15:02 10/8/24
Thị Trường Chứng Khoán - Biên dịch chuyên ngành
Prospects đang có triển vọng
Sustainable recovery phục hồi bền vững Arose phát nổ As of kể từ Suffer chịu ảnh hưởng
Financial leverage đòn bẫy kinh tế
widely experienced biết đến một cách rộng rãi
lien được quyền sử dụng tài sản
mortgage lien release hoạt động giải chấp
trading board bảng điện giao dịch
salvage cứu vớt, vớt vác, thu hồi empede cản lại dumping bán tháo manifest bộc lộ
rush kéo tới, flock kéo bầy ùn ùn đến
The State Securities Comission ủy ban chứng khoán nhà nước
High tide cao trào, this reached the climax when
Hordes/crowd đám đông, hàng đoàn Insist nằng nặc Confront đối chất Outrage giận dữ,bức xúc
Depreciate sụt giá, mất giá, trở nên kém giá trị Exorbitant đắt đỏ Implement thực thi
stabilized stock cổ phiếu bình ổn
listed business doanh nghiệp niêm yết about:blank 1/2 15:02 10/8/24
Thị Trường Chứng Khoán - Biên dịch chuyên ngành Vietnam Stock Market and the
2008 financial tsunami: The Final Knock-out
While the market was having prospects/seeing for a more sustainable recovery, the global financial crisis arose.
Overview of Vietnam’s stock market before, in, and after the global financial crisis.
As of Feburary 2008, the stock market started to suffer directly from using extra financial leverage during the 2007 easy credit period The Rising Panic
For the first time, investors widely experienced the technical selling pressure of mortgage lien release
rather than the usual risk aversion.
The “snowball effect” created an unforgetable nightmare for those who went through this period, as
every morning when the trading board was turned on, they saw millions of stocks being offered at the
floor price by securities companies so that their holders could salvage their situation.
No resources could impede this unprecedented dumping.
The panic even worsened when investors showed their disruptive behaviors. It was the first time that the
stock market’s impacts on people’s life manifest themselves so clearly.
The high tide happened when there are a lot investors rushing to The State Securities Comission on 5th
March “to express the anger”. The author of this article was fortunate enough to see hordes of investors
flocking here by car or taxi, insisting on confronting the management authority.
Before that, this crowd also flocked to the Hanoi Securities Trade Central. Despite their outrage at their
asset values depreciating day by day, they talk nothing about the long line of exorbitant cars parked outside.
With the purpose of stopping the market from falling, The Securities Market Management Agency
implemented some urgent measures. On March 27, the price fluctuation range of Ho Chi Minh City Stock
Exchange (HSX) was lowered from +/-1% form +/-5%, and that of Hanoi Stock Exchange (HNX)to +/-2% from +/-10%.
State Capital Investment Corporation (SCIC) was allowed to participate in buying stabilized stock.
Commercial Banks and Securities Companies were urged to pause their mortgage lien release, and listed
businesses to buy treasury stock. about:blank 2/2