Vietnamese billionaires have an additional 2 billion USD in a record stock session

VN-Index, the index representing Ho Chi Minh City stock exchange, closed today with an increase of 79 points, marking the best session in Vietnam stock history based on absolute score. Thanks to that, the assets of billionaires also increased significantly.

Real-time billionaire rankings of Forbes said Mr. Pham Nhat Vuong, Chairman of Vingroup, was the person making the most money in Vietnam on April 8. This businessman’s assets increased by $1.3 billion today, to $25.7 billion. He is still the richest person in Southeast Asia and ranked 94th in the world, up 6 places in one day.

Ranked behind in the amount of money earned in today’s session are members of his family, including Ms. Pham Thu Huong and Ms. Pham Thuy Hang. The increase in assets of these two female billionaires is 194.7 million USD and 135.2 million USD, respectively.

Assets also increased by more than 100 million USD today including Vietjet Chairman Nguyen Thi Phuong Thao, Hoa Phat Chairman Tran Dinh Long and Techcombank Chairman Ho Hung Anh. The remaining two Vietnamese billionaires, VPBank Chairman Ngo Chi Dung and Masan Group Chairman Nguyen Quang Dang, also increased by tens of millions of dollars.

Forbes Statistics on an individual’s assets based on the number and price of shares held by that person at a certain time. In addition, they also evaluate many other assets of billionaires when ranking, including ownership in private companies, real estate, works of art, yachts…

The fact that Vietnamese stocks were officially upgraded by FTSE Russell is the main reason why the market prospered today. In addition, the cooling of geopolitical tensions in the Middle East also positively impacted the score.

In the short term, SSI Securities Company believes that the market in the first half of April will have positive developments. This is supported by a number of factors such as positive first-quarter profits of businesses, upgrade results and investors’ expectations of the new term Government.

However, this analyst believes that the excitement is likely to weaken when entering the second half of the month. Historically, April is often a cautious period for the market, when the average share price increase rate is only about 47.7%, only higher than October.

This seasonal “sagging” phenomenon often comes from the market having a certain absorption of business plans after the shareholders’ meeting season. At the same time, investors often tend to take profits during the announcement of first quarter business results.

In addition, SSI Securities forecasts that profit growth may slow down in the second quarter due to the impact of rising fuel prices and high interest rates. These factors, combined with a long holiday at the end of the month, reduce investor participation and shrink liquidity, thereby causing more short-term fluctuations in the market.