At the same time, SSC will collaborate with the two stock exchanges to increase supervision, inspection and punishment for violations, especially for market manipulation in order to make the Vietnamese stock market become more transparent.
According to Mr. Son, the country’s stock market still maintained good growth in the first half of this year compared to the end of last year. The stock market has mobilized VND147.2 trillion, up 26 percent over the same period last year. The VN-Index has gained by more than 6 percent whereas the HNX-Index has lost 0.6 percent. Market capitalization was at around VND4.31 quadrillion, up 8.8 percent compared to the end of last year, equal to 77.9 percent of gross domestic product in 2018. However, transaction saw a slump with average trading value at about VND4.4 trillion per trading session, a decrease of 31.7 percent compared to last year.
According to Mr. Son, although there were corrections in the first half of this year, the stock market in the last half would still develop positively and steadily as impacts from global stock market and domestic macro-economy remain good. In addition, the Government is steadfast in monetary policy and flexible in macro policy.
Besides releasing many new investment products, the SSC will focus on revised Securities Law, speed up equitization and divestment of state-owned enterprises.
The SSC said that the revised Securities Law is going to be passed in October. Along with it, decrees and instruction documents will also be completed this year which is expected to create a turning point for Vietnamese stock market thanks to its internationality and sustainability.