For several consecutive days there has been a steady decline in the stock market with hundreds of stocks plummeting, reminiscent of the 2008 crisis.

Concerns about the ability of Vietnamese companies to access credit have been severely weighing on the VN-Index, but the issue is mostly restricted to the property sector, Michael Kokalari, chief economist at investment fund VinaCapital, has said in a note.

The Vietnamese stock market struggled last week as the benchmark VN-Index fluctuated in a large range. Experts said that there are more positive signals supporting the index to recover to the 1,000 point-level.

Benchmark indices rose more than 3.5 per cent on Monday, as domestic investors' risk appetite improved strongly while foreign investors continued to pour capital into the country's stock market.

The Vietnamese stock market struggled last week as the benchmark VN-Index fluctuated in a large range. Experts said that there are more positive signals supporting the index to recover to the 1,000 point-level.

The market finished the week higher on the strong recovery of blue-chip stocks, with the VN-Index adding nearly 24 per cent to break the psychological level of 970 points.

The VN Index has been under intense fluctuation of late, although financial experts believe that the Vietnamese stock market is very unlikely to crash in a similar situation to that in 2008, which subsequently led to an economic depression.

The market ended higher on Thursday, as recent losses triggered bottom-fishing demand, lifting the general sentiment.

Viet Nam's stock market has seen strong volatility in recent years, stemming from investors' cautious sentiment in the face of uncertainties and a less positive outlook for the world economy and politics.

The market finished lower on Wednesday, dragged by lingering selling force and lower liquidity.