Vietnamese shares were ending a rough quarter in a sombre mood on Thursday amid increasing selling pressure which caused the VN-Index retreating from the 1200-point landmark.
The market closed largely unchanged on Wednesday as bullish and bearish sentiments entered a tug-of-war.
Vietnamese shares rose on Wednesday, propped up by a slew of banking and energy stocks.
The Vietnamese stock market has gone through nearly half of 2022 with turbulence and remarkable events, especially the Government's crackdown on illegal activities manipulating the market.
While many exporters and producers had orders for 2022, they are worried about a possible shortage of production materials because of supply disruptions from China.
Vietnamese shares on Monday surpassed the 1,200-point mark, underpinned by steel and banking stocks.
Trần Trung Thành, a real estate broker in Bình Thuận and Bà Rịa-Vũng Tàu provinces, said since the beginning of April demand for agricultural lands has seen a sharp slump.
The State Bank of Vietnam (SBV) is mulling over stricter lending regulations, especially to finance purchases of properties and stocks, according to inside sources.
The stock market fell for a third week in the row, but the benchmark remained at the previous bottom of 1,150-1,160 points. Experts said that this is a positive signal helping strengthen investors’ sentiment this week.
The banking industry may have a hard time reaching its 2022 profit growth targets, but share valuation have dropped significantly to attractive prices.
Shares lost rising momentum in the last trading minutes on Friday as divergence continued to expand to the whole market.
Thanks to their good growth potential and attractive valuation, chemical stocks are being included in the portfolios of investors.