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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A new chapter in US-EU relations
Leaders of the European Union (EU) are hoping that trans-Atlantic relations will “turn to a new page” during Joe Biden’s presidential term. Over recent decades, the EU and the US have fostered close ties in terms of culture, history, business and defence, but during his tenure, former US President Donald Trump introduced policies “standing outside of the EU” on many international issues, as well as supporting the United Kingdom’s departure from the “European common roof”. Accordingly, the trans-Atlantic relationship between the EU and the US was quite cold and even saw contradictions and tensions at times. However, bilateral ties currently have the prospect of “turning to a new page” with Joe Biden having been sworn in as the 46 th US President. US media reported that as soon as taking over the “hot seat” at the White House, President Joe Biden signed 15 decrees aimed at dealing with existing problems such as the COVID-19 pandemic, climate change and ethnic inequality. The new US President has overturned some of his predecessor’s policies, including those that had once led to US-EU tensions such as the US withdrawal from the Paris Agreement on climate change. Therefore, Biden’s move is seen as a start of a process of bringing the US back to the accord. In addition, his decision to revoke a presidential permit for the Keystone XL oil pipeline also received applause from European leaders. EU officials have expressed hope and confidence that the trans-Atlantic relationship will recover again in the near future. Immediately after the presidential inauguration, EU leaders extended many “positive words” to the new US President enclosed with a belief in a brighter trans-Atlantic relationship in the time ahead. In his video message, German President Frank-Walter Steinmeier emphasised: “We look forward to having the US as a vital partner at our side again on many fronts: as we fight the COVID-19 pandemic together in a spirit of solidarity, tackle climate change at …
State budget revenue up in first two months
Illustrative image (Photo: VNA) Hanoi (VNA) - State budget collection s were estimated at 286.7 trillion VND (12.4 billion USD) during January and February, or 21.3 percent of the annual estimate and up 0.6 percent year-on-year, the Ministry of Finance reported on March 8. After conducting 3,400 inspections and checking 16,500 corporate tax filings, tax agencies proposed 3.4 trillion VND in fines be imposed, including 780 billion VND for the State budget. Some 345 billion VND has been collected, together with 5.1 trillion VND in tax debts. Some 12,760 tonnes of rice from the national reserve were provided for residents in disaster-hit areas. Up to 27 trillion VND worth of Government bonds were issued. VNA …
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