Stock Market Outlook 2008: Brighter Prospects? The Vietnamese stock market ended 2007 after many shifts. Overheated growth did not happen in 2007 as in 2006. Although the market had significant development, the movement in the second half of 2007 caused experts and investors to review their assessments. A changing year ends From the first trading day of 2007 (January 2) to date, the stock market experienced sine-shape movements. From January to March 2007, the VN-Index peaked at 1,170.67 points (March 12) after a steady rise. Then, the market was on a downtrend for the next four months to bottom out at 883.9 points on August 6. By the end of August, the market rallied and then cooled down until the year end. In total, more than 2.3 billion securities were traded at a combined value of VND193,000 billion (US$12 billion) on the Ho Chi Minh City Stock Exchange. As of end 2007, 112 companies were listed on HOSE with a listing value of over VND13,140 billion and market capitalisation … [Read more...] about Stock Market Outlook 2008: Brighter Prospects?
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Goals for developing the nation's stock market were announced yesterday during a conference held by the State Securities Commission in Hanoi. The conference coincided with Prime Minister Nguyen Tan Dung's move yesterday to order the Ministry of Finance, the Ministry of Planning and Investment and the State Bank of Vietnam to closely co-ordinate on long-term measures to secure the development of the market. One of the hightlights of his request was the need to develop new products such as global depository certificates, as well as the need to establish a derivatives market. Dung also urged the finance ministry to complete its scheme for the bond market by the second quarter of this year. "The volume of Government bonds should be increased, rather than the types of bonds, in oder to raise more funds for the economic and social needs of the State," he wrote. Dung also told the Ministry of Planning and Investment to assess the process of converting foreign-invested enterprises into … [Read more...] about Stock market regulators plan for brighter future
Challenging Time for Vietnam Stock Market: Investors Afraid of Losing Money Paying the price for the period of relentlessly opening branches, trading offices and headquarters, securities companies in Vietnam are shutting down one after another, removing fabulous signboards, even changing headquarters to avoid angry customers. In this ordeal, many investors feel puzzled when money in their accounts is at risk of being lost. Afraid of losing money There is still discussion during the last few days about an investigation into SME Securities regarding individuals who have been involved in the fraud case. The Chairman and CEO as well as Vice Chairman have all been arrested. Accordingly, many people are concerned about losing their hard-earned money, as in the case of SME, because of the relatively low transparency of the market. Mr Hung, an investor with an account at SME, said that he was lucky to finish transferring his money out when problems had just arisen at SME and thus is not … [Read more...] about Challenging Time for Vietnam Stock Market: Investors Afraid of Losing Money
Circular 36/2014/TT-NHNN: Opportunity for Stock Market to Spurt The State Bank of Vietnam (SBV) recently issued Circular 36/2014/TT-NHNN on capital adequacy and liquidity requirements for commercial banks. Circular 36 is said to have an impact on the stock market in the past few sessions. Some new regulations are more stringent, but necessary, particularly those related to bank cross-ownership. Will stock investors have the opportunity or not when Circular 36 is enacted? Approaching professionalism Mr Pham Huyen Anh, Director of Banking Operation Policy Security Department under the SBV, said Circular 36 not only amended inappropriate provisions in Circular 13 but also completed, supplemented and approached more closely to international practices and banking governance, managed and supervised banks, gradually implemented the Basel II regulations on capital adequacy at banks. Particularly, Circular 36 helps improve risk management and ensure the good control of operational quality, … [Read more...] about Circular 36/2014/TT-NHNN: Opportunity for Stock Market to Spurt
Stock Market: Waiting for Cash Flows In mid-January, investors anticipated a downward spiral in the first month of the year, opposite to the growth trend in previous years. According to statistics, in the period from 2010 to 2015, VN-Index climbed in five Januaries, except for 2010. In 2013, the measure leaped 16 per cent. Optimistic economic data, highly expected business plans of listed companies, and net buying of foreign investors at the back of New Year holidays boosted VN-Index gains in January. Vietnam’s economy is forecast to expand 6.7 per cent in 2015 after climbing 6.68 per cent in 2015 – the highest in five years. The investor sentiment was restored after foreign investors stopped net selling. The market also received other catalyst information like Purchasing Managers' Index (PMI) exceeding 50-point threshold, another drop in gasoline prices by near VND400 per litter, and the shortening of payment terms for securities trading to T+2. But after only the … [Read more...] about Stock Market: Waiting for Cash Flows