VN-Index ends year 10 percent lower
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The VN-Index closed the last trading day of 2018 at 892.54 points, down almost 10 percent from the year’s outset. This was a drop of 93 points from January 2, the first trading day of the year. The benchmark closed below the 900-point mark on Friday, a drop of over 25 percent from its peak at over 1,200 points in April. The VN30-Index, representing the 30 largest tocks in terms of capitalization, closed at 854.99 points, dropping 10.46 from Thursday, or 1.21 percent lower.
Many stocks in the VN30-Index also ended in the red. Diary giant Vinamilk closed at VND120,000 ($5.2), 2.6 percent lower.
Vietnam’s top petro importer and distributor Petrolimex fell 5.69 percent to VND53,000 ($2.3), while food company Masan dropped 1.9 percent to VND77,500 ($3.36).
However, the HNX-Index on the Hanoi Stock Exchange and the UPCoM-Index for unlisted public companies ended in the green, up 0.24 percent and 0.46 percent respectively.
Vietnam’s largest private firm Vingroup (VIC) ended the day at VND95,300 ($4.13), 6.93 percent lower. Vincom Retail’s VRE stock dropped almost five percent to VND27,000 ($1.17).
Total market capitalization of all three stock markets, the Ho Chi Minh City Stock Exchange (HOSE), HNX and UPCoM, was VND4 trillion ($173.25 million).
2018 has proved the most turbulent year for VN-Index since the 2008 crisis, ending an increasing run since 2016.
Questions & Answers
Q.How much did the VN-Index fall from its peak in 2018?
How much did the VN-Index fall from its peak in 2018?
The VN-Index dropped over 25 percent from its peak of over 1,200 points in April. It closed below the 900-point mark on the last trading day.
Q.Did all Vietnamese stock indices end the year negatively?
Did all Vietnamese stock indices end the year negatively?
No, not all of them. While the VN-Index was down, the HNX-Index on the Hanoi Stock Exchange and the UPCoM-Index for unlisted public companies both ended in the green.
Q.When was the last time the VN-Index experienced such a turbulent year?
When was the last time the VN-Index experienced such a turbulent year?
2018 was the most turbulent year for the VN-Index since the 2008 crisis. This ended a period of increasing growth that had started in 2016.
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