State intervenes in plunging stock market (26-03-2008) HA NOI — Securities regulators have taken a dramatic move to intervene in and stanch the nation's haemorrhaging stock market by more tightly controlling the value which shares can lose within a single trading day. The State Securities Commission decided yesterday to tighten the daily trading band for securities listed on both the HCM City Stock Exchange (HoSE) and with the Ha Noi Securities Trading Centre (HaSTC). Effective tomorrow, shares listed on the HoSE will be restricted in the course of a single day's trading session to within one per cent of the day's reference price, plus or minus. The new trading band replaces the previous five-per-cent trading band, after a string of recent trading sessions during which most shares on the bourse hit the floor several days running, sending the VN-Index into a nosedive. The Index closed out the day yesterday by dipping below the 500-mark. Also effective tomorrow, shares traded at … [Read more...] about State intervenes in plunging stock market
How to buy a share in the stock market
Experts speak about the VN-Index's fall and muse on how to resuscitate it. The VN-Index has lost 43.59 points, or 5 percent, in the week after Tet to close at 816.03 Saturday. asked several analysts for their suggestions on how to revive the market: Don't bet on stock trading HCMC Open University's Accounting-Finance-Banking Faculty Chair Dr. Nguyen Van Thuan The US economy, which is heading deeper into a recession, affects stock markets in many countries, including Vietnam. But I think the main factors affecting the local market come from within our country. The capital gains tax should be applied in a suitable way. For example, rate of the tax should be raised gradually. Raising capital through selling shares of listed companies should be monitored more closely. The economy won't develop steadily if the companies don't put the capital said through share sales into their main businesses. The fines for stock regulation violations should be heavier. The … [Read more...] about Stock market revival?
With the Ho Chi Minh Stock Exchange dropping 54 percent in value this year, Prudential Vietnam Fund Management Company's acting general director says it offers opportunities. Director Pham Ngoc Bich said that if investors did not buy heavily now, they would regret not taking advantage of the plunge in two years. A Thanh Nien interview with Bich is excerpted below. Thanh Nien: How have your fund's investors reacted to the bearish market? Pham Ngoc Bich: The market will surely bounce back. I and my fund's investors are in the market for the medium- and long-term, so its current fluctuations, which won't last long, don't make us nervous. Share prices on the market are pretty low, offering gilt-edged investment opportunities. I believe many investors will regret wasting the chance in two years if they don't start to buy now. We at Prudential don't want to miss such great opportunities, so we plan to invest in the energy, oil, agriculture and food sectors. Many … [Read more...] about Prudential chief finds value in plummeting stock market
How To Buy A Stake In Vietnamese Enterprises By Tran Thanh Tung& Nguyen Thi Phuong Chung (*) Five steps towards acquiring a stake in local enterprises Thanks to his business networks, an Indian investor managed to clinch a deal under which it would acquire a 4% stake in a local joint stock firm. The contract was signed, money was transferred into the seller’s account, the buyer’s particulars were noted and the company already supplied the shares. The transaction was, in short, all but complete. However, the company failed to touch on the issue of dividends; neither did it convene a general meeting as requested by this Indian investor. When dispute erupted and the case was referred to the Department of Planning and Investment, the deal was considered as illegal since it was not registered at this agency. Investor rights, in this case, are questionable. This scenario reflects the problems gripping foreign investors who want to purchase shares in local companies. Trouble … [Read more...] about How To Buy A Stake In Vietnamese Enterprises
Talking Shop (29-03-2007) Hot stocks drive trend to open new banks in nation The trend to start new banks as financial institutions see more and more success on the stock market have made people ask whether this is a good thing for Viet Nam. Le Duc Thuy, governor of the State Bank of Viet Nam (SBV), spoke with the media yesterday on the sidelines of a National Assembly meeting. Is it true there is a movement to form new banks while the regulations on establishing them are still being drafted? The movement to establish new banks indicates two things. First off, the banking sector is very attractive to both domestic and foreign investors. The trend shows this field has become ripe with growth and opportunities because no one puts money into a sector that does not perform well. And secondly, people are looking to make a huge profit and therefore make careless decisions when proposing these types of businesses, as people often believe bank shares are hot in the official and … [Read more...] about Hot stocks drive trend to open new banks in nation