Macroeconomic stability is the good foundation for stock market development
During the government’s regular press conference in October 2022, held on October 29 in Hanoi, Deputy Finance Minister Nguyên Duc Chi analyzed the main causes of the stock market decline.
According to the Deputy Minister of Finance Nguyên Duc Chi, the very high inflation of savings, the strong change in monetary and fiscal policies of countries, the Russian-Ukrainian conflict affecting the world supply of oil energy are the main causes of the stock market decline.
Moreover, the global stock market has therefore fallen deeply, directly affecting the Vietnamese stock market.
|At the Ho Chi Minh City Stock Exchange.|
On domestic factors, Vice Minister Nguyên Duc Chi said monetary policy adjustments, rising interest rates and strict credit line management had affected money flows. However, according to the official, macroeconomic stability will be a good foundation for the development of the stock market.
Regarding solutions, he said the Ministry of Finance will maintain a stable, safe and transparent operation of the market by requiring companies and market members to strictly enforce information disclosure. The Ministry shall strictly deal with violations in accordance with the provisions of the law; strengthen inspection and examination to monitor the market, listed companies, securities companies, fund management companies and investors in their transactions to control transaction information, information disclosure. ..; strengthen official information from state management agencies; fight against false and erroneous information for profit.
In the long term, the Ministry of Finance plans to review the Securities Act to help the market adapt and meet the stated requirements; to restructure the stock market to ensure the capacity of securities companies, fund management companies…