- 2022-12-02T00:00:00
- Strategy
The VN-Index (VNI) gained 2% in November after hitting a two-year low. Market sentiment further deteriorated in the first half of November as investors were increasingly concerned about the overall business outlook, which has been negatively affected by higher interest costs, currency depreciation, a global economic slowdown, the impact of the implementation of new corporate bond regulations on the real estate sector and overall economy, and the impact of potential investigations by authorities on several firms. The VNI tumbled to a two-year low of 912 points (-11.3% MTD) on November 15, before rebounding in the second half of the month on bottom-fishing and strong net foreign buying. The VNI ended a two-month losing streak to close November at 1,048 points, marking a monthly gain of 2%. Nevertheless, from the beginning of the year through November, the VNI had plunged 30.0%, underperforming neighboring markets such as Indonesia’s JCI (+7.6%), Thailand’s SET (-1.3%) and the Philippines’ PCOMP (-4.8%).
Powered by Froala Editor