The VN-Index (VNI) declined 5.8% in April. The VNI saw little change in the first half of the month before tumbling in the second half. On April 15, the VNI (-4.7%) recorded its worst daily performance since May 12, 2022 (-4.8%) and declined throughout the week, resulting in a drop of nearly (-8.0%) during April 15 – 19. Several factors attributed to the correction of the VNI were: (1) Rumors of changes in high-ranking officials; (2) Concerns on the exchange rate outlook; (3) Ongoing foreign outflows; and (4) Retreats in global stock market indices, including the Dow Jones (-5.0% in April), Nikkei 225 (-4.9%), and S&P 500 (-4.2%). However, the VNI recovered in the fourth week of April, reaching 1,209.5 as of April 26 (-5.8% vs end-March), supported by the SSC’s announcement on launching the KRX trading system on May 2 (subsequently canceled) and technology stocks, as FPT signed a deal with Nvidia on data centers.

Powered by Froala Editor