Deputy Prime Minister Vuong Dinh Hue. — Photo zing.vn The Vietnamese stock market was Southeast Asia’s most successful market in 2018 in terms of capital mobilisation, said Deputy Prime Minister Vuong Dinh Hue. In a New Year meeting held on Sunday, Hue was quoted by online news outlet zing.vn as saying that the speeding up of the equitisation process has helped Viet Nam’s IPO market lead Southeast Asia in terms of value. “With a value of US$2.6 billion, the IPO market in Viet Nam unexpectedly surpassed Singapore in IPO value ($500 million),” Hue said. The benchmark VN-Index ended 2018 at 892.54 points, lower compared to 2017. However, market capitalisation reached VND3.9 quadrillion, up 10.6 per cent. The size of the stock market increased rapidly, reaching approximately 70 per cent of the country’s Gross Domestic Product (GDP). Liquidity also rose strongly. In 2018, the average liquidity per session was VND6.5 billion, up 29 per cent compared to VND5 billion per session in 2017. Regarding listed companies, in 2018, revenue increased by 20.5 per cent while profit climbed by 25 per cent year-on-year. As for the securities companies, profit rose by 40 per cent compared to 2017. Hue said although a wave of foreign investors’ capital was withdrawn from emerging markets to shift towards the US market due to the increasing attractiveness of the US dollar, Viet Nam was still an attractive destination for foreign investors. During 2018, foreign investors net bought VND42 trillion on the Vietnamese stock market. He said that… [Read full story]
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