THE IMPACTS OF OIL PRICE AND GOLD PRICE ON VIETNAM’S STOCK MARKET BEFORE AND DURING COVID-19 PANDEMIC

Authors

  • Ho Hoang Gia Bao Department of Finance and Accounting Management, Ho Chi Minh City University of Law, Vietnam.
  • Hoang Phong Le Department of Finance and Accounting Management, Ho Chi Minh City University of Law, Vietnam.
  • Thanh Huu Phu Nguyen Department of Finance and Accounting Management, Ho Chi Minh City University of Law, Vietnam.

Keywords:

COVID-19, GARCH, gold price, HNX-Index, oil price, VN-Index

Abstract

This paper evaluates the impacts of oil and gold prices on the two major indices of Vietnam (VN-Index and HNX-Index) using the daily data from January 2010 to November 2020 and the GARCH(1,1) model. We find that oil price positively affects VN-Index and HNX-Index before and during the COVID-19 pandemic. However, there is no significant effect of gold price, which implies its role as a weak safe haven asset and a weak hedge asset. While the COVID-19 pandemic does not influence on VN-Index, it has a small positive impact on HNX-Index. In addition, the COVID-19 pandemic raises the impact of oil price on the two indices.

Published

2024-07-28

How to Cite

Ho Hoang Gia Bao, Hoang Phong Le, & Thanh Huu Phu Nguyen. (2024). THE IMPACTS OF OIL PRICE AND GOLD PRICE ON VIETNAM’S STOCK MARKET BEFORE AND DURING COVID-19 PANDEMIC. Scientific Results, (7). Retrieved from https://ojs.publisher.agency/index.php/SR/article/view/4025

Issue

No. 7 (2024): Scientific Results

Section

Economic Sciences

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.