Vietnam will let the stock exchange adjust itself naturally rather than take administrative measures to directly interfere with it although the market is experiencing an overheated development, the head of the State Securities Commission (SSC) said. "Experiences from other countries, whose stock markets have also undergone similar development periods, indicated that using administrative measures to directly interfere with the securities markets is very difficult," SSC President Vu Bang told a recent meeting held in Ha Noi by the International Economic-Cultural Exchange Club. According to Bang, various indirect solutions have been applied recently by the Government, the SSC, ministries and relevant agencies to help stabilise the stock exchange. They included a decision by the State Bank of Viet Nam (SBV) to ban commercial banks from pouring capital into their subsidiary securities companies, Bang said. He added that the decision was considered efficient to help cool the overheated … [Read more...] about No administrative measures to interfere with stock exchange
Help with stocks
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
Benchmark indices were back in positive territory on July 20, following the previous session during which the volume of trades dropped to the lowest level in two years. On the HCM Stock Exchange, the VN-Index closed at 416.77, a gain of 1.6 percent, while the value of trades spiked by 46 percent over the previous session to 400.6 billion VND (19.4 million USD). Volume was 21.4 million shares, an increase of 28 percent. Advancers outnumbered decliners during yesterday's session by 146-70. The's rebound could have been caused by speculation in low-priced shares, while a number of analysts believed that the sharp rise in gold prices in the past few days had made some investors think twice about investing in gold. Among the 10 leading shares by capitalisation, eight posted gains, with Vietinbank (CTG), software giant FPT, property developer Hoang Anh Gia Lai (HAG) and PetroVietnam Finance (PVF) all hitting their ceiling prices. Bac Giang Exploitable Minerals Co (BGM), which listed … [Read more...] about Price gold helps revive stocks
In Briefs (26-02-2008) Gov't e-commerce portal helps with deals HCM CITY — The Government's e-commerce portal helped 19 per cent of its members clinch significant deals with foreign partners after five years of operation, the Ministry of Trade and Industry said. Among the portal's 4,000 members, nearly 1,000 are foreign companies and hundreds of others are prestigious exporters recognised by the ministry for their excellent performance over the past three years. Viet Nam to host Asian Bankers' Summit HA NOI — The Asian Bankers' Summit 2008 will be held in Ha Noi from March 16 to 19, according to the Viet Nam Bankers' Association. The annual event has convened since 2000 and is expected to draw around 500 bank managers from Asia, Oceania and the Middle East. Metz to build cement plant in Quang Tri QUANG TRI — Germany's Metz Group will build a 2 million-tonne cement plant in the central province of Quang Tri. A memorandum of understanding (MoU) was signed between the … [Read more...] about Gov’t e-commerce portal helps with deals
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?