VietNamNet Bridge - In the past three months, the Vietnam stock market grew 11.58%, far exceeding the 7.81% growth rate of the Mongolian stock market, the 5.96% rate of China and the 4.72% rate of Greece. This was the highest rate in the world, according to Indexq.org. In the past month, Vietnam's stock market also achieved impressive growth rate of 6.99%, compared to 5.39% of Denmark, 4.92% of the Czech Republic, 2.47% of Hungary or 2,06% of New Zealand. According to many experts, Vietnam’s decision to increase the percentage of foreign ownership to a maximum of 100%, except some special fields, is the factor that caused the high growth of the stock market in recent times. Domestic investors have purchased more shares in the expectation that the foreign capital inflows would pour into the market after the decision takes effect this September. In an interview in the Wall Street Journal, Louis Nguyen, CEO of Saigon Asset Management, said that Vietnam's stock market would … [Read more...] about Vietnam stock market growth highest in world
Stock market shares
Hanoi Times - "Dau tu chung khoan" newspaper has selected the five most important developments and characteristics of Vietnam's stock market in 2007. 1. There are 249 share and fund certificate items listed on the HCM City Stock Exchange and Hanoi Securities Trading Centre (138 on HOSE and 111 on HASTC). The number of listed companies just account for 2% of total joint stock companies now operational in Vietnam. This is a very low ratio. Two things need to be done to improve this number. First, Vietnam needs to speed up equitisation of State-owned and foreign invested limited enterprises. Second, it is necessary to create ideal conditions for joint stock banks to list on the official bourse. There are 74 operational securities companies now, while there were 55 in 2006 and 14 in 2005. There are 24 investment fund management companies now, while there were 18 in 2006 and 6 in 2005. 2. There are 5.5bil shares listed on the official bourse, double that of 2006 … [Read more...] about Stock Market features – 2007
Hanoi Times - The net worth of the 100 stock market millionaires in 2007 is much higher than in 2006 as they now have more shares, or enterprises have higher profits. 2007's list of 100 stock market millionaires includes the names of many owners of newly listed companies. In 2006, the database which VnExpress newspaper relied on to select the 100 stock market millionaires were the prospectuses of nearly 150 companies. The total assets held by 650 individuals listed on the prospectuses were valued at VND 37.2trillion (US$2.325billion), or 4% of Vietnam's GDP. This is the second year the newspaper conducted this survey and announced the 100 richest shareholders. The surveyors used reports made public by 237 of 253 companies listed on the Hanoi and HCMCity bourses by December 31, 2007. 2,900 individuals have been listed in said companies' prospectuses, who have total stock assets totaling VND 86.4trillion (US$5.4billion), or 7.6% of GDP. The assets of the 100 richest … [Read more...] about 100 stock market millionaires in 2007
Although the Vn-Index in 2007 increased only 25 percent as compared with 146 percent last year, foreign and domestic experts said that a robust growth in the market capitalisation this year will create a "snowball effect" on attracting foreign business circles next year. This year's market capitalisation is estimated to reach nearly 496,000 billion VND (around 30 billion USD), making up 40 percent of the GDP as compared with 22.6 percent last year and 5 percent in 2005. "The larger the market capitalisation is, the higher market transparency is, so this will contribute to drawing more investment from foreign investors and because of that, the market will have a higher liquidity and continue to be more transparent," General Director of Mekong Securities Company Nguyen Viet Ha said. Ha guessed that the year 2008 will see a gain in foreign investment into the securities market as big companies, including the Bank for Foreign Trade of Viet Nam and the Viet Nam Insurance Corporation, … [Read more...] about 2007 stocks market gives impetus to attract foreign investors
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?