Friday, July 1, 2022 11:58:21 AM - Markets open
VN-INDEX 1,177.30 -20.30/-1.70%
HNX-INDEX 270.51 -7.17/-2.58%
UPCOM-INDEX 86.83 -1.75/-1.98%
SSC prioritises stabilising solutions for stock market
Vietnamnews - 5/16/2022 2:00:49 PM
 (0 ratings. You must sign in to rate.)
The State Securities Commission (SSC) is closely monitoring the developments of the economic-political situation, assessing the influence on Việt Nam's stock market in order to promptly take appropriate solutions aimed at stabilising the domestic stock market, said a representative of SSC.
 
Việt Nam's stock market is in a strong correction, down nearly 19 per cent since its peak in early April.
 
In a recent interview with Vietnam News Agency, a representative of the State Securities Commission (SSC) said that the domestic stock market was going through a strong adjustment period, due to the combined impact of domestic psychological factors as well as risks from the international market such as the Fed raising interest rates sharply, unresolved geopolitical tensions, inflationary pressures, sharp increases in input prices and rising energy prices.
 
Although the Vietnamese stock market is still highly expected to recover and grow again in 2022 and in the following years, in the context of recent high volatility, the management agency is giving special priority to short-term solutions to help stabilise the market and reassure investors' sentiment.
 
"The State Securities Commission, the stock exchanges, and the Việt Nam Securities Depository Center have met with many market members and securities companies to assess the current situation as well as discuss solutions in both the short and medium-term for the market to overcome difficulties. This year, there will be changes in a positive direction, which is expected to support the market to increase liquidity, as well as improve transparency," said the representative.
 
As for medium and long-term solutions, the SSC's leaders said that the management agency is actively completing the legal framework for the stock market, perfecting the development of the stock market development strategy by 2030 to clearly define long-term goals, solutions and roadmap for market development.
 
SSC is reviewing, evaluating and summarising to recommend the shortcomings in the legal framework of the Law on Securities and the system of guiding documents on securities trading, especially regulations on transparency of corporate information, rights and responsibilities of participants, sanctions for violations on the market, thereby restoring confidence and trust of investors.
 
"In the near future, we will have more solutions to improve operational efficiency, service quality, financial capacity, and professional ethics of service providers in the market, especially securities companies, independent auditing companies, fund management companies, asset valuation companies, credit rating agencies, accounting and auditing companies," the representative said.
 
For foreign capital flows, in addition to solutions to attract the participation of foreign investors, the State Securities Commission is also accelerating solutions to shorten the process of upgrading Việt Nam's stock market from frontier to emerging status.
 
"Although the upgrade will depend greatly on market rating agencies, the State Securities Commission is coordinating with relevant agencies to agree on solutions, set out a clearer roadmap, and strive for higher standards. We hope that Việt Nam's stock market will be upgraded as soon as possible, achieving the target set by the Government.”
 
Previously, leaders of the Ministry of Finance in many public statements also said that the correction only lasted in the short-term, and that the Vietnamese stock market still had positive supporting factors such as a stable macroeconomy. In the future, Việt Nam's stock market will develop more strongly with better quality, affirming its role as the main medium- and long-term capital mobilisation channel of the economy and businesses.
 
Assessing the Vietnamese stock market from now until the end of 2022, many experts believe that the Vietnamese stock market still has a lot of growth potential when many positive factors continue to be maintained. The COVID-19 pandemic is still better controlled, the macro fundamentals are still firm, economic activities are restored, domestic consumption recovers, and international tourism activities are gradually reopened. These are very important factors for Việt Nam's GDP growth to reach 6.5 – 7 per cent.
 
Along with that, production and business activities of enterprises continued to prosper. In the first quarter of 2022, 86 per cent of listed and large-scale public companies registered for trading have announced profitable reports, higher than 83 per cent of the same period in 2021.
 
The number of newly opened securities accounts has continuously increased in recent years. In April 2022 alone, there were 231,275 newly opened securities accounts, bringing the total number of securities trading accounts to more than 5.2. million and currently accounts for about 5 per cent of the population. VNS
 
Read original article here
 
Newer News
29/06 Shares extend gains, bolstered by bank and energy sectors
25/06 Banking shares plummet to attractive prices
15/06 Pharmaceutical industry less affected in pandemic
11/06 Ministry of Finance to get privately-placed bonds back on track
10/06 VN-Index treads water as large-cap stocks divide
08/06 Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
04/06 Shares drop on bank, securities stocks
04/06 Interest rate support package has little effect on stock market
31/05 Shares make gains on banking, airline stocks
30/05 Market likely to enter recovery wave: experts
Older News
11/05 Real estate companies issue no bonds in April
04/05 Market likely to extend losses this week
27/04 Shares recoup half of Monday's loss on strong bargain hunting
23/04 Shares make gains on the back of bank, real estate stocks
23/04 Việt Nam’s daily stock trading value ranks second in ASEAN
18/04 Market likely to recover this week on bottom-fishing
13/04 Multiple listed companies announce capital raising plans, drawing investors
12/04 Big ETFs post negative growth in Q1
07/04 VN-Index bounces back on growth of bank stocks
04/04 Market expected to inch higher this week
 
Newsletter Signup
Top Stories
Vietnam’s CPI up 2.44% in six months
HPG: Hoa Phat wants to invest big in two infrastructure projects
Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
Steel prices cool down as input costs drop
Why the stock market sell-off when VN’s economy is strong?
Market Update
Last updated at 11:55:00 AM
VN-INDEX 1,177.30 -20.30/-1.70%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.