return icon

SSC orders to reenact measures to direct the stock market as community COVID-19 cases surge

After a surge in new community COVID-19 cases which were reported last week, the State Securities Commission of Vietnam (SSC) ordered industrial units to reenact measures to stabilise market activities.

The market benchmark VN-Index ended Monday at 1,035.51 points, down 2 per cent. — VNS/VNA Photo

In a press conference, Ta Thanh Binh, Director of Securities Market Development Department under the SSC, said that the commission directed stock exchanges, Vietnam Securities Depository (VSD) and market participants to carry out solutions implemented last March and April to stabilise the market and respond to the pandemic.

SSC also strengthens strict inspections on market activities and controls unusual activities, supervises inside information and rumours, guarantees the market order and transparency. At the same time, SSC continues to watch political, economic, domestic market and global stock markets conditions to inform investors on time.

The State agency recommends investors to carefully assess every factor to make suitable investment decisions, closely watch listed companies’ activities to choose and invest in valuable shares with growth potential in the long-term, and avoid overreaction.

Last week, Vietnam’s stock market witnessed five consecutive declining sessions. On Thursday, when news of community infections of COVID-19 was reported in Quang Ninh and Hai Duong provinces, the VN-Index declined 6.67 per cent, equivalent to 73.23 points, to 1,023.94 points. That amount was the biggest single-day loss of the index in 20 years since the stock market was established.

However, the market recovered with the benchmark finishing last Friday's session at 1,065.61 points, up 32.67 per cent as the Government has carried out strict measures to control the spread of COVID-19. The VN-Index ended Monday at 1,035.51 points, down 2 per cent. 

There were many factors contributing to the recent falls, including investors booking profit after a strong rally, a plunge of global stock markets and panicked sentiment in the short-term regarding the pandemic, Binh said.

“Based on our observations, we saw that most share sales came from new investors, while investment organisations and foreign investors bought in shares during last Thursday's session. Especially, foreign investors were also net buyers in the last trading day of last week. On the Ho Chi Minh Stock Exchange, foreign investors bought a net value of VND 1.1 trillion,” Binh added.

Although the number of COVID-19 community cases might continue to accelerate until the pandemic is totally under control, SSC sees that the market still receives supports from positive elements including macroeconomic factors and listed companies’ internal factors.

Vietnam has been doing well in both controlling the pandemic and developing its economy, while many countries in the world struggled with crises and recession.

According to an incomplete statistics, as of January 20, 80.7 per cent of listed companies posted positive growth in fourth quarter results, with profit after tax of listed companies and large public companies increasing 11.1 per cent year-on-year in the same period.

Many companies took advantage of chances from trade deals, such as the European-Vietnam Free Trade Agreement (EVFTA), to thrive.

SSC also believes that with success in containing the coronavirus last year, the Government can continue to control the spread of the disease and the market might soon return to normal.

As of Monday morning, Hanoi had reported 15 COVID-19 community cases since the outbreak returned last Thursday. The city also ordered all karaoke venues, bars and discos to suspend operations from 0:00 on February 1 in a bid to contain the spread of COVID-19. VNS 

New stock trading system from RoK to be tested after Tet

New stock trading system from RoK to be tested after Tet

A trial run of a stock trading system from the Republic of Korea with securities companies will be conducted after the Tet (Lunar New Year) holiday, said Tran Van Dung, Chairman of the State Securities Commission of Vietnam (SSC).

Stock market hits records in COVID-19 year on rising optimism

Stock market hits records in COVID-19 year on rising optimism

Vietnam’s stock market has posted record highs as the Government’s stimulus measures and good control of the coronavirus outbreak are turbo-charging the country’s economic recovery from the pandemic, according to insiders.



Vietsovpetro launches two support sets of Dragon oilfield

New milestone in Vietnam’s relations with Hungary, UK

The five-day visits of Vietnam’s National Assembly Chairman Vuong Dinh Hue to Hungary and the UK marked a new milestone in bilateral relations, eventually contributing to the Vietnam-EU partnership.

Vietnam remains among major global production facilities

The nation continues to be "named" in the list of major global production facilities, with six-month export turnover reaching US$185.94 billion, marking a year-on-year rise of 17.3% and a trade surplus of more than US$ 700 million.

Steering committee established to boost economic recovery effort

The Government has established a steering committee for the deployment of the country’s economic recovery and development program, led by Deputy Prime Minister Le Minh Khai.

Entertainment and cultural events of the week (July 4-10)

Upcoming entertainment and cultural events in Vietnam's major cities on July 4-10/2022.

Kim Duyen wins Supra Model Asia at Miss Supranational 2022

Kim Duyen - Vietnamese representative at Miss Supranational 2022 - qualified in the top 11 Supra Chat and was awarded the title of Supra Model Asia of Miss Supranational 2022.

VN Trade Promotion Department lauds ASEAN export opportunites

Vietnamese businesses have many opportunities to increase export goods to Thailand, Laos and Cambodia, according to the Trade Promotion Department of the Ministry of Industry and Trade.

New policy boosts insurance market's long-term development

The newly-issued Law on Insurance Business is expected to positively impact the insurance market's long-term development.

Rules on business in prize electronic games for foreigners

The Ministry of Finance has issued a circular guiding the implementation of some articles of the Government’s Decree No. 121/2021/ND-CP on business in prize electronic games for foreigners in Vietnam.

Vietnam wins 13 awards at “Two country circuit” photo contest

Vietnamese photographers have won 13 medals and certificates of honour in travel, portrait and free categories at the 7th “Two Country Circuit” photo contest 2022.

True Italian Taste 2022 promotes Italian cuisine in VN

True Italian Taste 2022, a project aiming to promote authentic Italian cuisine to the world, has kicked off in Vietnam.

Who will work when so many public-sector staff have been disciplined?

“No need to worry that the country won’t have cadres to work," said Party Secretary General Nguyen Phu Trong.

Labour export to South Korea temporarily halted for eight localities

The Ministry of Labour, Invalids and Social Affairs (MoLISA) has announced that the labour migration programme with South Korea will be temporarily suspended for eight districts, towns and cities.

VN central bank resumes bill issue channel to net withdraw money

The State Bank of Vietnam (SBV) has used the bill issue channel again to net withdraw money out of the banking system for the first time since June 2020.

Extended excise tax deadline does not affect car prices: experts

Decree No.32/2022/NĐ-CP issued recently by the Government, which extends the tax payment deadline for payable excise tax, will not directly affect domestic car prices, according to industry insiders.