The Vietnam Securities Depository Agency said Tuesday that it issued licenses to 20 new foreign institutional investors in December to trade local stocks, raising the total number to 1,149. During the period, 125 foreign individuals also received permission to trade, increasing the total number to 12,429, the VSD said on its Web site. Vietnam's share index, or VNindex, rose 56.8% in 2009, compared with a 66% fall in 2008. The Hochiminh Stock Exchange had a total market capitalization of VND494.1 trillion ($26.7 billion) at the end of 2009. … [Read more...] about Vietnam adds 20 foreign institutional investors in December
Foreign institutional investor
Foreign stock investors increase buying
Foreign stock investors increase buying By Thanh Thuong - The Saigon Times Daily HCMC - Foreign stock investors as of last Thursday had placed buying orders for the 20th successive session while many local investors increased stock sales in the gloomy trading atmosphere of the stock market. Nguyen Ho Nam, general director of Sacombank Securities Co., said the company had opened many new accounts for overseas investors. Around 90% of domestic investors disbursed money for stocks in May but the number has dropped sharply. Meanwhile, more institutional investors have joined the market, he said. Nam said that the local stock market was in a period of stable development as many listed firms have posted good business results. The economy also showed signs of recovery last month. Nguyen Mien Tuan, general director of Viet Dragon Securities Corporation, said the economy was showing signs of recovery and foreign investors, most of them being investment funds in Vietnam, thought it a good … [Read more...] about Foreign stock investors increase buying
Foreign strategic investors still bullish on local banks
Foreign strategic investors still bullish on local banks (23-05-2008) HA NOI — Overseas financial institutions are increasing their stakes in domestic commercial banks even as shares in these banks have underperformed, following the overall downward trend of the nation's stock market. Earlier this year, London-based Standard Chartered increased its stake in Asia Commercial Bank to the 15-per-cent maximum that a foreign strategic investor is allowed by law to hold. Meanwhile, Singapore's OCBC is obtaining regulatory approval for its acquisition of 15 per cent of Viet Nam's VPBank. Most recently, the State Bank of Viet Nam granted special approval to Eximbank to sell 25 per cent of its shares to four foreign strategic investors, including Japan-based Sumimoto Bank. "Not counting the credit problem which your domestic banks are facing, the banking sector in Viet Nam has many opportunities to develop more strongly in the future," said John Nolan, an analyst with a HCM City fund … [Read more...] about Foreign strategic investors still bullish on local banks
Institutional investors push VN-Index
The VN-Index preserved its uptrend to end May 11’s session at 372.95, increasing by 1.84 percent, on the track of active anticipation from foreigners and institutional investors. Total turnover for the day reached 1.25 trillion VND (70.2 million USD) from 40.93 million shares; foreigners contributed 7.1 million shares to the market volume. “Institutional investors are continuing to inject money into the market, helping maintain the market uptrend into this week,” said Ngo Van Minh, an analyst from EuroCapital Securities. Last week, institutional investors were buying up a lot of blue-chip stocks, but the money they pumped in remained moderate, Minh said. “In addition, many other institutions last week did not start buying, but it is believed they will join in the action soon.” However, with more institutions preferring blue-chip stocks, the market will see a clearer division of shares this week, Minh said. From early May to May 8, foreigners’ … [Read more...] about Institutional investors push VN-Index
Foreign institutions concerned about draft bank law
Foreign institutions concerned about draft bank law By Hong Phuc - The Saigon Times Daily HANOI - Foreign banks have expressed deep concern about a provision on credit limits in the draft amendments to the law on credit organizations. The current regulations are fairly lax as foreign bank branches can maintain loans for a customer and a related party at a level based on the offshore parent bank's equity capital. Speaking at a seminar on the law on credit organizations and that on the State Bank of Vietnam, Akihiro Saito, general director of the Hanoi branch of Japan's Mizuho Corporate Bank, said he was worried about Article 128 of the draft law on credit institutions. He proposed the Government maintain the status quo; otherwise, foreign banks will have to either slash credit for customers or scale up capital to meet the new capital requirement. "In case foreign bank branches are unable to increase capital, then they will have to cut loans for many customers," he said. "It'll be … [Read more...] about Foreign institutions concerned about draft bank law