VietNamNet Bridge - In order to be listed among top 10 stock billionaires by December 21, 2016, an individual must have stock assets of at least VND2.2 trillion, a figure higher than the total assets of many listed companies. Ten years ago, ‘the rich’ meant business people who got wealthy from trade and real estate development. When the stock market boomed in 2006, many Vietnamese began talking about a new generation of ‘super rich’ on the stock market called ‘securities godfathers’. The value of stocks held by individuals was worth up to trillions of dong, or even higher than the total assets of many enterprises in Vietnam. At the end of 2006, one needed to have assets worth VND836 billion to be added to the list of the 10 richest stock billionaires. The businessman who topped the 2006 list of richest stock billionaires was Truong Gia Binh, president of FPT, the largest domestic information technology group. FPT shares entered the bourse on … [Read more...] about How the stock market creates a super-rich class
When was stock market created
Volumes have soared on the stock market in the last few weeks, indicating that a large amount of money has been pouring in. A Ho Chi Minh City-based stock broker said the turnover has risen by up to 10 times in the last month from VND2 billion in early February. The February turnover was VND3.2 trillion, the second lowest in the last 12 months, but it skyrocketed to VND7.9 trillion in March. The general director of a securities company said investors have doubled the money they put into their accounts in the last 10 days. According to a source, one investor deposited VND400 billion (US$22.6 million) in his account in early March. At the HCM Stock Exchange (HOSE) trading volume reached a record 55.23 million on April 8 when turnover was VND1.25 trillion. Nguyen Hong Quang, deputy head of Tan Viet Securities Company's Investment Analysis Department, said stocks were available at cheap rates: "The prices of many stocks have gone down to VND20,000-25,000 … [Read more...] about Stock market attracts big bucks; signs of recovery?
Stock market targets 3% of GDP (28-01-2006) The HCM City Securities Trading Centre's managing centre. The total value of shares listed on Viet Nam's stock market is targeted to account for 3 per cent of the nation's GDP in 2006. — VNA/VNS Photo The Anh HA NOI — The total value of shares listed on Viet Nam's stock market is targeted to account for 3 per cent of the nation's Gross Domestic Product (GDP) this year, said an official from the State Securities Commission (SSC). At a press briefing held in Ha Noi on Wednesday to review stock market operations last year and development plans for 2006, SSC chairman Tran Xuan Ha said the commission submitted a draft law on securities to the National Assembly in late 2005. The Securities Law, expected to be passed at the next session of the National Assembly in mid-2006, would raise the efficiency and competitiveness of the market and enhance its capability to raise capital for development, he said. Another major task for the … [Read more...] about Stock market targets 3% of GDP
Measures To Lift The Stock Market By Dr. Nguyen Anh Tuan (*) How to get the local stock market off the ground again as proposed by an expert in the field The weaknesses of the domestic stock market can be explored from the following aspects:• The product profile; • The market profile; and• The supply-demand instability. Product profile Since its birth, the stock market has not seen a remarkable increase in its categories of products. Only the number of commodities has risen instead. By categories of products, we mean stocks, bonds, derivatives, margin trading, repo, stock lending and other accompanying financial services. The main commodities are still stocks and bonds issued by listed companies on the two stock exchanges. The limit in both product categories and commodities has both eroded the stock market’s fascination and forced participants in the market to face a dilemma. Despite their positive business results, listed companies have witnessed the decline of … [Read more...] about Measures To Lift The Stock Market
VietNamNet Bridge - Experts believe that the move by the State Bank of Vietnam to raise the interbank exchange rate by 9.3 percent will reassure people about the efficiency of the State Bank's market management, thus creating a positive impact on the stock market. Commenting on the impact of the exchange rate adjustment, the biggest since the 1997 Asian financial crisis, the analysis team of FPT Securities Company say that in short term, the move will have positive impacts on the stock market, because investors will have more Vietnam dong to make transactions. Especially, in when the stock market is reliant on foreign investors' transactions, the stabilization of the exchange rate will be important. … [Read more...] about Higher dollar will have positive impacts on stock market?