The stock market is expected to grow strongly this year, amid upgrading and changes in trading technology.
Expectations for the new trading system, aiming for promotion
Since the beginning of the year, the stock market has grown by 12%, which is considered quite positive, and the cash flow into the market has improved significantly, about more than 20,000 billion VND/session. This is believed to come from the confidence of investors returning to the stock market.
Therefore, the story of upgrading the stock market - the key task of the Ministry of Finance, is receiving special attention from investors.
Ms. Pham Thi Thuy Linh, Deputy Director of Market Development Department, State Securities Commission. Photo: Investment Newspaper
Sharing at the seminar "Stock Market: Building Foundation - Accumulating - Accelerating" organized by Investment newspaper, Ms. Pham Thi Thuy Linh, Deputy Director of Market Development Department, State Securities Commission (SSC), said that international rating organizations divide the stock market into 4 main groups, currently the Vietnamese stock market is in group 3 - Frontier stock market, the group of markets that have begun to access foreign capital.
Therefore, the goal of upgrading Vietnam's stock market by 2025 will be from the frontier to group 2 - an emerging stock market at the secondary level.
Mr. Tran Hoang Son, Director of Market Strategy, VPBank Securities JSC, emphasized that upgrading the market will help the market welcome capital flows of 8-10 billion USD, greatly supporting market growth.
In addition, this year, the launch of the KRX trading system is expected to help the market grow positively.
KRX is an information technology system for managing and operating transactions on the Vietnamese stock market, signed by the Ho Chi Minh City Stock Exchange (HOSE) with the Korea Stock Exchange in 2012, expected to be operational in 2024.
Ms. Pham Thi Thuy Linh affirmed: "Currently, securities companies, departments and depository centers have had a test session. As for the state management agency, we are determined to put this system into use when the test is successful."
"Every time the stock market has a new change, market liquidity increases. The information technology system is developed, investors can trade freely, and the sales and market share of securities companies will grow. Therefore, the whole market is expecting the new KRX trading system," Mr. Tran Hoang Son expressed his expectations for the KRX system.
Evaluating the KRX system, Mr. Son said that the old trading infrastructure often suffered from order congestion when the market was hot. Therefore, the change to the new system will ensure smoother transactions, help investors trade faster, and many organizations can trade automatically.
Shorten the trading time, from T2.5 to T2. Futures are not only derivatives in stock indexes but also derivatives in stock products. The system changes investors will benefit a lot in terms of trading products. Extending the trading time, market liquidity increases.
VN-Index will surpass 1,300 points this year
VN-Index has been performing well since the beginning of the year (Source: SSI iBoard)
In the short term, market experts predict that VN-Index may grow in the range of 1,200 - 1,3xx points, and will exceed 1,300 points this year.
According to Mr. Tran Hoang Son, there are two factors that help the market grow well this year : policy orientation and business recovery momentum. VN-Index may reach its highest level this year at 1,326 - 1,350 points.
At the same time, Mr. Son recommends that at this point, investors should avoid chasing the market. Currently, the groups: securities, banking, steel are no longer too cheap and will adjust their valuations when they have positive business results. This year, there may be 2 strong corrections, but after that, the market will continue to rise.
Suggesting sectors that investors may be interested in, at the seminar, experts mentioned a number of specific sectors: steel, consumption, securities, public investment, banking.
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