Dragon Capital, the manager of the two largest ETFs, has experienced strong capital outflows since the beginning of 2024, totalling over VNĐ2 trillion.

The stock market of Vietnam is now a magnet that attracts big cash inflow amid low deposit interest rates and high expectations that the market will be upgraded from frontier to emerging.

Under conditions where various factors converge - low interest rates, stable macroeconomic conditions, and flourishing profitability of listed companies - the stock market is expected to sustain its appeal to large capital inflows in the coming time.

The HCM City Stock Exchange (HOSE) experienced an eventful period under the "reign" of former director Le Hai Tra with the case of FLC Group and its owner Trinh Van Quyet manipulating the stock market, and HOSE’s leaders abusing power.

Discussing tasks in 2024, officials and analysts emphasized the need to take measures to upgrade the stock market from frontier to emerging.

The system has faced persistent delays and setbacks, extending the rollout schedule to nearly 10 years.

The system helps streamline administrative procedures and reduce business costs, improve efficiency and ensure timely information dissemination.

The local stock market's upgrade from the frontier to emerging status by 2025 remains critical to the country’s transformation into a high-middle-income country by 2035 and a high-income country by 2045.

Prime Minister Pham Minh Chinh chaired a conference to perform the task of developing the stock market in the year ahead, with the event jointly organized by the Ministry of Finance and the Government Office on February 28 in Hanoi.

Tens of billions of VND of capital are in investors’ accounts. Reports show that the total deposit balance at securities companies had reached VND83 trillion as of the end of 2023, or $3.3 billion.

The stock market in Việt Nam has begun an upward trend since mid-December 2023 and has experienced almost no interruptions so far, gaining over 130 points, approximately 12 per cent.

The Vietnam Stock Exchange (VNX) reported revenue of over 1.92 trillion VND (78.26 million USD) in 2023, down nearly 44% compared to the previous year.

The Ho Chi Minh Stock Exchange (HoSE) began its first trading session following the Tet (Lunar New Year) festival with a gong-beating ceremony on February 19, the 10th day of the lunar year.

Cash in investors’ accounts is expected to be disbursed once the stock market heats up, analysts say.

Prime Minister Pham Minh Chinh has instructed the Ministry of Finance, State Bank of Vietnam and the Ministry of Planning and Investment to address obstacles in relevant sectors for upgrading the stock market from frontier to emerging status.

Though their outstanding loans have reached a 2-year high, securities companies have reported profit falls, while market liquidity is declining.

Securities companies have optimistic forecasts about the Vietnamese stock market in 2024 and believe that the VN-Index will return close to its historical peak.

Prime Minister Pham Minh Chinh on February 11 signed Directive No 04/CT-TTg which focuses on strengthening the implementation of the initiative to develop data applications related to population, identification, and electronic authentication

On HoSE, foreign investors net bought a value of VNĐ186 billion in January 2024, equivalent to 64.7 million shares.

Tet holiday is about to begin, but securities investors are busy collecting shares which now have reasonable prices.