interest rate because of the loose monetary policy or hurdles in other investment channels like real estate, gold, and foreign exchange As for foreign investors, as the pandemic spread vigorously, int.
interest rate because of the loose monetary policy or hurdles in other investment channels like real estate, gold, and foreign exchange As for foreign investors, as the pandemic spread vigorously, international investors allocated their money to low-risk assets like bonds or funds Figure 2.1: VN-Index from 2018 to 2022 (Source: Trading View) Speaking of 2021, it was an unforgettable year for the Vietnamese stock market VN-Index reached a 21-year high of 1,500.81 points on November 25, 2021, before ending at 1,498.28 points at the end of the year, increasing by 35.73% The market liquidity continued the trend of 2020 as the average trading value achieved more than VND 45,371 billion Thanks to the momentum created back in 2020, the number of new investors continued to soar to the figure of 1,534,363 new accounts, realizing an increase of 56% compared to 2020 However, Vietnamese stock market flourishing in the past two years were not something too out of style as it was the trend happened worldwide as the result of loosen monetary policies practiced by governments As Federal Reserve System (FED) cut its interest rate to zero on March 2020 and launched quantitative easing programs to increase money supply in the market, this was an opportunity for securities investors to start gaining massive profits in this market, creating platforms for other financial securities markets to boom, and the Vietnamese market was no exception In other words, the stock market in 2020, and especially in 2021, was an overheated market, implying an upcoming adjustment to go back to its intrinsic value Nevertheless, it cannot be denied that the year of 2020 and 2021 had brought tremendous opportunities for securities companies to make profit and seek for potential clients, and VNDIRECT Securities