Illustrative image (Source: VNA)
HCM City (VNA) – The Ho Chi Minh City Stock Exchange (HOSE) formally announced its Global Industry Classification Standards (GICS) on January 25.

GICS is an international standard developed by MSCI (Morgan Stanley Capital Investments) and S&P Dow Jones Indexes to provide an effective, detailed and flexible tool for investors to record rapid changes in separate fields.

It is used by most stock exchanges as well as index research institutions around the world.

Nowadays, more than 43,000 companies and 50,000 stocks worldwide are classified based on GICS, accounting for about 95 percent of international market capitalisation.

In addition, up to 9.6 trillion USD in stocks are benchmarked to the MSCI indexes and all use GICS.

Deputy Director of the HOSE Tran Anh Dao said the application of the GICS will help the Vietnamese stock market become more global.

This will enable investors, especially foreign ones, to enter Vietnam and diversify their investment projects.-VNA