The stock market inched higher on February 15 after a week closed due to Tet holiday, buoyed by gains in bank stocks.
The State Treasury has announced that it plans to raise VND400 trillion (over US$16.25 billion) worth of government bonds via auctions on the Hanoi Stock Exchange (HNX) this year.
The market capitalisation of Vietnam’s stock market approximated VND6 quadrillion (US$246.7 billion) in 2023, rising 9.5% from and equivalent to about 62% of gross domestic product (GDP) in 2022, statistics show.
Hong Kong and Vietnam have numerous areas in which they could closely cooperate with each other, especially in professional financial services, Secretary for Financial Services and the Treasury of Hong Kong Christopher Hui said following his trip to Vietnam from December 13-15.
The total value of corporate bond issuances was recorded at VND42.783 trillion (US$1.86 billion) in the first half, according to data compiled by the Vietnam Bond Market Association (VBMA) from the Hanoi Stock Exchange (HNX) and the State Securities Commission (SSC).
The State Treasury raised VND34.81 trillion (US$1.48 billion) worth of Government bonds, or 84.39% of the total G-bonds on offer, via 14 auctions on the Hanoi Stock Exchange (HNX) in April.
The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.
Many factors are expected to draw cash flow back on the stock market, especially that from foreign investors.
The State Treasury raised nearly VND36.6 trillion (US$1.58 billion) worth of Government bonds, or 79.12% of the total G-bonds on offer, via 12 auctions on the Hanoi Stock Exchange in February.
Vietnam’s stock market will bounce back strongly and develop in both quantity and quality in 2023 to remain an effective capital mobilisation channel for the economy, an official has said.