Business

Stock market capitalisation equals to 34 percent of GDP

The capitalization of Vietnam’s stock market was estimated at more than 1,325 trillion VND (58.8 billion USD), equal to 34 percent of the country’s Gross Domestic Products (GDP), this year.
Stock market capitalisation equals to 34 percent of GDP ảnh 1 Investors at Hanoi Stock Exchange (Source: VNA)


Hanoi (VNA) - The capitalization of Vietnam’s stock market was estimated at more than 1,325 trillion VND (58.8 billion USD), equal to 34 percent of the country’s Gross Domestic Products (GDP), this year.

Chairman of the State Securities Commission (SSC) Vu Bang made a statement at a recent conference to review the SSC performance in 2015 and plans for 2016.

Despite fluctuations in the global market, Vietnam’s stock market remained quite stable during this year. It was seen as an attractive destination for foreign capital inflows in the region, he said.

According to the SSC, Vietnam has had 47 newly-listed companies so far this year while 33 other companies have been delisted. As of December, more than 680 stocks and fund certificates were listed on the two bourses in Hanoi and Ho Chi Minh City with a total market value of approximately 528 trillion VND (23.42 billion USD), up 24 percent year on year.

Newly-registered shares on the Unlisted Public Company Market (UPCoM) doubled last year’s figure to 72 this year. It has brought up the number of stocks traded on UPCoM to 243, worth 47.6 trillion VND (2.1 billion USD), a year on year increase of 97 percent.

Investor accounts amounted to about 1.5 million in 2015, up 7 percent.

Speaking at the conference, Deputy Finance Minister Tran Xuan Ha said the SSC should continue restructuring the domestic stock market and improve its legal framework, while closely monitoring the stock market.-VNA

VNA
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