The Vietnam Stock Exchange–the overarching body managing the Hanoi and Ho Chi Minh City Stock Exchanges–reported revenue of just US$78.26 million in 2023, a fall of 44 percent over 2022, Vietnam Plus is reporting.
Of that revenue, the Ho Chi Minh City Stock Exchange generated VND 1.39 trillion (US$56.5 million) and the Hanoi Stock Exchange generated VND 462 billion (US$18.8 million).
Vietnam’s stock markets had a challenging year in 2023 on the back of a general downturn in the economy. Notably, the number of IPOs was relatively low–by the middle of November there had been just three. The bond market was also frozen for the first three months of the year on the back of enhanced listing regulations. There was also a strong pull back from foreign firms which net-withdrew over US$1 billion from the HoSE over the course of the year.