The stock market has now recovered from a slump in the beginning of February. Specifically, the VN-Index ended the March 7 trading session on a high note at 1,112.26, in spite of a 8.03-point reduction.
NFSC calls for tighter supervision of financial market.
|
Moreover, the scope of investment lending and the securities business have not been supervised sufficiently, according to NFSC.
"For the stock market to develop sustainably and to minimize negative external impacts, State Securities Commission should cooperate closely with the State bank of Vietnam (SBV) in securities lending and depository," stressed NSFC.
With a view to attracting foreign investors, NSFC recommended the facilitation of state-owned enterprises (SOEs)' equitization and state capital divestment. In particular, there should be a clear roadmap for the initial public offering (IPO) of large SOEs, taking advantage of favorable conditions from the stock market.
In the first two months of 2018, foreign investors posted net purchases of US$573 million, including US$542 million in stocks and the remaining US$31 million in bonds.
In February, foreign investors continued net purchases of US$151 million, with US$154 million in stocks and net sale of US$3 million in bonds.
Overall, 2018 is expected to see positive movements in indirect foreign investment thanks to macro factors such as stable exchange rate and inflation, the estimated growth rate of 6.8% in 2018, and the CPTPP being signed in early March, stated the report.
