VietNamNet Bridge - Vietnam plans to list 10 banks on the stock market this year, but only four have implemented the listing so far. Others are still consulting with shareholders. Banks have to list shares on the bourse Under a Ministry of Finance decision, all 730 equitized enterprises with more than 100 shareholders will have to list their shares on the bourse this year. These include 10 commercial banks, namely OCB, ABBank, Techcombank, Nam A Bank, Maritime Bank, Viet A Bank, TP Bank, SeABank, HD Bank and LienVietPost Bank. The banks have mentioned the listing, but later canceled plans for different reasons. In April, shareholders of many banks approved plans to list on the bourse. But to date, only four of them have fulfilled the plans. VIB Bank has listed 564 million shares on UpCom since January 9, but plans to shift to the HCMC bourse (HOSE) next year. Kien Long Bank listed 300 million shares on UpCom on June 29. Vietnam plans to list 10 banks on the stock … [Read more...] about Banks plan to list on stock market, but progress slow
Stock market
Green colour dominates stock market as April starts
Investors watch stock price changes at the Vietcombank Securities Company (Photo: VNA) Hanoi (VNA) – The stock market started the first week of April with green colour dominating large-cap stocks and those in banking and real estate in both bourses. The benchmark VN-Index picked up 22.15 points to close at 1,196.61 points on April 2, the highest since the stock market of Vietnam was launched, when more than 245.7 million shares were sold for about 8.04 trillion VND (353 million USD) on the HCM Stock Exchange (HOSE). The bourse saw gaining stocks outnumbered the declining ones by 155 to 140 while 42 others ended flat. On the Hanoi Stock Exchange (HNX), the HNX-Index edged up 2.94 points, closing at 135.40 points after some 52 million of shares, worth 937.5 billion VND (41.15 million USD), were traded on the bourse. There were 72 gainers and 77 losers while 62 others ended flat. The large-cap stocks experienced strong gains with the VN30 advancing 18.13 points. Among 20 … [Read more...] about Green colour dominates stock market as April starts
Vietnamese stock market breaks 11-year record
Vietnam shares scaled a record high on Monday on the back of gains in financials and real estate stocks, while most other Southeast Asian markets started April on a sombre note. The benchmark Vietnam index rose as much as 1.1 percent to an all-time high of 1,187.55, and has risen more than 20 percent so far this year following a 48 percent gain last year. Real estate firm Vingroup JSC climbed as much as 1.8 percent to a new high and was the biggest contributor to the main index's gain. On March 22, Vietnam's stock market rose by 0.92 percent y to close at more than 1,180 points, the highest since the record of 1.179 points set in 2007. Philippine shares were little changed in choppy trade with financials being the top losers. The decline in the financials was due to the pricing of the rights issue of Bank of the Philippine Islands, said Eagle Equities President Joseph Roxas. Bank of the Philippine Islands priced its rights issue at 89.5 pesos per share, a 23.5 percent discount to … [Read more...] about Vietnamese stock market breaks 11-year record
Stock market thrives, expectations soar for “emerging market” status
VietNamNet Bridge - The VN Index has been increasing sharply since the beginning of the year with capital flowing to finance and banking, real estate, and shares with a high capitalization value. The VN Index has been increasing since the beginning of the year Last June, Vietnam missed the opportunity to be added to MSCI’s (Morgan Stanley Capital International) list of emerging markets in its assessment period. Three market rating agencies, namely MSCI, FTSE Russell, S&P Dow Jones, give annual periodic assessments. The assessment is based on economic development level, political stability, market size and liquidity, market operation efficiency, market access of foreign investors and capital flow capability. With the sharp price increases in 2017 and the strong rise this year, coupled with lifting of the foreign ownership ceiling and state’s divestment from state-owned enterprises, Vietnam now can satisfy requirements in market scale and liquidity. … [Read more...] about Stock market thrives, expectations soar for “emerging market” status
Stock market capitalization equivalent to 79.3 percent GDP
Last year, the Vietnamese stock market capitalization was VND3,500 trillion (US$154 billion) increasing 80.5 percent over 2016 and accounting for 70.2 percent GDP in 2017. According to the Ministry of Finance, in February this year the VN-Index increased 13.9 percent over the end of 2017, exceeding 1,121 points. The market liquidity also strongly hiked. Since early this year to February, total transaction value averaged over VND19.5 trillion a session, up 38 percent over 2017. Of these, stake transaction value topped VND9 trillion a session, raising 79 percent compared to the average growth rate last year. After topping ten year high to reach 1,130 points on the previous session, the VN-Index continued increasing 4.78 points to 1,138.09 points on March 14 with 147 stocks gaining, 142 declining and 66 unchanged. Closing the morning session in Hanoi, the HNX-Index was up 0.77 point to 130.43 points with 90 stocks up, 83 down and 212 trading water. Total market transaction value neared … [Read more...] about Stock market capitalization equivalent to 79.3 percent GDP