The Hanoi Stock Exchange (HNX), together with the Ho Chi Minh Stock Exchange (HoSE), will become subsidiaries of the Vietnam Stock Exchange (VNX). (Photo: cafef.vn)_ Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has signed Decision37/2020/QD-TTg on the establishment of the Vietnam Stock Exchange (VNX), withthe aim of unifying the stock market and ensuring efficient, fair, open andtransparent activities.
The VNX, having chartered capitalof 3 trillion VND (130.2 million USD), will be headquartered in the capitalcity of Hanoi and operate as a one-member limited liability company whollyowned by the State. The Ministry of Finance will be the representative of Statecapital.
The Hanoi Stock Exchange (HNX)and the Ho Chi Minh Stock Exchange (HoSE) will become its subsidiaries, with100 percent of capital invested by the VNX, but will both operate independently.
A gauge of Vietnamese stocksclimbed on December 28 following the encouraging news.
The benchmark VN-Index on HoSEgained 0.64 percent to end December 28's session at 1,091.33 points. The indexhad gained 1.59 percent last week.
Nearly 723.9 million shares weretraded on the southern bourse on the day, worth 14.6 trillion VND.
The large-cap tracker VN30-Indexwas up 0.20 percent to 1,054.23 points.
Fourteen of the 30 large-capstocks in the VN30 basket increased while 13 declined.
“VN-Index continued its rally formost of the session and is now back over 1,090 points,” said BIDV SecuritiesCo.
“Foreign investors were netsellers on both HoSE and HNX. Besides, market breadth was positive andliquidity increased compared to the previous session.
“According to our assessment, theVN-Index may still move towards the threshold of 1,100 points in the comingsessions,” it said.
Foreigners net sold 348.21billion VND on HoSE, including Hoa Phat Group (HPG) with 85 billion VND,Military Bank (MBB) with 64.7 billion VND and Vincom Retail (VRE) with 60.1billion VND. They were net sellers on the HNX with a value of 25.1 billion VND.
Nineteen out of 25 sector indiceson the stock market gained ground, including logistics, wholesale, real estate,IT, energy, securities, healthcare, construction materials, insurance, bankingand rubber production
On the opposite side, losers werefood and beverage, seafood processing, retail and construction.
A number of blue-chips attractedcash flow such as insurer Bao Viet Holdings (BVH), steel maker Hoa Phat Group(HPG), Vietnam National Petroleum Group (PLX), Phu Nhuan Jewelry (PNJ)and Vinhomes (VHM).
On the Hanoi Stock Exchange, theHNX-Index climbed 2.14 percent to 196.57 points.
Nearly 165.4 million shares weretraded on the northern market, worth 2.3 trillion VND./.
VNA
