PM Pham Minh Chinh chairs conference on stock market development

(VOVWORLD) - Prime Minister Pham Minh Chinh chaired a conference on Wednesday to set out tasks to develop the stock market in 2024. 
PM Pham Minh Chinh chairs conference on stock market development - ảnh 1PM Pham Minh Chinh chairs conference on stock market development (Photo: VOV)

At the conference jointly organized by the Ministry of Finance and the Government Office in Hanoi, leaders of ministries, diplomatic agencies, international organizations, and stock market members evaluated stock market activities in 2023 and outlined orientations and tasks ahead in 2024.

Chairwoman of the State Securities Commission Vu Thi Chan Phuong said amid the complex developments in the international financial and stock markets, the Vietnamese stock market saw a rapid recovery thanks to support from a stable macroeconomy, and proactive, flexible, and drastic management of the Government as well as the close co-ordination of relevant ministries, sectors, and units.
The market structure is being increasingly perfected, with many important results recorded in achieving set goals and continuing to be a bright spot to attract domestic and foreign investors, as well as being an effective capital channel for the national economy.

The Vietnamese stock market in 2023 continued to experience many fluctuations, including alternating increases and decreases. As of December 29, 2023, the VN-Index reached 1,129.93 points, an increase of 12.2% compared to the end of 2022 and the HNX-Index closed at 231.04 points, an increase of 12.5% on year.  This represented a good growth rate compared to many countries in the Asian region.

For the whole year of 2023, the average transaction value hit VND17,579 billion/session, down 12.9% compared to the average in 2022. The capitalization and listing scale of the stock market continued to increase compared to the end of 2022.

By the end of 2023, stock market capitalization stood at VND5,937 trillion, an increase of 13.6% on year, equivalent to 58.1% of the estimated GDP in 2023.

The market's listed and registered trading scale reached VND2,128 trillion, a rise of 7.3% compared to the end of 2022 with 739 shares.