Nam’s benchmark VN-Index climbs back above 1,800 points for the first time since early March, driven by property stocks, though weak breadth and foreign outflows signal lingering caution.
Vietnamese shares fell after two sessions of gains as banking and securities stocks declined, while the VN-Index closed below 1,710 amid volatile trading.
Vietnamese stocks rebounded on Monday as strong gains in banking and materials shares helped lift the VN-Index nearly 24 points, recovering part of the losses after last week’s historic market sell-off.
It is highly possible for Việt Nam’s stock market to be upgraded to emerging market status in September, Deputy Minister of Finance Nguyễn Đức Chi said at the ministry’s press conference on Wednesday.