Government Measures To Support Stock Market

摘要

On March 25, 2008, the Government gathered relevant bodies to seek measures to stabilise the stock market from consecutive steep drops to below the 500-point benchmark After listening to reports of the Ministry of Finance and other delegates, Prime Minister Nguyen Tan Dung assigned the State Capital Investment Corp (SCIC) to focus on buying shares of major listed firms to stabilise the market. He also assigned the State Bank of Vietnam (SBV) to steer state-owned commercial banks and persuade commercial joint stock banks to stop offloading collateralised shares. Banks will buy foreign currencies at rational exchange rates to increase market liquidity.