Monday, December 23, 2024 7:34:32 PM - Markets closed
VN-INDEX 1,262.76 +5.26/+0.42%
HNX-INDEX 228.51 +1.44/+0.63%
UPCOM-INDEX 93.72 +0.33/+0.35%
Prime Minister orders swift upgrade to stock market
Vietnam News - 12/18/2023 11:04:39 AM
 (0 ratings. You must sign in to rate.)
 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. 
 
In the document, the PM said that the international financial market is expected to experience complicated and unpredictable turbulence in the near future, affecting the domestic capital, currency, and stock markets.
 
Therefore, the PM has directed the MoF to take the lead and work with other ministries and sectors to swiftly and effectively implement the tasks and solutions outlined in Resolution No. 86/NQ-CP to help the Vietnamese stock market develop in a safe, transparent, efficient, and sustainable manner.
 
The management of monetary, fiscal, and other macroeconomic policies should be closely coordinated. As a result, this will create favourable conditions to support the development of a safe, transparent, efficient, and sustainable stock market, which serves as an effective channel for medium- and long-term capital allocation in the economy.
 
In order to promptly execute suitable measures to manage and monitor the stock market in accordance with the situation, the MoF must also actively monitor and closely supervise developments in the domestic and international stock markets as well as capital flows into and out of the market. 
 
The ministry has to take immediate action to raise the standard of products offered in the stock market and boost the effectiveness of securities firms, fund management firms, and market players.
 
Specifically, it must lead and collaborate with SBV, the Ministry of Planning and Investment, and relevant agencies to swiftly enhance the Vietnamese stock market from frontier to emerging status, aiming at attracting foreign and institutional investments.
 
Authorities also have to step up inspections, exams, and oversight to crack down on stock market violations, follow the laws and rules, while staying alert, issue warnings on time, and have backup plans to handle potential risks, ensuring a secure, reliable, and transparent stock market.
 
The PM has directly ordered the MoF to work closely with the State Securities Commission (SSC) and the Vietnam Securities Depository and Clearing Corporation (VSDC) to thoroughly review and purify investor data, helping boost market safety and transparency.
 
Additionally, the SBV will collaborate with the MoF and the SSC to manage monetary and fiscal policies, ensuring the development of the stock market and the synchronicity between the money market, capital market and stock market.
 
Media agencies are required to provide truthful and timely information. Strict measures will be taken against those who violate regulations and negatively impact investor sentiment and market stability. — VNS
 
Read original article here
Newer News
16/12 Open-end funds outperform amid stock market challenges in 2024
12/12 Market declines for the third consecutive session
12/12 Market continues slight correction as VN-Index slips below 1,270 points
10/12 Stock market starts the second week of December on a positive note
10/12 Corporate bond market sees steep issuance decline amid persistently high default rates
09/12 Finance ministry to use AI in stock market surveillance
09/12 Realty stocks see signs of recovery
05/12 Pharma stocks on the rise
02/12 Public investment stocks face challenges
02/12 Positive short-term signals emerge in Vietnam’s stock market
Older News
18/12 Aviation stocks get a boost as VN - China cooperation strengthens
14/12 Vietnamese stocks suffer decline as banking and securities shares slide
14/12 Market expands in 2023 despite strong turbulence
13/12 Market expands in 2023 despite strong turbulence
12/12 Public investment stocks are even more attractive
11/12 Market expected to move positively on domestic cash flows
09/12 Shares mixed amid investors' reluctance
08/12 Market falls, foreign investors continue withdrawing capital
07/12 Market finishes higher on return of domestic investors
06/12 Market little changed as liquidity slows down
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,262.76 +5.26/+0.42%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
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.