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
Which days is the stock market closed
VietNamNet Bridge - Experts believe that the most important factor that may have a negative impact on the stock market is the exchange rate fluctuation. After the crude oil price in the world market dropped to $40 per barrel following OPEC’s meeting in early December, securities investors have predicted a gloomy future for oil & gas shares, including GAS of the Gas Corporation. To date, GAS remains among the shares with the highest capitalization value in the market which has influences on the VN Index. With the closing price at VND40,300 per share on December 4, its capitalization value has dropped to $3.39 billion, just equal to 1/3 of that in July 2014, when the GAS market price climbed to VND120,000 per share. The shares of the companies in the energy sector are believed to top the list of factors which have negative impact on the stock market in 2016. By December 4, the VN Index has increased by 8.5 percent, but the dong was devalued by 5 percent. Another factor … [Read more...] about How will the stock market perform in 2016?
The stock market night before Christmas (25-12-2007) Investors watch an electronic stock market display at the Bao Viet Securities in Ha Noi. — VNS Photo Viet Thanh HA NOI — It was the night before Christmas and all through the stock exchange, not an investor was stirring, not even a mouse. The market fell 0.45 per cent without a sound to close at 930.86. Turnover came down the chimney with a bound, at VND552.46 billion (US$34.5 million), with over 5.89 million shares traded. The large caps were snuggled all warm in their beds, most losing points yesterday. Suddenly, on the roof, there arose such a clatter, that brokers sprang from their beds to see what was the matter. On Binh Dinh Minerals (BMC), down 0.9 per cent to VND332,000. On PetroVietnam Drilling (PVD), down 1.3 per cent to VND154,000. "The fall was due to the postponing of trading from the foreign sector, which contributes 30 per cent of trading value in the market," said Bien Viet Securities deputy … [Read more...] about The stock market night before Christmas
Capital flow turns back to stock market By Thuy Trieu - The Saigon Times Daily HCMC - Good first-half results appear to have brought capital back to the market as average daily trading value last week was nearly double the previous week while the VN-Index ended the week up 12.05 points, or 2.65%, at 466.76. The market's average daily trading volume was 46 million shares worth VND1.72 trillion, increasing 76.7% and 91.5% respectively from the session earlier. Closing the week, 64 stocks increased and 94 fell. Foreigners were heavy net buyers last week buying shares of financial service providers and banks. Their net buying volume was over 10 million shares worth VND582.6 billion, rising 29% and 55% respectively from the previous week. Ngo Thanh Phat, head of the analysis department of Vietnam International Securities Co. (VIS), said that when both the global and local economies had positive movements, high expectations on blue-chip shares such as the finance sector were not strange. In … [Read more...] about Capital flow turns back to stock market
VietNamNet Bridge - While securities investors feel depressed about the continued fall of the VN Index, and experts have urged the management agencies to take action to rescue the stock market, the State Securities Commission (SSC) does not think that it is necessary to intervene in the market at this moment. Nguyen Thanh Ky, Secretary General of the Vietnam Association of Securities Business VASB on May 25, said that VASB has sent proposals to the competent agencies, asking to take necessary measures to rescue the stock market. However, SSC will have to keep a close watch over the market performance for some more trading sessions before making final decision on whether to take actions. … [Read more...] about SSC says no action needed to rescue stock market now