Prices of some securities services to be cut to support market
The Ministry of Finance has agreed in principle to reduce prices of some securities services to support the Vietnamese stock market, which has been in downfall since the COVID-19 outbreak.
The reduction of prices for some securities services is meant to give timely support to investors and the market (Photo: VNA)
Hanoi (VNA) – The Ministry of Finance has agreed inprinciple to reduce prices of some securities services to support theVietnamese stock market, which has been in downfall since the COVID-19 outbreak.
Chairman of the State Securities Commission TranVan Dung said four types of services on the derivatives market at the VietnamSecurities Depository will have their prices cut this week.
The commission will consider slashing prices forother services and ask for the Finance Ministry’s opinions when necessary togive timely support to investors and the market, he noted.
Dung said the move is essential in the currentcontext, which is also in line with the Prime Minister’s Directive 11/CT-TTg issuedon March 4 on some urgent tasks and solutions to tackle difficulties facingproduction and business activities and ensure social security amidst theCOVID-19 pandemic./.
To stabilise investor sentiment after the Lunar New Year holiday, the Ministry of Finance has directed the State Securities Commission to closely monitor the market and crack down on the use of negative information about the coronavirus epidemic to manipulate stock prices.
Foreign investors bought more Vietnamese stocks than they sold in January, snapping a month-long streak as net buyers after offloading shares in the last five months of 2019.
The Vietnamese stock market had a tough time throughout February with most stocks weakening amid concern about the global spread of the coronavirus disease(COVID-19).
The volume of corporate bonds issued during February has reduced remarkably compared to the previous month due to the negative impacts of the COVID-19 epidemic on the stock market.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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The reduction of prices for some securities services is meant to give timely support to investors and the market (Photo: VNA) 
