Foreign investors net bought 1.642 trillion VND (70.33 million USD) worth of shares on the Unlisted Public Company Market (UPCoM) in the first six months of this year.
Market capitalisation on the Ho Chi Minh Stock Exchange (HOSE) rose more than 42 percent year-on-year to 5.8 quadrillion VND (254.83 billion USD) by the end of 2021, accounting for 92.77 percent of the previous year’s GDP.
The number of accounts owned by foreign individuals and organisations in Vietnam’s stock market had hit more than 38,000 as of September 2021, a year-on-year surge of 34.7 percent.
Vietnam’s stock market mobilised total capital of 292.1 trillion VND (12.8 billion USD) in the first nine months of this year, up 12 percent compared to the previous year.
The market capitalisation of Axie Infinity, a blockchain-based trading and battling online video game developed by a Vietnamese studio, currently stands at 2.5 billion USD with about 61 million AXS traded.
The Technological and Commercial Joint Stock Bank (Techcombank) aims to become the leading bank not only in Vietnam but also in the Top 10 in ASEAN, with a market capitalisation of 20 billion USD in the next five years.
Vietnam’s stock market capitalisation on Ho Chi Minh Stock Exchange (HOSE) as of March 31 skyrocketed 93.56 percent year-on-year to more than 4.46 quadrillion VND (193.72 billion USD), HOSE said.
Indonesian President Joko Widodo on February 1 inaugurated state-owned sharia bank Bank Syariah Indonesia (BSI), which had total assets of 240 trillion IDR (17 billion USD) and ranked seventh on the list of biggest banks in Indonesia based on total assets.
Banks are sprinting to transfer the listing of shares from Unlisted Public Company Market (UpCom) to official bourses before the Law on Securities takes effect from the beginning of 2021, which would require two-year listing on UpCom before a public company could go to official bourses.
Forty of the largest companies by market capitalisation posted a 15 percent annual decline in total pre-tax profit, which fell to 162.8 trillion VND (7.02 billion USD) in January-September.
The Ho Chi Minh Stock Exchange (HoSE)’s pre-tax profits increased 19 percent year-on-year in the first six months to 238 billion VND (10.3 million USD).
The Government’s Decree 81, which comes into effect on September 1, will help raise the corporate bond market standards and remove low-quality issuers to better protect investors.
A ceremony was held in HCM City on July 20 in the presence of Prime Minister Nguyen Xuan Phuc to mark the 20th anniversary of Vietnam’s stock market and the Ho Chi Minh Stock Exchange (HoSE).
Vietnam should loosen restrictions on foreign ownership and encourage entrepreneurship in new and revolutionary industries to attract foreign capital, said experts.
The PetroVietnam Gas Joint Stock Corporation (PV GAS) has been named in the list of the top 50 listed companies 2020 by Forbes Vietnam for the eighth consecutive year.
The COVID-19 pandemic has had significant impacts on the stock market, with all indexes on the Ho Chi Minh City Stock Exchange (HOSE) falling sharply in March.
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