The State Securities Commission (SSC) has said the restructuring andsupervision of the stock market would be improved next year to ensurethe market's transparency and efficiency in operating.
Minister of Finance Dinh Tien Dung said at SSC's meeting last weekthat the commission would focus on solutions to expand the scale ofoperations and improve the market's quality, according to Vneconomynewspaper.
SSC's statistics showed that the stockmarket maintained growth so far this year, reflected through increasesin the benchmark indices.
The VN-Index on the Ho ChiMinh City Exchange rose 22 percent, in comparison with the end of lastyear, while the HNX-Index in the Hanoi Stock Exchange was 13 percenthigher. The increases in benchmark indices placed Vietnam among the 10countries with the strongest stock market recoveries in the world.
Also, the market capitalisation reached 964 trillion VND (45.9 billionUSD), an increase of 199 trillion VND (9.47 billion USD), equivalent to31 percent of the country's gross domestic product (GDP).
Meanwhile, the average trading value reached 2.578 trillion VND(123.190 million USD) each session, representing an increase of 31percent over last year, mainly thanks to the transactions of Governmentbonds, which witnessed a rise of 90 percent to 1.257 trillion VND (59.85million USD) per session.
The stock market also attracted many foreign investors, with registered accounts rising about 55 percent.
Dung said enacting the restructuring of the stock market, which wasapproved by the Prime Minister, must be quickened, focusing on enhancingits quality, financial capacity and management capacity.
In addition, the management and supervision of the market must beimproved, as the stock market becomes more developed and sophisticated,to ensure transparency and a market that remains healthy.
Pham Hong Son from SSC also said that the commission would determinehow to eliminate weak securities companies through acquisitions, mergersor dissolutions.
More than 60 percent of securities companies reported losses this year, which is slightly less than last year.-VNA
Minister of Finance Dinh Tien Dung said at SSC's meeting last weekthat the commission would focus on solutions to expand the scale ofoperations and improve the market's quality, according to Vneconomynewspaper.
SSC's statistics showed that the stockmarket maintained growth so far this year, reflected through increasesin the benchmark indices.
The VN-Index on the Ho ChiMinh City Exchange rose 22 percent, in comparison with the end of lastyear, while the HNX-Index in the Hanoi Stock Exchange was 13 percenthigher. The increases in benchmark indices placed Vietnam among the 10countries with the strongest stock market recoveries in the world.
Also, the market capitalisation reached 964 trillion VND (45.9 billionUSD), an increase of 199 trillion VND (9.47 billion USD), equivalent to31 percent of the country's gross domestic product (GDP).
Meanwhile, the average trading value reached 2.578 trillion VND(123.190 million USD) each session, representing an increase of 31percent over last year, mainly thanks to the transactions of Governmentbonds, which witnessed a rise of 90 percent to 1.257 trillion VND (59.85million USD) per session.
The stock market also attracted many foreign investors, with registered accounts rising about 55 percent.
Dung said enacting the restructuring of the stock market, which wasapproved by the Prime Minister, must be quickened, focusing on enhancingits quality, financial capacity and management capacity.
In addition, the management and supervision of the market must beimproved, as the stock market becomes more developed and sophisticated,to ensure transparency and a market that remains healthy.
Pham Hong Son from SSC also said that the commission would determinehow to eliminate weak securities companies through acquisitions, mergersor dissolutions.
More than 60 percent of securities companies reported losses this year, which is slightly less than last year.-VNA
