State Securities Commission: Prioritize solutions to stabilize the market

VCN – Facing the very sharp decline in the stock market recently, the State Securities Commission (SSC) said that they have been closely monitoring the economic and political situation of countries around the world to assess the impact and influence on Vietnam's stock market in order to promptly take appropriate solutions to stabilize the domestic stock market, stabilize investors’ psychology and strengthen the confidence of market participants.
Competent authorities prioritize short-term solutions to support a stable market. Source: Internet
Competent authorities prioritize short-term solutions to support a stable market. Source: Internet

Prioritize short-term solutions to support a stable market

Talking to the press, a representative of the State Securities Commission said that the domestic stock market was going through a period of strong adjustment due to the combined impact of domestic psychological factors, especially risks from the international markets such as the Fed raising interest rates sharply, unresolved geopolitical tensions, inflationary pressures, a sharp increase in input prices, especially energy prices.

According to the leader of the State Securities Commission, Vietnam's stock market was still highly expected to recover and grow again in 2022 and the following years. However, in the context that the market might still have strong fluctuations, regulatory agencies are giving special priority to short-term solutions to help stabilize the market and reassure investors.

The State Securities Commission, the stock exchanges, and the Vietnam Securities Depository also met with many market members and securities companies to assess the current situation of the market as well as discuss short-term and medium-term solutions to help the market overcome difficulties. This year, there will be positive changes, which are expected to support the market to increase liquidity as well as information transparency in the market.

The representative of the State Securities Commission affirmed that they were closely monitoring the developments of the economic-political situation, and policy movements of countries around the world, assessing the impact and influence on the Vietnamese stock market in order to promptly take appropriate solutions to stabilize the domestic stock market.

At the same time, actively disseminate information in order to stabilize investors' sentiment, strengthen the confidence of market participants and the public investing at home and abroad in the determination of the Party, State and Government and the Ministry of Finance in stabilizing the macro-economy, developing a transparent, public, safe and effective stock market.

Improve the legal framework for the stock market

In the medium and long term, leaders of the State Securities Commission (SSC) said that the management agency was actively completing the legal framework for the stock market, completing the formulation of a stock market development strategy by 2030 to clearly define goals, solutions and roadmaps for long-term stock market development.

Along with that, SCC would review, evaluate and summarize to recommend the shortcomings in the legal framework on securities and the stock market (including the Law on Securities and the system of guiding documents), especially regulations on the transparency of corporate information, rights and responsibilities of participants, sanctions for law violations on the stock market in order to protect investors, thereby restoring confidence and ensuring the transparency and sustainability of the stock market.

“In the 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, operations of the system of asset valuation companies, credit ratings, accounting and auditing; strictly managing and supervising while facilitating and promoting the role of those organizations to provide transparent, safe and effective services for both issuers and investors,” SSC’s leader said.

Regarding foreign capital flows, besides solutions to attract the participation of foreign investors, the State Securities Commission is also accelerating solutions to shorten the process of upgrading Vietnam's stock market from Marginal to Emerging.

The upgrade will depend greatly on market rating organizations, however, the State Securities Commission is coordinating with relevant agencies to agree on solutions, map out a clearer roadmap, and strive to upgrade the level of the Vietnamese stock market as soon as possible, reaching the target set by the Government.

In addition, SSC will strengthen dissemination and investor training to increase the knowledge base of finance and securities, and support investors to participate in the stock market more safely and professionally.

According to developments on the stock market, from the beginning of April, the market has experienced a strong correction and decrease.

As of May 12, the VN-Index closed at 1,238.84 points, having lost 285.86 points, equivalent to a decrease of 18.7% compared to the peak set on April 4, 2022.

Market liquidity tended to decrease continuously during this period, accordingly, the average trading value in April reached VND26,299 billion/session, down 15.6% compared to the average in the first quarter of 2022. In the early sessions of May, the liquidity only averaged VND18,916 billion/session, down 28% compared to the previous month's average.

