The Vietnam Economic Times interviewed Chairman of the State Securities Commission (SSC), Tran Van Dung just prior to the April 16-20 Investment Promotion Conference in South Korea. Mr. Tran Van Dung, SSC Chairman (Photo from SSC) Vietnam’s stock market has witnessed the highest net foreign investment flows ever. How would you assess stock market investment from South Korea? The stock market continued to be an attractive destination for foreign direct investment (FDI) in 2017. Total investment from foreign investors as at the end of the year was $32.9 billion, an increase of 90 per cent compared to the end of 2016. In the first three months of 2018, foreign indirect investment (FII) continued to rise and the foreign portfolio value reached $37.6 billion by the end of March, up 14 per cent compared to the end of last year. We are happy to see that indirect investment from South Korean investors is growing strongly, though it’s quite modest compared to … [Read more...] about Efforts underway to promote Vietnam’s stock market
Trading on the stock market
People watch stock movements at Bảo Việt Securities Co in Hà Nội. — VNS Photo Trương Vị The market opened for Monday morning’s session with a strong outlook, thanks to the listed banks’ positive earnings prospects. On the Ho Chi Minh Stock Exchange, the VN-Index added 0.57 per cent to end at 940.83 points. On the Ha Noi Stock Exchange, the HNX-Index increased 0.63 per cent to close at 106.37 points. Overall market condition was positive with 212 shares rising, 158 declining and 372 closing unchanged on the two exchanges. Over 114.6 million shares worth a combined VNĐ1.9 trillion (US$83 million) were traded on the two markets this morning. Bank stocks fueled the market rise. Gainers included Asia Commercial Bank (ACB), JSC Bank For Investment and Development (BID), Vietinbank (CTG), Military Bank (MBB), HDBank (HDB), Techcombank (TCB), Vietcombank (VCB) and VPBank (VPB). Other large cap stocks such as Vincom Retail (VRE), … [Read more...] about Shares gain on bank stocks
PVIRe elected its new board of directors at its recent shareholders meeting Robust growth Figures released by the Ministry of Finance’s Insurance Supervisory Authority showed that last year, Vietnam’s non-life insurance market’s size reached $2 billion and insurance premium value jumped by 12 per cent on-year to reach VND43.6 trillion ($1.94 billion). Non-life insurers retained 68 per cent of insurance premium value, whereas the remaining 32 per cent was ceded to reinsurers to transfer risks, helping to shape a secondary market barely known to the Vietnamese public, the reinsurance market. Worldwide, this market is the playing field of long-standing financial institutions with a value reaching several hundred billion dollars, such as Swiss Re, Munich Re or legendary billionaire Warren Buffett’s Berkshire Hathaway Group, which boasts the second-largest revenue in the US. In Vietnam, the reinsurance market’s size reached VND13.07 trillion ($596.8 million) … [Read more...] about PVIRe taking the initiative on the reinsurance market
Vietnam’s stock market fell by 2.86 percent on Tuesday to close at more than 985 points, marking the very first time it has dropped from the level of 1,000 points and higher since the beginning of this year. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE) hit 984.24 on the last trading day of 2017, the highest ever since 2007, before reaching 1,000 points in early January. As many as 28 blue chips saw their points dropping in the trading session on Tuesday afternoon. There were only 58 companies gained points on the stock market and as many as 257 others lost points by the closing time. Vietnam’s Deputy Prime Minister Vuong Dinh Hue last Friday demanded relevant authorities to find out why the country’s stock market has been so volatile over the past few months, which is hurting the economy. Aside from objective market analysis, the deputy PM requested analysts to look into all other possible factors to ascertain whether there’s been any insider … [Read more...] about Vietnam’s stock market falls from 1,000 points
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?