The Vietnamese stock market ended on a high Thursday with the return of foreign investors' support. VN-Index of Ho Chi Minh Stock Exchange (HoSE) rose 1.43 points, or 0.29 per cent, to 502.68 points, after falling to under 500 points during the session. The rise was helped by major stocks making significant gains. PetroVietnam Finance (PVF), FPT Corp. (FPT) and Kinh Bac City (KBC) all hit the ceiling. PetroVietnam Fertilisers added 3.69 per cent, Hoa Phat Group rose 2.65 per cent while Hoang Anh Gia Lai Group up 1.85 per cent. Eximbank (EIB) slightly rose 0.66 per cent to VND15,300 while Sacombank (STB) ended flat and Vietinbank (CTG) lost 0.43 per cent. Some of those stocks were mainly supported by foreigners, among them Hoang Anh Gia Lai Group (HAG) which was bought at nearly 500,000 units, followed by Vietcombank (VCB) at some 396,000 and PetroVietnam Fertilisers (DPM), 348,000. Hoa Phat Group (HPG), Itaco (ITA), FPT Corp. (FPT), Sai Gon Securities Inc. (SSI) were … [Read more...] about Foreign investors help lift Stock Market
Help with stock market
At the ongoing National Assembly sessions, the country's legislators are putting renewed focus on how to help the stock market rebound and control inflation. Minister of Finance Vu Van Ninh spoke tabout the issue. Which measures will the Government take to help the stock market rebound?We have submitted many solution proposals to the Government, but official approval is still pending.Are you optimistic about the future development of the stock market?The growth of the stock market reflects the national economic development. Personally, I think the current stock market difficulties are only temporary. In the long run, the stock market will have many opportunities for further development. Many international financial corporations feel similarly.A matter of great concern stems from the fact that investors on the local market are unprofessional, and their fickleness affects the market. We should calm down and analyse businesses' results. As far as I know, recently … [Read more...] about Finance minister sees success for stock market
Vietnam's stock market has travelled a bumpy road during its 12-year lifetime. Minister of Finance Vuong Dinh Hue told VIR's Huu Hoe that the Ministry of Finance (MoF) and State Securities Commission (SSC) were focusing on restructuring the stock market to improve its efficiency. What are the major achievements of Vietnam's stock market? After 12 years, Vietnam's stock market has seen many achievements. During 2000-2005, the stock market's capitalisation to gross domestic product (GDP) ratio was around 1 per cent only, but this ratio reached 47 per cent in 2007 and more than 30 per cent in recent years. Within 12 years, the stock market has mobilised around VND650,000 billion ($31.2 billion), in which VND550,000 ($26.4 billion) was mobilised since 2005. The number of listed firms has continuously increased from only two companies to 705 companies now. The size of listed companies is constantly expanding, while many giant companies, banks and corporations are formed by raising … [Read more...] about MoF’s tool box to fix stock markets
The upcoming listing of more shares will benefit investors in the long term but for now it will lead to a glut that may hurt the market, analysts warn. Investors should avoid trading until cash flow to the market improves, securities companies said … [Read more...] about Increased supply could hurt stock market, analysts warn
VietNamNet Bridge – High tax is believed to be the main reason that makes securities investment funds unable to develop in Vietnam. Though the draft circular stipulating the tax policies for securities investments offers a lot of tax incentives, it still has not satisfied securities investors. Securities’ associations believe that more preferences should be offered in order to recover the stock market. Secretary General of the Vietnam Association of Financial Investors (VAFI) Nguyen Hoang Hai said that in other countries in the world, stock market is considered the leading business field of the national economies, while fund management is the key channel that provides capital to the economies. Therefore, the countries offer attractive tax incentives to create most favorable conditions for securities funds, fund management companies to develop. Also according to Hai, in the economies, the transactions carried out by securities investment funds always account for 30-50 … [Read more...] about More tax incentives will help revive stock market?