Mobilizing more than 173,000 billion VND through stocks and corporate bonds in 2024

Looking back at 2024, the securities industry has achieved many positive results. The key tasks for 2025 were outlined by Finance Minister Nguyen Van Thang at the recent summary conference, including accelerating the progress of KRX.

Mobilizing more than 173,000 billion VND through stocks and corporate bonds in 2024

Looking back at 2024, the securities industry has achieved many positive results. The key tasks for 2025 were outlined by Finance Minister Nguyen Van Thang at the recent summary conference, including accelerating the progress of KRX.

Mobilizing more than 173,000 billion VND through stocks and corporate bonds, the number of accounts exceeded the target

Reporting at the conference to review the work in 2024 and deploy tasks in 2025 on the afternoon of December 18, the leader of the State Securities Commission said that the market capitalization of stocks on the three exchanges HoSE, HNX and UPCoM reached 7,085 trillion VND, up 19.3% compared to the end of last year; equivalent to 69.3% of estimated GDP in 2023.

Despite many fluctuations at some points due to the impact of the world geopolitical situation, thanks to the solid support from the macroeconomic foundation, along with the effective implementation of many solutions, the securities industry has achieved many positive results. In particular, the VN-Index still maintains its growth momentum compared to the end of 2023. As of December 16, 2024, the VN-Index reached 1,263.79 points, up 11.8% compared to the end of the previous year. Meanwhile, the HNX-Index closed at 227.04 points, down 1.7% compared to the end of the previous year. Stock market liquidity has grown quite well with a solid cash flow from domestic investors. Since the beginning of the year, the average trading value per session has reached VND21,225 billion, up 20.7% compared to the average of the previous year thanks to the contribution of domestic investors, despite the fact that foreign investors have been net sellers.

The number of investor accounts has officially exceeded the Government's target with 9.15 million cumulative accounts since the beginning of the year, an increase of 1.86 million accounts during the year. The above figure is equivalent to about 9% of the population, reaching the target of 9 million accounts ahead of the 2025 deadline and is aiming for the number of 11 million accounts by 2030 set out in the Stock Market Development Strategy to 2030 approved by the Government at the end of 2023.

In 2024, the derivatives market will continue to play its role in capital allocation and risk prevention. In the first 6 months of 2024, in the context of strong fluctuations in the underlying market, the derivatives market has played its role in effective risk hedging, attracting cash flows from investors. The number of derivatives trading accounts continued to grow, reaching 1,819,961 accounts at the end of November, an increase of 343,441 accounts compared to the end of last year. The bond market continued to recover strongly with an average trading value of VND 11,542 billion per session, an increase of 77.1% compared to the average of the previous year. Foreign investors returned to net buying of VND 1,417 billion. The listing scale continues to grow with 466 listed bond codes with a listing value of more than VND 2,304 trillion, up 13.5% compared to 2023, equivalent to 22.5% of estimated GDP in 2023.

From the beginning of the year to November 30, 2024, the total capital mobilized through stock offerings and bond offerings of public companies is VND 173,052 billion. In the first 11 months of 2024, capital mobilized for the state budget through government bond auctions is estimated at VND 323 trillion, up 5.8% over the same period last year.

In addition, according to the leader of the State Securities Commission, the business activities of most listed companies and large-scale registered trading companies achieved positive results in the context of the domestic and world economic situation showing positive signs of recovery.

Key tasks in 2025: Accelerate KRX progress, build new indices

Speaking at the Conference, Minister of Finance Nguyen Van Thang acknowledged and highly appreciated the stock market in 2024 when it achieved the above impressive results despite the complicated fluctuations in the world economic situation and geopolitical tensions with many uncertain factors affecting the market.

The Minister also highly appreciated the supervision and handling of violations in the past year, which have been strongly strengthened by the Securities Industry, contributing to consolidating market discipline and enhancing the confidence of domestic and foreign investors in the Vietnamese stock market. Along with that are the efforts in building the contents of amending and supplementing the Securities Law approved by the National Assembly, in addition to the solutions that have been drastically implemented towards the goal of upgrading the stock market by 2025 under the direction of the Government and the Prime Minister.

To continue developing a modern, transparent, efficient and sustainable stock market, becoming an important and main capital mobilization channel in the national financial system and contributing to improving the competitiveness of the Vietnamese economy, Minister Nguyen Van Thang suggested that the Securities industry focus on a number of key tasks in 2025.

The first task is to focus on completing the Decrees and documents guiding the implementation of amendments and supplements to the Securities Law in Law No. 56/2024/QH15; synchronously deploying solutions set out in the Strategy for stock market development to 2030 approved by the Prime Minister.

At the same time, the State Securities Commission needs to continue to organize the market to operate stably, smoothly, ensuring security and safety; speed up the deployment of a new information technology system for the securities trading market; and promptly deploy other information technology projects to modernize the management and supervision of the securities market.

Minister Nguyen Van Thang also requested to continue to develop the stock market in an efficient and modern direction, increasingly approaching the highest international standards. In particular, focusing on building new indexes, creating conditions for investment funds to invest in indexes; researching and developing new products such as green bonds, sustainable bonds, infrastructure bonds; restructuring investors through the development of fund institutions, gradually increasing the scale and financial potential of fund management companies to encourage the participation of foreign investors and institutional investors in the stock market.

In addition, the State Securities Commission needs to rearrange market areas, classify listed companies in accordance with market development conditions; research and build a secondary carbon credit trading market, a trading market for innovative startups.

The State Securities Commission needs to strengthen international cooperation, enhance Vietnam's image and position in the international arena, aiming to upgrade the market in 2025; successfully organize the Asia-Pacific Regional Subcommittee Meeting (APRC) - IOSCO; actively participate in international cooperation forums such as the ASEAN Sustainable Finance Classification Council and the ASEAN Capital Markets Forum.

Minister Nguyen Van Thang requested the State Securities Commission to step up inspection, examination and strict handling of violations in the stock market to strengthen discipline in the market, aiming at the development of the stock market in a transparent and sustainable direction. The State Securities Commission also needs to strengthen propaganda and dissemination of knowledge on transparent investment, compliance with the law and prevention of risks and fraud in the market, encouraging investors to focus on long-term investment, contributing to the stability and sustainable development of the market.

Source: https://baodautu.vn/huy-dong-hon-173000-ty-dong-qua-kenh-co-phieu-va-trai-phieu-doanh-nghiep-nam-2024-d232972.html