The impact of oil price changes on Vietnam stock market - Case study from HCM stock exchange (HOSE)
Abstract
This study investigates the impact of oil price changes on Vietnam stock market. We use daily data for the period 2010-2014 and include exchange rate as an additional variable in our model. The study uses regression analysis to investigate the impact of oil price and stock price in Vietnam stock market. Our finding is that stock price, oil price and exchange rate share a long run relationship and oil price has a positive and statistically significant impact on stock prices. It is consistent with our expectation that Vietnam has characteristics of an oil exporting emerging country.
Key words: oil price change, regression analysis, exchange rate, stock price.