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 BUSINESS NEWS MARCH 9
Shares cut early gains to end lower as bank stocks decline Vietnamese shares trimmed early gains on Monday with the VN-Index closing lower as banking stocks came under selling pressure towards the final minutes of trading. The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged down 0.04 per cent to close at 1,168.27 points. It had risen 0.02 per cent last week. More than 652.7 million shares were traded on the southern bourse, worth VND15.6 trillion (US$673.9 million). Market breadth was positive with 274 gaining stocks and 183 losers. After the lunch break, the market fluctuated in a quite negative direction as many banking stocks dropped sharply and pushed the VN-Index down to the reference level. Asia Commercial Bank (ACB) fell 2 per cent to VND31,800 per share, VPBank (VPB) lost by 1.1 per cent to VND41,350 per share, Vietcombank (VCB) declined by 1.5 per cent to VND95,200 per share and Techcombank (TCB) dropped by 0.9 per cent to VND38,850 per share. On the opposite side, the oil and gas sector increased, becoming one of the best-performing sectors in Viet Nam on Monday, data on vietstock.vn showed. Vietnamese oil and gas stocks grew well, including PetroVietnam Gas JSC (GAS), Viet Nam National Petroleum Group (PLX), PetroVietnam Drilling & Well Services Corporation (PVD), PetroVietnam Power Corp (POW), and PetroVietnam Technical Services (PVS). “The market was moving sideways around 1,168 points. Liquidity increased slightly from the previous session and market breadth was positive, showing that investment cash flow is spreading,” said BIDV Securities Co. “Foreigners were net sellers on both HoSE and HNX. The VN-Index is likely to consolidate in the range of 1,160-1,200 points in the coming sessions,” said the company. Foreign investors net sold VND1.25 trillion on HOSE, including PVPower (POW) (VND212.8 billion), Vinamilk (VNM) (VND203.9 billion) and Hoa Phat Group (HPG) (VND171.5 billion). Foreigners were net sellers on …
Saint-Gobain named top 100 creative business
Saint-Gobain has been named one of the 100 most innovative businesses globally by Clarivate. — VNS Photo Saint-Gobain has been named one of the 100 most innovative businesses globally by Clarivate. This is the 10th consecutive year that the company has achieved that ranking, which is based on the criteria of the total number of patents, the patent success rate, and the global legal effort of the patents filed. Benoit Bazin, CEO of Saint-Gobain, said: “Saint-Gobain constantly innovates itself to serve customers and meet social expectations. In highly competitive and rapidly changing market situations, innovation is more than ever at the heart of our strategy." In 2020, despite facing a global pandemic, the corporation with 3,600 research experts has invested 428 million euros (US$508 million) in research and development activities. Each year, more than 400 patents are submitted in order to reinforce the group's leading position in the market. Saint-Gobain has eight globally multi-functional research and development centers. These eight centers include three centers in France and five others in Brazil, China, Germany, India and the United States, providing a wide range of expertise in materials and science. Group innovation is conceived in an open way through a co-development approach with customers and suppliers, and through startups and academic partnerships. Saint-Gobain Vietnam belongs to Saint-Gobain Group founded by King Louis XIV in 1665 with the first project to provide glass for the castle of Versailles in France. Saint-Gobain Vietnam offers a wide range of leading products and services to Viet Nam's construction industry. The main brands include Gyproc and Vinh Tuong, providing innovative solutions for ceiling and plaster walls; and DURAflex offers excellent solutions for wet areas. In addition, it also has the Weber brand that provides solutions for tile adhesives, grout and waterproof products. — VNS …
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