Việt Nam's stock market is poised for growth in 2024, supported by lower interest rates and improved business performance.

The market inched higher on Wednesday, with the VN-Index returning to the 1,100-point level.

The market settled higher on Tuesday, buoyed by gains in some large-cap stocks while foreign investors continued to be net sellers on the southern market.

The number of share auctions in the Vietnamese stock market has reached its lowest level in the past 16 years, according to recent statistics from the Hà Nội and HCM Stock Exchanges (HNX and HoSE).

Indices set another daily loss on Monday, with the VN-Index falling below the 1,100 point-level, while foreign investors continued to net sell hundreds of billions of đồng on the market.

The market is likely to continue its decline in the short term this week, with the support zone of 1,100 points providing temporary relief before reassessing supply and demand dynamics, based on the current market conditions and recent signals.

The Ministry of Finance (MoF) and other agencies are required to carry out necessary tasks to swiftly upgrade the Vietnamese stock market from a frontier to an emerging market, according to an official dispatch issued by the Prime Minister.

The stock market experienced its third consecutive session of decline on Friday, primarily attributed to the slump in large-cap stocks.

Shares extended losses on Thursday with most industries closing in the red, while foreign investors withdrew capital from the market.