Asian stocks in a volatile 2023
2023 is a turbulent year for the global economy. Inflationary pressures and the Fed's interest rate hikes have significantly affected the growth rates of major stock markets around the world.
In Asia, according to statistics from Refinitiv, Japan is leading the way as the Nikkei 225 index recorded a profit margin of nearly 30% last year.
The growth of Japanese stocks is assessed as thanks to the improved business results of enterprises. Investors in this country expect that the central bank of Japan will end the negative interest rate policy that has lasted for decades.
How will fluctuations in Asian stocks in 2023 affect Vietnamese stocks? (Photo TL)
Meanwhile, Hong Kong’s stock market recorded the worst growth index in the region. In 2023, the Hang Seng recorded a 14% decline, marking the fourth consecutive year of decline for this market.
China’s economic recovery has also been slow over the past year. The Shanghai and Shenzhen-listed CSI 300 Index was the third worst performer in Asia, down 11.4%.
However, according to some analysts, the Asian stock market in 2024 will still have positive bright spots despite the difficult situation in 2023. According to Pinebridge Investments, the Asian market still has strong economic growth momentum.
Pinebridge Investments advises investors not to overlook Asia’s two largest economies, China and India. China is focusing on certain businesses as its economy gradually stabilizes, while India is gradually surpassing many sectors.
The firm estimates that Asia's economy will grow 4.6% in 2023 and 4.2% in 2024, while the world economy's growth rate is lower, at 3% in 2023 and 2.9% in 2024, respectively.
What is the Vietnamese stock market expected to be like in 2024?
The fluctuations of the Asian stock market will also have a certain impact on Vietnam. Specifically, according to Hebe Chen, an analyst at IG International, in 2024, inflation may continue to cool down, the economic growth rate will be moderate. This will be an opportunity for industries such as energy and raw materials.
According to Hebe Chen, a new global technology development cycle is taking shape. Meanwhile, Vietnam, Taiwan, and Singapore are all economies that can benefit from their high concentration of manufacturing and research facilities. For example, Vietnam and Singapore are manufacturing technology products for markets outside of China. Therefore, these two markets will not be affected by the recession in this country of billions of people.
In fact, in the Vietnamese stock market, despite the economic difficulties, 2023 still recorded some notable milestones. Specifically, from the beginning of 2023 to now, there have been 602 stocks decreasing in price on the Vietnamese stock market. The number of stocks increasing in price is 998, much higher than the number of stocks decreasing in price.
Of the nearly 1,000 stocks that increased in price, 364 stocks increased in price within a range of less than 15%. There were 558 stocks that increased in price within a range of less than 100% and over 15%. In addition, there were 76 stocks that increased in price over 100% in 2023.
Regarding gold, on December 26, 2023, SJC gold bars set a new peak with a price of up to 80 million VND/tael, the highest ever. Compared to the beginning of the year, gold prices have increased by about 15%. This shows that the Vietnamese stock market is still a potential investment channel for investors.
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