The Vietnamese stock market will continue to be supported by a number of positive internal and external factors of the economy as well as the market itself in 2021, Ta Thanh Binh, Director of Securities Market Development Department under the State Securities Commission, told the press on January 19.
The first trading session of Vietnam’s stock market in 2021 opened on January 4, with a gong-beating ceremony held by the State Securities Commission and the Hanoi Stock Exchange (HNX).
The Vietnamese stock market has flourished amid global uncertainties due to the COVID-19 pandemic, said Tran Van Dung, Chairman of the State Securities Commission (SSC).
Strong individual purchasing power has been the key to the strong rebound of the Vietnamese stock market this year after it was hit twice by the COVID-19 outbreaks.
Many Chinese funds are pouring capital into the Vietnamese stock market because of low valuations and further loosening of foreign ownership in the near future.
After 20 years of establishment and development, the Vietnamese stock market has overcome many ups and downs to get the current scale, which is a considerable achievement.
With average price-to-earnings (P/E) and price-to-book (P/B) ratios at a five-year low, bank stocks are among the good options available for investors right now, analysts said.
The Ministry of Finance has agreed in principle to reduce prices of some securities services to support the Vietnamese stock market, which has been in downfall since the COVID-19 outbreak.
To stabilise investor sentiment after the Lunar New Year holiday, the Ministry of Finance has directed the State Securities Commission to closely monitor the market and crack down on the use of negative information about the coronavirus epidemic to manipulate stock prices.
Foreign investors have poured around 36.4 billion USD into the Vietnamese stock market by the end of 2019, a rise of 11.6 percent from a year earlier, according to the State Securities Commission (SSC).
As many as 706 enterprises, 85 percent of 832 listed companies on the Vietnamese stock market, generated profits during the third quarter of this year.
Investors may want to brace for a bumpy trading week as the Vietnamese stock market is still vulnerable to the unpredictability of global shocks in geographic, political and economic conditions.
The Vietnamese stock market suffered during the week from July 29 to August 2 after having rallied for four consecutive weeks amid negative news from the international markets.
Vietnam’s stock market has been evaluated as a bright spot in the region in terms of growth speed and foreign capital absorption for years, according to Chairman of the State Securities Commission (SSC) Tran Van Dung.
The Ho Chi Minh Stock Exchange (HOSE) held the first trading session of covered warrants (CWs) on June 28, marking the debut of this type of securities product on the Vietnamese stock market.
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