Stock market capitalisation hits record high
Hanoi
(VNA) – The stock market capitalization reached 2,260 trillion VND (101 billion
USD), equal to 50.3 percent of the national GDP, up 16 percent from the end of
2016 and is the highest-ever level since the market began operation.
Vu Bang,
Chairman of the State Securities Commission, released the information at a news
conference on March 9.
As of March 6,
the VN Index stood at 716.29 points, the highest level in the past 10 years and
up 7.7 percent from the end of 2016. Meanwhile, the HNX Index was at 86.55
points, an increase of 8 percent.
At the end of
February, a total of 708 stocks and fund certificates were listed on the two
stock exchanges and 485 stocks were traded on the UPCoM market with the total listed
value reaching nearly 778 trillion VND (35 billion USD), up 7 percent from the
end of 2016.
The market
liquidation has improved with the average transaction value of 7.365 trillion
VND each session, up 49 percent from the same period last year and 6.6 percent
compared with the average level of 2016.
In the first two
months of 2017, the capital mobilization on the stock market reached 40.7
trillion VND (1.8 billion USD), a year-on-year reduction of 27 percent but the
capital mobilization in February increased 79 percent from that of January.
Relating to new
products like derivatives, the SSC chairman said the legal framework for the
derivative market has been basically put in place and guidelines on listing,
transacting, membership, and clearing have been completed by the HNX and the
Vietnam Securities Depository (VSD).
VSD Deputy
General Director Duong Ngoc Tuan said about 10 companies have met requirements
to join the derivative market.
Chairman Vu Bang
also noted that after some investment funds withdrew capital from Vietnam in
the last months of 2016 due to expectations of Fed raising interest rate and
the US dollar gaining value, since early this year, foreign investors have
bought 1.545 trillion VND (69 million USD) worth of shares and fund
certificates and 5.960 trillion VND (267 million USD) worth of bonds.
In the first
month of 2017, the total portfolio value of foreign investors reached 18.4
billion USD, the highest-ever level.-VNA