Wall Street rebounded sharply in the March 24 session when oil prices plummeted by more than 10% thanks to expectations of cooling down US-Iran tensions, leading to a clear improvement in investor sentiment. At the close of the session, the S&P 500 index increased by 1.15% to 6,581 points, the Nasdaq Composite increased by 1.38% to 21,946 points, while the Dow Jones jumped by 631 points, equivalent to 1.38%, to 46,208 points.
European financial markets and Asian stock markets this morning also recovered, including the Vietnamese market. Green color is dominating in most industry groups.
Closing the morning session on March 24, HOSE had 274 gainers and 59 losers, VN-Index increased by 31.52 points (+1.98%), to 1,622.69 points.
Total trading volume reached more than 428 million units, worth 10,945.8 billion VND, down 15% in volume and 19% in value compared to yesterday's morning session. Block transactions contributed more than 27.8 million units, worth nearly 926 billion VND.
The bluechip group with financial stocks led the increase. In which, VPB at one point increased to the ceiling before closing the session to +5.4% to 25,300 VND. Followed by the names TPB, SSI and CTG when increasing by more than 3%, with VPB and SSI this session matching the highest orders in the group with more than 19 million units.
Other gainers besides FPT also had an increase of more than 3%, while HPG, MSN, MBB, VIB, STB, VIC, MWG, CTB increased from 2% to nearly 3%.
On the contrary, PLX shares lost more than 3% to 39,650 VND, but the remaining declining codes also only decreased slightly with the appearance of VRE, SSB and VJC.
The group of mid-cap and small-cap stocks was the highlight in this session, with the groups mentioned being real estate, construction, securities companies, insurance, such as HHS, NLG, NVL, CII, NHA, DRH, TCH, HID all closing the session at the ceiling price.
In the current period, experts are concerned that if the conflict escalates, oil prices rise sharply and last for many months, macroeconomic factors may change very quickly.
In fact, central banks have begun to express a more cautious view than at the beginning of the year - the time prioritizing policy easing. If the war lasts, inflationary pressure and interest rates could completely increase, thereby negatively impacting the financial market.
This is the reason why many investors are worried about the "shadow" of the 2022 downtrend returning and strongly selling off, causing the market to fall deeply in a short time.
However, experts believe that a prolonged negative scenario is unlikely to happen, because the possibility of prolonged conflict is not high. If the parties achieve their goals and do not expand tensions, the war could end soon, even in a few weeks or in April.
In that positive scenario, macroeconomic factors may quickly reverse. Oil prices may fall sharply, inflationary pressure cools down, thereby reducing pressure to raise interest rates.
When the macroeconomic environment stabilizes again, the stock market may also recover to normal. The "2022 ghost" may not be repeated and the current decline can be seen as a strong discount, rather than the beginning of a prolonged downtrend cycle.
However, the most important variable at this time is still the diễn biến of the conflict. Only when there are signs of cooling down or a clear end, the market outlook will actually become more positive. Conversely, if the situation lasts, risks will still be high and difficult to predict.
