The financial market faces six risks the market will have to cope with in 2010, according to Can Van Luc, chief economist of BIDV.

In the first days of the Year of the Rat, the economy has been experiencing unfavorable conditions because of the coronavirus outbreak, originating from Wuhan City, China.

Despite its young age, the Vietnamese stock market has made great contributions to economic development in the last 20 years.

Chair of the State Securities Commission (SSC) Tran Van Dung commented that the investors have ‘overreacted’ to the nCoV outbreak, believing that the market will recover when the epidemic peaks, as it happened with SARS and H5N1.

The ‘January effect’ hypothesis proved to be true when the Vietnamese stock market saw stock prices increasing in the last 12 out of 19 years in the month of January.

The outbreak of the acute respiratory disease caused by the novel coronavirus has hit Vietnam’s stock exchange over recent days as shares hit a three-year low.

Private sector development and the expected stock market upgrading will help Vietnam attract foreign capital even if the conditions are not that favorable, according to SSI Research.

The MoF announced the financial situation and production of Song Da Corporation, with the total revenue in 2018 reaching $78.26 million, down 32.2 per cent.

The stock market in 2019 closed with a VN Index increase of 7 percent, an average achievement, though the macroeconomic indicators were very good and the State Bank loosened monetary policy.

Japan-based firm Saibu Gas Co Ltd has become the large shareholder in PetroVietnam Low Pressure Gas JSC (PV GasD).

The newly set indexes, plus the possibility of the market upgrading, have led observers to believe that ETF will attract foreign capital.

The reliance of private enterprises, business households and individuals on bank credit has brought both positive and negative effects.

Stocks in the FLC family, especially that of construction firm ROS, drew the attention of investors amid the local market’s slight rebound today, January 14, while liquidity in the local market also significantly improved.

Vietnam will celebrate the 20th anniversary of the stock market establishment in 2020.

In 2019, foreign investors bought in shares worth VND3.7 trillion (US$159.67 million), but offloaded over US$4.4 trillion (US$189.88 million).

The VN Index may bounce back and reach the 1,000 point threshold again in 2020, or it may come closer to its peak in 2018 thanks to good macroeconomic conditions, foreign capital flow and reasonable valuations.

One of the major issues stipulated in the amended Securities Law which takes effect on July 1, 2020 is the establishment of the Vietnam Stock Exchange.

Once completed listing on the Ho Chi Minh City Stock Exchange, Vietnam Rubber Group would be the second largest firm in terms of registered capital, behind BIDV.

Pham Nhat Vuong, president of Vingroup, and Nguyen Thi Phuong Thao, CEO of Vietjet Air and vice president of Hdbank, top the 2019 list of Vietnamese stock billionaires.

Vietnam was still attractive to investors in 2019 despite global caution about US President Donald Trump’s policies.