The Vietnamese stock market continuously decreased in the first trading sessions of October. Along with that, market liquidity reached the lowest level in the past 5 months.

Specifically, in the first trading session of October, the order matching value on the HoSE stock exchange reached nearly VND10,000 billion, down 16% compared to previous sessions. Compared to the average of the last 20 sessions (VND20,000 billion), the order matching value decreased by 52%.

Explaining the cause of this situation, some experts said that this is the reaction of investors after the recovery period of the Vietnamese and world stock markets. In the coming time, the market will even have to face some more side challenges.

With the world economy, the shortage of supply and the sharp increase in commodity prices will also have a strong impact on the Vietnamese economy. These are objective factors beyond the control of banks.

In addition, the Fed's continued hawkish stance on interest rate policy at its September meeting has also pushed the USD price up sharply in many markets. This will also negatively impact the economies of many countries.

In Vietnam, monetary policy is still being adjusted, the State Bank of Vietnam is still maintaining low interest rates, contrary to the Fed's policy to support businesses and people to recover production. Accepting to trade off exchange rates to support businesses and people has shown some positive signs of recovery in the third quarter of 2023.

In addition to maintaining low interest rates, the State Bank of Vietnam has also recently withdrawn a large amount of money from the liquidity system through the issuance of treasury bills. It is estimated that in the last 5 trading sessions of September, 70,000 billion VND was withdrawn through treasury bills, helping to reduce the pressure on the USD/VND exchange rate.

Some experts believe that investors should still be cautious in the current context and observe the market. The stock market trend has not yet shown clear signs and may be more evident in the coming period of late 2023 and early 2024.