The headquarters of the State Bank of Vietnam (SBV) in Hanoi. The SBV's monetary policy will have impacts on money supply (M2). (Photo: sbv.gov.vn) Hanoi (VNS/VNA) – After hitting a record low in 2022, Vietnam's money supply (M2) will rebound in 2023 and become an important driver for the recovery of the stock market , KB Securities Vietnam (KBSV) forecast. Under the 2023 stock market outlook report released recently, KBSV said M2 was a factor that had a strong impact on the stock market movements. In the past, when M2 strongly increased, along with the low interest rates and the abundant cash flows into the stock market, the VN Index surged strongly, and vice versa. KBSV cited the periods of 2006-2007, 2016-2017 and 2020-2021 as examples. In the periods, Vietnam's stock market witnessed a strong development when M2 had a high increase of more than 14% thanks to a combination of many factors such as the loosened monetary policy of the State Bank of Vietnam (SBV), the high capital absorption capacity of the economy and abundant foreign capital inflows. In contrast, the Vietnamese stock market in the periods of 2011, 2018 and 2022 saw a correction when M2 had a low… Read full this story
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