The stock market is very volatile

On the morning of May 11, at the 11th session of the National Assembly Standing Committee, National Assembly Chairman Vuong Dinh Hue emphasized, stock market is going very unusually. For example, the morning of May 10, VN-Index down more than 54 points but in the afternoon rebounded, and a day before (May 9), VN-Index dropped to nearly 60 points. Thus, in one session, VN-Index decreased by more than 4.4%.

“I watch the stock market every day. Yesterday, the stock market was rainy in the morning, then sunny in the afternoon. When it opened in the morning, it fell sharply, but when it opened in the afternoon, it reversed to increase. The market has been unusually recent. There’s no such thing as a stable day, can you rest assured?”said the President of the National Assembly.

National Assembly Chairman: The stock market is too abnormal - 1

National Assembly Chairman Vuong Dinh Hue.

Assessing the impact of corporate bonds, according to the President of the National Assembly last year the market developed too hot; Need to cite specific data on the total number of bonds issued, in which real estate How much is the debt due, how much is due without the ability to pay?

“The decree just issued has said that it is not strict, who is responsible for loopholes. Do not blame the objective. Subjective errors must be blamed. Which agency and who is responsible cannot be generalized.”Mr. Hue emphasized.

Also commenting on this content, Chairman of the Judiciary Committee Le Thi Nga said that in the past time, there has been a situation of manipulation, price manipulation, failure to fulfill the obligation to disclose information of some enterprises. Public enterprises and listed companies make the stock market unsustainable and stable growth.

“Besides the responsibility of businesses, it is recommended to clarify the responsibility of the Securities Commission in allowing this situation to happen”Ms. Nga emphasized.

The Chairman of the Judiciary Committee also said that it is necessary to evaluate specifically the risks to the corporate bond market over the past time, in which it is necessary to clarify the risk of enterprises being unable to pay their debts as they come due.

Commenting on the real estate sector, Ms. Nga said that in the past time, the land use right market has shown signs of instability because of mistakes in land auctions; Real estate brokers link together to raise land prices causing land fever. In addition, in the use of land, there is wastefulness, in many places the land is not put to use. The status of complaints and denunciations related to land is still many and complicated, accounting for nearly 70% of the total number of complaints and denunciations.

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