The crisis between Russia and Ukraine has recently been a source of market pressure in some countries. All three major US stock market indices — the Dow Jones Industrial Average, the S&P 500 Index and the Nasdaq Composite — have fallen as investors watch tensions build between Russia and Ukraine.
In Vietnam, investors are closely monitoring the situation as they worry about the negative impact of the crisis on the local stock market.
However, Nguyen Tri Hieu, financial and banking expert, said the crisis could bring both bad and good news.
“In 2020 and 2021, the local stock market was overheated and outperformed key elements of the economy. I am concerned that if the stock market maintains this growth momentum, stock market bubbles will form,” Hieu said.
“That is why the overheated stock market needs to be adjusted. This will largely depend on how tensions between Russia and Ukraine are handled.”
In related news, the Ho Chi Minh Stock Exchange’s UN index rose 0.59%, or 8.83 points, to close at 1,512.3 points on Feb. 23.
###: Breaking: Russia attacks Ukraine because “a military operation was needed to protect civilians in eastern Ukraine”
The number of winning stocks surpassed the losing ones by 326 to 111. About 694.7 million stocks worth nearly VND 22.4 trillion changed hands in the Southern market, dropping 23% in volume and 20% in value at compared to the previous session.
On the Hanoi Stock Exchange, the HNX index rose 1.87%, or 8.12 points, to close at 442.54 points, with 169 winning stocks and 50 losing. More than 113 million shares worth approximately VND3.3 trillion were traded in the northern market.
By the Saigon Times