By Hoài Anh/Thanh Thuy

Related News

Diversify and innovate securities products to attract foreign investors

Diversify and innovate securities products to attract foreign investors

VCN - Mr. Kojima Kazunobu, Chief Advisor of the Japan International Cooperation Agency (JICA), said that Vietnam needs to make more efforts in developing the stock market in both quality and quantity to become a potential market, attractive to foreign investors.
Important step to soon upgrade stock market

Important step to soon upgrade stock market

VCN - According to experts, the Ministry of Finance's issuance of Circular No. 68/2024/TT-BTC dated September 18, 2024 is an important step in the process towards the goal of improving the quality of the Vietnam’s stock market.
Curbing stock market manipulation

Curbing stock market manipulation

VCN - Amending and supplementing a number of articles of the Law on Securities is necessary to ensure that the securities market operates more transparently and effectively, to ensure the rights of investors, to prevent fraudulent behavior, and to create conditions for the development of the securities market.
Crypto Assets should be managed rather than prohibited

Crypto Assets should be managed rather than prohibited

VCN – The issuance of legal regulations related to crypto asset management contributes to protecting investors, enhancing tax collection capabilities and improving the ability to control money laundering activities, according to experts.

Latest News

Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3.92%.
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

VCN - Discussing in groups about the project "1 law amending 7 laws" in the financial sector according to the program of the 8th Session on October 29, 2024, National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigned by the Prime Minister.

More News

State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

VCN - According to the report sent to the National Assembly before the 8th Session of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Stipulate implementation of centralized bilateral payments of the State Treasury at banks

Stipulate implementation of centralized bilateral payments of the State Treasury at banks

VCN - The Ministry of Finance (MOF) gathers feedback on the draft Circular regulating the management and use of accounts of the State Treasury opened at the State Bank of Vietnam (SBV) and commercial banks.
Rush to finalize draft decree on public asset restructuring

Rush to finalize draft decree on public asset restructuring

VCN - According to the Ministry of Finance, the draft Decree regulating the rearrangement and handling of public assets is being urgently completed by the Ministry of Finance to submit to the Government for promulgation.
Inspection report on gold trading activities being complied: SBV

Inspection report on gold trading activities being complied: SBV

The State Bank of Vietnam (SBV) has announced that inspections on compliance with legal policies in gold trading activities of credit institutions and gold trading businesses have been completed and an inspection report is being compiled.
Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

VCN -The Government estimates that state budget revenue in 2024 will exceed VND 172.3 trillion, up 10.1% over the estimate, of which tax and fee revenue will reach 13.1% of GDP.
Ensure timely and effective management and use of public asset

Ensure timely and effective management and use of public asset

VCN – In order to promptly and effectively implement public asset management and use, ensuring compliance with legal regulations, the Ministry of Finance has just issued an official dispatch requesting ministries, branches and localities to comply with regulations in the Government’s Decree No. 114/2024/ND-CP dated September 15, 2024.
Accelerating decentralization in public asset management

Accelerating decentralization in public asset management

VCN - Amending the Law on Management and Use of Public Assets aims to improve regulations on accelerating decentralization and improving efficiency in management and use of public assets, and promoting financial resources, ensuring that the unified application the Law on Management and Use of Public Assets and other legal documents.
Difficulty in finding banks eligible to receive compulsory transfers

Difficulty in finding banks eligible to receive compulsory transfers

VCN - Reporting to the National Assembly, the State Bank of Vietnam (SBV) said that one of the difficulties in restructuring the credit institution system is the long process of finding and negotiating banks eligible to receive compulsory transfers.
Businesses can choose a suitable electronic invoice model generated from the cash register

Businesses can choose a suitable electronic invoice model generated from the cash register

VCN - The Ministry of Finance said that individual business households can choose a suitable model to apply electronic invoice solutions from cash registers, depending on the number of invoices used in the year, in the month and the current status of software solutions and technical infrastructure.
Read More

Your care

Latest Most read
Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigne
State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

According to the report of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Mobile Version