(PLO)- In a volatile economic context, Vietnam’s stock market still recorded growth in index, liquidity, and capitalization scale.
On the afternoon of December 11, the State Securities Commission (SSC) organized a summary of work in 2023 and implementation of work in 2024.
The stock index had a strong breakthrough
According to the report of the State Securities Commission, Vietnam’s stock market in 2023 will experience many fluctuations.
In the first half of 2023, Vietnam’s stock market traded quietly, with liquidity dropping sharply compared to last year. The main reason comes from the decline in growth of major economies, persistent inflation, prolonged monetary tightening policies of major economies and increasingly complicated geopolitical tensions.
In the third quarter of 2023, Vietnam’s stock index had a strong breakthrough. On September 12, the VN-Index reached its highest level since the beginning of the year, closing at 1,245.44 points. However, at the end of September, the market was under downward adjustment pressure but has gradually stabilized recently.
As of November 30, the VN-Index reached 1,094.13 points, an increase of 8.6% compared to the end of 2022. The HNX-Index closed at 226.15 points, an increase of 10.2 compared to the end of 2022. 2022.
Similar to the index’s movements, market liquidity entering the third quarter has improved significantly with the average transaction value reaching 24,641 billion VND/session, an increase of 80% compared to the average transaction level in the first 6 months. year.
By October, liquidity decreased again along with the pressure of adjustment in the stock market. Overall from the beginning of the year until now, the average transaction value reached 17,492 billion VND/session, down 13.3% over the same period last year.
Along with that, the capitalization and listing scale of the stock market continues to increase compared to the end of 2022. As of November 30, market capitalization reached 5,754 trillion VND, an increase of 10.1 billion VND. % compared to the end of 2022, equivalent to 60.5% of GDP.
Overall, in the first 11 months of 2023, there is an increase of 355,672 securities accounts compared to the end of 2022, bringing the total number of securities accounts to more than 7.25 million accounts, equivalent to 7.3% of the population, exceeding 5%. population according to project goals.
Invest in technology to operate the market smoothly
Speaking at the Conference, Deputy Minister of Finance Nguyen Duc Chi highly appreciated the results that the State Securities Commission has strived to achieve in 2023.
According to the Deputy Minister, the Securities industry has made the right progress towards a transparent market, healthy and fair development. Many violations in the securities sector have been subject to maximum administrative sanctions, and criminal violations have been transferred to investigation agencies.
The Deputy Minister affirmed that the bright spot in the past year was the resolute restoration of market order, with no exceptions, no prohibited areas, bringing market subjects into the legal framework, and complying with market rules.
Directing the direction for 2024, the Deputy Minister requested the State Securities Commission to coordinate with units, stock exchanges, Vietnam Securities Depository and Clearing Corporation, and market members to soon complete the implementation plan. Launching an information technology project to manage and operate the KRX trading system (an information technology system with the role of managing and operating transactions on the Vietnamese market).
Along with that, the Deputy Minister emphasized the task of perfecting the legal framework; pay special attention to market monitoring and go one step further than 2023 to keep the market developing transparently and fairly, and strictly handle violators; continue to improve the quality of goods on the market; Prepare to soon implement conditions to upgrade the market; Invest in information technology to operate the market smoothly.
MINH TRUC
