Small investors oppose expanding trading lot Ho Chi Minh City Stock Exchange (HOSE)’s proposal to raise the minimum trading lot to 1,000 shares is receiving mixed opinions from market experts and investors. The proposal was initiated by newly-appointed General Director of HOSE Le Hai Tra as a solution to reduce system overloads which have troubled traders recently. A 1,000 minimum trading lot will limit the participation of small investors, while the stock market is moving towards fairness and equality, said a budding investor. “My friends and I, when joining the stock market, only have a few tens to several hundreds of millions of dong, raising the minimum trading lot to 1,000 shares will directly affect our investment capacity,” said individual investor Diep. “With expensive stocks, we may have to spend hundreds of millions of dong to buy the minimum 1,000 shares,” she said. According to Diep, the stock market has never had such a chance for growth. New cash flow into the market pushed liquidity to a record high level. However, the new proposal may not only prevent new investors from entering the market but also discourage existing investors. “The plan to raise the minimum trading lot to 1,000 shares could quickly reduce the number of orders delivered daily on HOSE. However, it will cause frustration among small investors who are directly affected by the plan as they think they are not protected,” said Do Bao Ngoc, Deputy General Director of Kien Thiet Securities Vietnam (CSI). “This plan, if in place, will affect the rapid development of the stock market under the current favourable conditions, one of which is great interest from global investors,” he said. “Under the new plan, the most affected are the investors whose trading accounts have VND1 billion or less,” said Nguyen Hoang Hai, Vice Chairman of Viet Nam Association of Financial Investors (VAFI) According to VAFI statistics, investors whose trading accounts have VND500 million or less …
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VIETNAM NEWS HEADLINES MARCH 9
No new COVID-19 infections logged on March 9 morning Vietnam reported no new COVID-19 cases in the past 12 hours to 6:00 am on March 9, according to the National Steering Committee for COVID-19 Prevention and Control. The country recorded 1,586 domestically-transmitted infections, including 893 cases since the latest outbreak began on January 27. As many as 45,219 people who came in close contact with COVID-19 patients or arrived from pandemic-hit areas are under quarantine nationwide, including 506 in hospitals, 14,266 in other quarantine sites, and 30,446 at home. Among the patients under treatment, 65 have tested negative for SARS-CoV-2 once, 57 twice, and 137 thrice. The Treatment Sub-committee said that 1,920 patients have been declared to be clear of the coronavirus so far. Vietnam launched its COVID-19 vaccination programme on March 8, with healthcare workers being first in the queue. They received AstraZeneca vaccine shots, which was granted the Emergency Use Listing by the World Health Organisation for active immunisation to prevent COVID-19 in individuals aged from 18. In a bid to live safely with the pandemic, people should strictly follow the Ministry of Health’s 5K message: khau trang (facemask), khu khuan (disinfection), khoang cach (distance), khong tu tap (no gathering) and khai bao y te (health declaration)./. Dozens of illegal immigrants found in border provinces Police in the Mekong Delta province of An Giang have detected tens of Chinese citizens illegally entering Vietnam. The provincial steering committee for COVID-19 prevention and control said on March 8 that 34 illegal Chinese immigrants had been sent to concentrated quarantine facilities and tested for COVID-19. Further investigation and contact tracing are underway. Local authorities and residents were asked to stay vigilant and follow pandemic preventive measures. Earlier on March 4 and 7, police in Chau Doc city found automobiles carrying seven and 13 Chinese …
Breakfast @ Tuoi Tre News – March 9
Here are today’s leading news stories: Politics -- The second plenum of Vietnam’s 13th-tenure Party Central Committee opened in Hanoi on Monday under the chairmanship of Party General Secretary and State President Nguyen Phu Trong, during which delegates listened to the Politburo’s proposal on the completion of the nomination of candidates for a number of leadership positions. Society -- The Ministry of Health recorded no COVID-19 cases on Tuesday morning. The country’s tally stood at 2,523, with 1,920 recoveries and 35 deaths. -- Vietnam is expected to receive over four million COVID-19 vaccine doses in March and April under the COVAX scheme co-led by the World Health Organization (WHO), Kidong Park – WHO representative to Vietnam – said on Monday. -- Three beer clubs in District 11, Ho Chi Minh City are facing a fine worth VND100-300 million (US$4,330-13,000) each after being booked for making noise in a residential area and public place after 10:00 pm. -- Police in the northern province of Hai Duong confirmed on Monday they were investigating a case where a six-year-old girl was hospitalized after being brutally hit by her mother. -- Officers in the Mekong Delta city of Can Tho have arrested 20 suspects involved in a street brawl between two groups of people on March 3. Police also confiscated two guns, 12 knives, and other exhibits. -- The Ministry of Public Security on Monday arrested and initiated legal proceedings against eight members of an illegal ring that trafficked children to China. -- The Ho Chi Minh City Department of Transport has proposed the commencement of 15 key traffic projects within 2021, with capital investment totaling VND96.1 trillion ($4.1 billion). Business -- Vietnamese airlines’ on-time performance (OTP) reached 95.6 percent in the first two months of this year despite the complicated developments of the COVID-19 pandemic in several localities. -- Vietnam’s state budge revenue was estimated at …