Vietnam, Asia’s top stock market so far this year, is set to become the world’s worst performer this month, according to Bloomberg. The benchmark VN-Index slid 3.2 percent at the close on Thursday as trading resumed after a holiday on Wednesday, with foreign investors unwinding their positions in emerging markets aand rushing to exit a market that reached a record about two weeks ago. “There is a lot of foreign selling today and clearly the market is on a down trend and it is really pushing some margin calls,” Michel Tosto, the Ho Chi Minh City-based head of institutional sales and brokerage at Viet Capital Securities, said by phone. Thursday’s fall brought the drop so far in April to 11 percent, on course for its worst monthly performance in seven years. The decline wiped off more than $15 billion from the nation’s market capitalization. The plunge in the stock market is attributed to rising U.S. treasury yields and a stronger dollar that have … [Read more...] about Vietnam stock market set to be world’s worst in April
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VietNamNet Bridge - If everything goes smoothly, the Vietnam stock market may be upgraded to an emerging market by 2020. Vietnam hopes its stock market would be upgraded to an emerging market by 2020 The Saigon Securities Incorporated (SSI) March financial and monetary report showed that the stock market scale has grown rapidly with value reaching $191 billion by the end of the first quarter of 2018, equal to 95 percent of 2016 GDP, an increase of 24.7 percent compared with the end of 2017. The scale is approximate to that of the UAE stock market ($245 billion), the Philippines ($270 billion), and higher than that of many emerging markets, including Qatar ($131 billion), Pakistan ($82 billion) and Egypt ($58 billion). The market liquidity has also increased to VND8.8 trillion per trading session, rising by 80 percent in comparison with the average level of 2017. The market liquidity has also increased to VND8.8 trillion per trading session, rising by 80 percent in … [Read more...] about Stock market expected to be upgraded to emerging by 2020
Driven by an improving economy and foreign investment giants, Vietnam’s stock exchange has outperformed the rest of Asia so far this year. The benchmark VN-Index has risen around 17 percent since January, outpacing Asia’s main share benchmarks, and the market has more than doubled over the past two years, the Financial Times reported on Wednesday. The VN-Index, a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, closed at 1,150 on Tuesday. Vietnam has become a fertile land for foreign investors, the Financial Times cited analysts as saying. Foreign firms that have set up factories in Vietnam over the past decade are now contributing to its improved trade balance, including Intel and Samsung, they said, adding that Vietnam's bright economic prospects have contributed to the stock market's success. Vietnam’s economy grew 7.38 percent in the first quarter of this year, the highest rate in a decade thanks to … [Read more...] about Vietnam’s stock market posts highest gain in Asia
VietNamNet Bridge - The Vietnamese stock market in 2017 saw stock prices escalating, but not all investors could make money. The stock market in 2017 saw stock prices escalating Tuan, a 27-year-old investor, spends most of his time watching electronic boards on securities and trading floors and calling brokers. He was surprised that the CMG share price had dropped so dramatically despite the upward trend of the market. The high GDP growth rate, the government’s actions, and foreign capital flow are the three factors behind the strong rise of the stock market in 2017. ‘Too strong’, ‘crazy’ and ‘incredible’ are the words investors use to describe the rise of the stock market in 2017. RELATED NEWS GDP growth must rely on internal strength: economists Three scenarios for Vietnam stock market in late 2017 Kim Chi … [Read more...] about What’s behind the strong performance of the stock market in 2017?
VietNamNet Bridge - Vietnam plans to list 10 banks on the stock market this year, but only four have implemented the listing so far. Others are still consulting with shareholders. Banks have to list shares on the bourse Under a Ministry of Finance decision, all 730 equitized enterprises with more than 100 shareholders will have to list their shares on the bourse this year. These include 10 commercial banks, namely OCB, ABBank, Techcombank, Nam A Bank, Maritime Bank, Viet A Bank, TP Bank, SeABank, HD Bank and LienVietPost Bank. The banks have mentioned the listing, but later canceled plans for different reasons. In April, shareholders of many banks approved plans to list on the bourse. But to date, only four of them have fulfilled the plans. VIB Bank has listed 564 million shares on UpCom since January 9, but plans to shift to the HCMC bourse (HOSE) next year. Kien Long Bank listed 300 million shares on UpCom on June 29. Vietnam plans to list 10 banks on the stock … [Read more...] about Banks plan to list on stock market, but progress slow