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Macroeconomic stability will be a good foundation for developing the stock market, Deputy Minister of Finance Nguyen Duc Chi said at the Government’s regular press conference on October 29 in Hanoi.
About the reasons behind the plunge of the stock market in the recent past, Chi said the global stock market also fell sharply due to the impact of high inflation, changes in monetary and fiscal policies in many countries across the world, and this situation also has a direct impact on Vietnam's stock market.
Illustrative image (Photo: VNA)
He added that adjustments to the monetary policy, interest rate hikes and strict management of the credit room have affected the cash flows.
The official said the stock market will operate stably, safely and transparently if businesses and market members strictly implement information disclosure.
Violations will be strictly handled according to the provisions of law, while attention will be paid to strengthening inspection to monitor the market, listed companies, securities companies, fund management bussiness and investors.
In the long term, the Ministry of Finance has planned to review the Law on Securities, while promote the restructuring of the stock market to ensure the capacity of securities and fund management companies, he went on.
Weighing stock market opportunities in H2
As the stock market is yet to get rid of the downward trend with low liquidity, intra-sector price division and increased focus on specific tickers are expected to linger in the forthcoming months.
Stock market on upward trend for three consecutive sessions
The VN-Index rose 11 points in the last session of the week, levelling up the index to 1,062 points (from 1,000 points) after three sessions only.
Weighing ticker charm of securities firms
As Vietnam’s stock market has witnessed a sharp plunge for over a month now, the tickers of many securities firms have lost 30-40 per cent, even 60-80 per cent, compared to their peak.
By VNA
