VietNamNet Bridge - In order to be listed among top 10 stock billionaires by December 21, 2016, an individual must have stock assets of at least VND2.2 trillion, a figure higher than the total assets of many listed companies. Ten years ago, ‘the rich’ meant business people who got wealthy from trade and real estate development. When the stock market boomed in 2006, many Vietnamese began talking about a new generation of ‘super rich’ on the stock market called ‘securities godfathers’. The value of stocks held by individuals was worth up to trillions of dong, or even higher than the total assets of many enterprises in Vietnam. At the end of 2006, one needed to have assets worth VND836 billion to be added to the list of the 10 richest stock billionaires. The businessman who topped the 2006 list of richest stock billionaires was Truong Gia Binh, president of FPT, the largest domestic information technology group. FPT shares entered the bourse on … [Read more...] about How the stock market creates a super-rich class
New companies to the stock market
VietNamNet Bridge – The newly released Circular No 36, which limits commercial banks’ lending to fund securities investments, thereby blocking capital flow into the stock market, could lead to a collapse of the market, some believe. Thoi Bao Kinh Te Vietnam quoted its sources as saying that policymakers have met again to reconsider Circular No 36 just released by the State Bank. The State Bank has never before incurred such pressure after issuing new regulations. The Vietnamese stock market unexpectedly saw sharp declines in the second half of December 2014, when foreign investors sold more than they bought, while securities companies were hesitant in their trading activities. Some analysts blamed the sharp fall on Circular No 36, which they believe has blocked capital flow to the market. An analyst commented that the stock market now does not have the "leverage" to grow, because banks have cut capital to securities investors who want to make investments. He went … [Read more...] about Will new regulations stall the stock market?
Seminar proposes measures to stabilise stock market (04-03-2009) HA NOI — A seminar conducted by the State Securities Commission last week developed six measures for developing the nation's stock market, aimed at stabilising the market and shoring up investor sentiment in the short term, and restructuring the market in the long term. The measures developed by seminar participants were: (1) to continue to equitise State-owned enterprises to spur innovation, add higher quality shares to the stock market and lure investment; (2) to enhance banks' financial capacity and increase sources of foreign capital by allowing domestic banks to sell stakes of up to 5 per cent to foreign banks without permission from the State Bank of Viet Nam, and by raising the cap of foreign holdings in domestic banks from the current 30 per cent to 35 per cent; (3) to delay the new personal income taxes on dividends and capital gains from securities investment for one to two years; (4) to establish a market … [Read more...] about Seminar proposes measures to stabilise stock market
CPV: Vietnam will increase the total value of shares listed on the stock market to 10% of the Gross Domestic Products (GDP) by 2010, equivalent to between 150 and 160 trillion VND. After five years of operating a stock market, Vietnam has recorded many achievements. Achievements The opening of the Ho Chi Minh City Securities Trading Centre (HSTC) in July 2000 marked a milestone in Vietnam's efforts in its economic reforms and reaffirmed Vietnam's determination to develop a market economy. Vietnam has successfully organised and operated the Ho Chi Minh City Securities Trading Centre, ensured the principles of the stock exchange, gradually created more goods for the stock exchange, and strengthened the management of listed firms and clarified information on the stock exchange. In addition, the country is expanding operations of intermediary organisations on the market and improving service quality, and building domestic and foreign investor systems. The Vietnamese stock exchange has … [Read more...] about Vietnam to develop stock market
The domestic stock market has witnessed sessions with low trading volumes in the early days of the New Year. However, Mr Vu Bang, Chairman of the State Securities Commission of Vietnam said he believed that the adjustment of the stock market in 2007 is necessary for higher steps of development in 2008. What are your remarks of the stock market in 2007 and its prospects for 2008? In 2007, the stock market failed to make many investors happy, however, the market scale doubled compared to 2006. This proved that domestic and foreign investors are very interested in the Vietnamese stock market, a good signal for the development of the stock market in Vietnam in 2008. I wish investors and market members a new year of prosperity together with the Vietnamese stock market. According to experts, the stock market will reach a target of total market capitalisation equivalent to 50% of GDP. What is your comment? The target is achievable. In 2008, equitisation process will continue to be boosted, … [Read more...] about Will the stock market thrive in 2008?