The last month of the year saw a mixed picture. While general weakness persisted during December, we saw some bright spots in the broader market ...
December began on a negative foot in all market segments, but losses were limited on relatively light volume and the market was able to rebound a bit.
Several batches ago, we started to see a steady influx of Vietnamese founders applying to our AppWorks Accelerator. It was a rather curious phenomenon because at the time, we had only begun expanding our scope outside of Taiwan to include Southeast Asia and had really only seen inward interest coming from developed markets like Singapore and Hong Kong.
The downtrend continued in November despite a one-day spike by the heavily weighted Vingroup-stocks. Negative sentiment among foreigners was seen both in blue chips and smaller names, with indices down across the board. The HCMC Stock Index lost -2.8% and Hanoi -2.6%.
The big one-day gain in Vingroup-tickers was all the excitement traders could report in the first two weeks of November. This and some gains in a few banks pushed the index in HCMC up +1.1%, and the index in Hanoi gained +0.8%, while mid- and small caps were lower...