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.

To achieve the goal of upgrading the stock market as early as 2025, the Ministry of Finance in 2024 must undertake various tasks in coordination with other ministries and sectors for implementation.

The market performance last week indicated strong differentiation with short-term capital flows showing positive rotation within each group and stock.

The scenario in which the US Federal Reserve lowers interest rates will also stimulate cash flow from the currency market back into international capital markets.

If the stock market is upgraded to emerging status, the potential influx of foreign capital could range between $5 and $8 billion.

Ups and downs in the stock market were seen in 2023, but recovery was still the general trend. Better opportunities are expected to come this year.

Listed companies’ earnings growth is expected to recover from zero last year to 10-15% this year, but with a wide variation between sectors, according to Michael Kokalari, a chartered financial analyst and chief economist at VinaCapital.

Many noteworthy events occurred in the local stock market throughout the year.

The Ho Chi Minh Stock Exchange (HoSE) on January 4 announced that as of December 29, 2023, there had been 42 enterprises with capitalisation of over US$1 billion listed on the HoSE.

Deputy Prime Minister Le Minh Khai has signed a Decision approving the stock market development strategy until 2030.

The market capitalisation of Vietnam’s stock market approximated 6 quadrillion VND (246.7 billion USD) in 2023, rising 9.5% from and equivalent to about 62% of gross domestic product (GDP) in 2022, statistics show.

Vietcap Securities Joint Stock Company (Vietcap) predicted a potential weakening in the upward momentum of the VN30 basket, which could result in downward adjustments for large capitalisation groups leading the VN-Index.

Vietnam’s stock market is set to grow in a stable, safe, healthy, effective and sustainable fashion under a freshly-approved strategy.

The market inched higher on Wednesday, with the VN-Index returning to the 1,100-point level.

The number of share auctions in the Vietnamese stock market has reached its lowest level in the past 16 years, according to recent statistics from the Hanoi and HCM Stock Exchanges (HNX and HoSE).

World Bank (WB) experts have suggested several things that Vietnam should do to attract foreign investment in the stock market at the recent Inter-Agency Seminar on Unlocking the Potential of Vietnam’s Capital Markets.