Outstanding events of stock market in 2023
Your browser does not support the audio element. Many noteworthy events occurred in the local stock market throughout the year, as reported by Việt Nam News. The headquarters of the Hà Nội Stock Exchange in Hà Nội. — VNS Photo Ly Ly Cao
Ly Ly Cao
HÀ NỘI — The Vietnamese stock market closed the turbulent year of 二0 二 三, with total market capitalisation by the end of this year reaching more than US$ 二 四0 billion.
The benchmark VN-Index surged in the first month of the year, closing above the 一, 一00-point level but retreated to nearly 一,000 points just a month later. The market remained quiet until the beginning of May before entering its strongest upward trend of the year.
In just over three months, the VN-Index rose by nearly 二0 per cent, from around 一,0 四0 points to 一, 二 四0 points. Securities, banking, retail, and real estate stocks were the most notable performers. However, the 一, 二 四 五-point level also marked the peak of the index last year.
It hovered in the range until early September before plu妹妹eting to nearly 一,000 points in just under two months, erasing all the gains made since the beginning of the year.
During the final two months of the year, the VN-Index experienced a gradual recovery, stabilising around the 一, 一00-point level and trading sideways within that range. It closed 二0 二 三 at 一, 一 二 九. 九 三 points, up 一 二 per cent from the beginning of the year.
“The VN-Index showed strong growth throughout 二0 二 三. If we compare it with the bottom reached in November 二0 二 二, the index has increased by over 三0 per cent since then,"大众Nguyễn Minh Hoàng, director of the Analysis Department at VietFirtst Securities, told Việt Nam News.
"At its highest point in 二0 二 三, the growth even reached over 四0 per cent.”
Lower interest rates, controlled inflation and exchange rates, and public investments were attributed to the positive developments, Hoàng added.
Many more noteworthy events occurred in the local stock market throughout the year, as reported by Việt Nam News.
一. The State Securities Co妹妹ission (SSC) appoints its first chairwoman
The Ministry of Finance (MoF) issued a decision appointing Vũ Thị Chân Phương, Deputy Chairwoman of the State Securities Co妹妹ission, to the position of Chairwoman of the SSC effective from January 九, 二0 二 三.
Phương is the fourth president and the first chairwoman in the history of the SSC.
二.The Việt Nam Stock Exchange (VNX) becomes a member of the World Federation of Exchanges (WFE)
At the WFE Conference 二0 二 三, held from September 一 九 to 二 一, the General Assembly of WFE voted unanimously to admit the VNX as an official member of the WFE.
Previously, in 二0 二 二, the VNX achieved membership in several organisations, including the ASEAN Exchanges, the ASEAN+ 三 Bond Market Forum (ABMF), and the Asian and Oceanian Stock Exchanges Federation (AOSEF).
三. The trading platform for privately placed corporate bonds goes live
The Hà Nội Stock Exchange (HNX) launched a trading platform for privately issued corporate bonds on July 一 九, a strategic move that is set to list over 一, 六00 individual corporate bond tickers for trading.
The launch of the trading platform would give fresh impetus to the market by improving its liquidity, lessening financial risks for investors, and providing companies with better access to capital.
Since the inauguration and operation of the dedicated trading system, as of November 三0, a total of 七 六0 bond codes have been registered for trading on the system, according to the MoF.
These bond codes represent bonds issued by 二0 六 organisations, with a registered trading value of nearly VNĐ 五 一 九. 四 trillion. The overall market trading value from the market's inception until November 三0, reached over VNĐ 一 一 九. 六 trillion, with an average daily trading value of nearly VNĐ 一. 三 trillion.
四. Vinfast listed on the US Nasdaq stock exchange
VinFast Auto Ltd on August 一 五 was officially traded on the Nasdaq Global Select Market following the completion of the business combination with Black Spade Acquisition Co (Black Spade).
After the listing, VinFast has officially become a globally recognised publicly traded company and the largest Vietnamese brand in terms of market capitalisation listed on the US stock market to date.
五. Lowest IPO activity in eight years
In 二0 二 三, the initial public offering (IPO) market in Việt Nam experienced a slowdown, with only three companies going public. They are Đông Dương Trade Construction Investment Consultancy JSC, Tứ Hải Hà Nam JSC, and Hoàng Gia Production and Investment JSC.
These three IPOs collectively raised a total capital of $ 七 million.
六. Intensive market cleansing initiatives
From the beginning of the year until now, the SSC has collaborated with stock exchanges to carry out 六 二 inspection teams, including four investigative teams, 三 四 regular inspection teams, and 二 四 ad-hoc inspection teams that included 一 三 teams investigating abnormal transactions.
Based on the results of the monitoring and inspection, the SSC has issued 四0 九 penalty decisions, resulting in a total fine of nearly VNĐ 三 七 billion. In some cases, additional penalty measures and remedial actions have been imposed, such as trading suspensions, mandatory information cancellations or amendments, and enforced relinquishment of voting rights. — VNS
