On March 5, 2025, the Vietnam Securities Economic Times e-magazine hosted the seminar "Data Journalism and Sustainable Development of the Stock Market," marked by the launch of the Financial Market Special Page - Fitrade Data System. This event brought together key figures from various sectors to discuss the pressing need for high-quality data amid rampant information pollution on the Internet.
Mr. Luu Dinh Phuc, the Director of the Press Department at the Ministry of Culture, Sports and Tourism, highlighted the current widespread issue of "information pollution" across online platforms, noting the prevalence of unverified sources. He argued for the necessity of journalism to adopt strategies for 'distilling' information, enriching its content by providing accurate and practical data. According to him, it is imperative for information to hold genuine value: the more specialized and targeted it is, the greater the competitive advantage it creates.
During the seminar, Mr. To Tran Hoa, the Deputy Head of Market Development at the State Securities Commission, underscored the overwhelming amount of information investors are confronted with online, complicate the data filtering process significantly. He shared the sobering reality of trading sessions with no buyers, leaving investor sentiment shaken. By ensuring comprehensive data sources are available, regulatory oversight can improve. Only then can analyses and explanations become precise and reasonable, allowing investors to grasp the true causes of market fluctuations.
For investors, data remains the cornerstone of decision-making. For businesses, it's pivotal to production and operational strategies, whereas for regulators, having accurate data systems is fundamental for effective policy-making and market management. Ms. Hoang Hai Anh, the General Secretary of the Vietnam Securities Business Association, shared insights on the two primary categories of stock market data: primary and secondary data. Primary data consists of official information disclosed by listed firms, which regulatory bodies monitor and use for scrutiny, guiding businesses and informing investor decisions. On the other hand, secondary data reflects market observations and is often utilized by securities firms and intermediaries to forecast trends and provide investment advice.
Despite the State Securities Commission's noteworthy disclosures and investment efforts directed at their data systems, Ms. Hai Anh emphasized there's still opportunity to improve quality and broaden the scope of the data available. For example, having detailed information about the professionals working within the securities industry is significant for investors during their decision-making processes.
Further addressing the secondary data aspect, there is an apparent need for mechanisms guaranteeing the authenticity of the secondary data compiled by various entities. While current data primarily revolves around financial reports and corporate information, the future will require additional data related to strategic analysis and market trend assessments.
Artificial Intelligence (AI) was also underscored as being increasingly requisite for investment consultancy. Ms. Hai Anh raised concerns about the accountability of AI-generated advice and legal ramifications when giving erroneous recommendations. Management of big data presents another considerable challenge as AI progressively participates in market analysis, generating investment suggestions driven by algorithms. Without clear regulations, AI could be manipulated by data providers, potentially destabilizing the market.
Mr. Luu Dinh Phuc also remarked on the rise of stock education platforms where experts share insights. He pointed out, provided such content doesn't merely reiterate basic information but has the potential to influence the market and investor psychology, rigorous oversight is needed. Identifying and regulating this information flow requires technological applications to analyze the impact on public sentiment effectively.
The seminar concluded with the official launch of the Financial Market Special Page - Fitrade Data System. Mr. Nguyen Viet Viet, Editor-in-Chief of Vietnam Securities Economic Times, announced this initiative as the result of months of research and development aimed at systematizing and accurately processing financial information. Fitrade aims to facilitate access to pivotal data, from market statistics to detailed investment trend analyses.
Fitrade combines cutting-edge technology with deep insights of the Vietnamese financial market, promising to deliver not only data but also valuable tools to aid investors. The platform seeks to serve diverse audiences by bridging gaps between individual investors and larger institutions.
Mr. Nguyen Thanh Doan, Deputy Editor-in-Chief of Vietnam Securities Economic Times, expressed aspirations for Fitrade to establish a large-scale, systematic data foundation over the long term. He emphasized it should not merely function as a data portal but rather provide trustworthy information reflecting timely market dynamics, enabling users to access transparent and practically valuable data.
The seminar underscored the transition toward enhanced data-driven practices within Vietnam's stock market, highlighting the launch of Fitrade as pivotal to achieving improved transparency and sustainable market growth.