After strong growth in the previous quarter, Vietnam’s currency bond market contracted 0.2% due to a decline in the Government bond market and slower growth in corporate bonds.
As the tightening of lending and corporate bond issues is hitting the property sector, the market is doomed to grapple with severe financial hardships.
Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has submitted a report to National Assembly (NA) deputies on issues raised during the Question-and-Answer session, including credit management and control in potentially risky areas, especially securities lending, corporate bond issuance.
VOV.VN - Experts and businesses have recommended that the Government quickly accelerate the credit rating of bond issuers and move to strengthen the accountability of intermediaries as a way of minimising risks for investors engaging in the capital market.
VOV.VN - Prime Minister Pham Minh Chinh has issued a telegram requesting relevant ministries and agencies to intervene to ensure healthy and effective operations of the stock and corporate bond markets.
Any act that aims at manipulating the stock and corporate bond markets to gain illicit profits will be punished strictly, according to the Ministry of Finance.
VOV.VN - 2021 presented a bonanza year for Vietnam’s stock market as its benchmark VN-Index rose nearly 36%, making it into the top 10 benchmark indexes in the world.
The Ministry of Finance is taking measures to better develop the corporate bond market safely and effectively.
Over US$16.91 billion has been raised from sales of corporate bonds in the first nine months of this year, according the Vietnam Bond Market Association (VBMA).
Profits of the banking industry in the third quarter of 2021 would decrease by 19% compared to the previous quarter due to slowing credit growth and increasing provision expenses, Yuanta Securities Vietnam estimated.