Stock market capitalization by the end of 2023 will reach more than 240 billion USD

Total market capitalization by the end of this year reached more than 240 billion USD, equivalent to 56.4% of GDP, of which the HoSE floor alone was 186 billion USD.

2023 was a volatile year for the stock market. The VN-Index surged in the first month of the year, closing above 1,100 points but fell back to nearly 1,000 points just a month later. The market remained quiet until early May, before entering its strongest growth phase of the year.

In just over three months, the VN-Index increased by nearly 20%, from 1,040 points to 1,240 points. Securities, banking, retail, and real estate stocks are the most notable names. However, the 1,245 point price range is also the peak of the VN-Index in 2023.

The HoSE index maintained this price range until early September before plummeting. Selling pressure increased rapidly due to mixed developments in the international market and the US Federal Reserve (Fed) continuously raising interest rates. The VN-Index plummeted to nearly 1,000 points in just under two months, erasing all gains from the beginning of the year. Liquidity during this period also dropped sharply, to around VND10,000 billion on HoSE.

In the last two months of the year, the VN-Index gradually recovered, returning to around 1,100 points and moving sideways in this area. At the end of the session on December 29, the HoSE index closed at 1,129.93 points, up more than 12% compared to the beginning of the year. The total market capitalization by the end of 2023 will reach more than 240 billion USD, equivalent to 56.4% of GDP.

By the end of this year, there will be 394 stock codes, 14 ETF certificates, 4 closed-end fund certificates and 229 CW codes listed on HoSE. The total volume and value of listed securities will reach 154.9 billion securities and more than 1.53 million billion VND, respectively, up 7.7% in volume and 7% in value compared to 2022.

In the stock market development strategy until 2030 recently approved by the Prime Minister , the stock market capitalization will reach 100% of GDP in 2025 and 120% of GDP in 2030. This figure is nearly double the current capitalization.

The number of securities trading accounts of investors in the target market will reach 9 million accounts in the next two years and 11 million accounts in 2030, focusing on developing institutional investors, professional investors and attracting the participation of foreign investors. With a scale of more than 7.2 million current trading accounts, it is estimated that there will be about 2 million new accounts by 2025.

Outstanding debt of the bond market will reach at least 47% of GDP (of which outstanding debt of corporate bonds will reach at least 20% of GDP) by 2025 and at least 58% of GDP by 2030.

Minh Son

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