Vietnamplus

Strong individual purchasing power has been the key to the strong rebound of the Vietnamese stock market this year after it was hit twice by the COVID-19 outbreaks.

Many Chinese funds are pouring capital into the Vietnamese stock market because of low valuations and further loosening of foreign ownership in the near future.

The domestic exchange-traded fund VFMVN Diamond (HoSE: FUEVFVNĐ) on September 8 issued an additional 300,000 certificates to raise the total amount of certificates to 148.3 million.

The People’s Committee of Ho Chi Minh City has asked for the Government’s support of its scheme to make the city a regional and international financial hub.

After 20 years of establishment and development, the Vietnamese stock market has overcome many ups and downs to get the current scale, which is a considerable achievement.

The State Securities Commission was established on November 28, 1996 in line with Decree No. 75/1996/ND-CP of the Government. The Ho Chi Minh City Securities Trading Centre was formed in accordance with a decision dated July 11, 1998.

Vietnam has been successfully developed a stock market, with the capital market playing a critical role in the economy, according to Dominic Scriven, Chairman of Dragon Capital, one of Vietnam’s leading investment firms.

A group of investors led by US-based private equity firm KKR, including Temasek Holding of Singapore, invested 15.1 trillion VND (650 million USD) in a stake of the Vinhomes Joint Stock Company (Vinhomes).

The recent interest rate cuts by the State Bank of Vietnam (SBV) have little impact on the Vietnamese stock market, analysts have said.

The State Securities Commission (SSC) will soon launch an electronic one-stop information disclosure system for the stock market, news site tinnhanhchungkhoan has reported.

The Ministry of Finance has cut the fees of nine securities services and exempted fees for six others as from March 19 as part of efforts to support the stock market amid the negative impact of the COVID-19 epidemic.

The Ministry of Finance has agreed in principle to reduce prices of some securities services to support the Vietnamese stock market, which has been in downfall since the COVID-19 outbreak.

Private-equity bank shares have performed well amid fears of COVID-19 in the last five weeks.

The Vietnamese stock market had a tough time throughout February with most stocks weakening amid concern about the global spread of the coronavirus disease(COVID-19).

Margin lending may be allowed on the Unlisted Pubic Company Market (UPCoM), the State Securities Commission (SSC) vice chairman Pham Hong Son has said.

To stabilise investor sentiment after the Lunar New Year holiday, the Ministry of Finance has directed the State Securities Commission to closely monitor the market and crack down on the use of negative information about the coronavirus epidemic to manipulate stock prices.

The Ho Chi Minh Stock Exchange (HOSE) has received dozens of documents from listed companies asking to extend the deadline for the disclosure of this year's financial statements.

It may take Vietnam two years to get upgraded to emerging market level from the current frontier market classification, VNDirect Securities Corporation said in its 2020 outlook.

The number of investors opening new accounts in 2019 fell from the previous year, according to the Vietnam Securities Depository (VSD).

Foreign investors have poured around 36.4 billion USD into the Vietnamese stock market by the end of 2019, a rise of 11.6 percent from a year earlier, according to the State Securities Commission (SSC).