Vietnam’s stock market capitalisation reaches 79.2 percent of GDP
Wednesday, September 12,2018AsemconnectVietnam - Vietnam’s stock market capitalisation increased 13 percent against the end of last year, reaching nearly 3.97 quadrillion VND (169.5 billion USD) by the end of August.
This value was equivalent to 79.2 percent of the country’s gross domestic product (GDP), according to the Ministry of Finance.
Stock indices on the two national stock exchanges increased in August after treading water in July.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose by nearly 4 percent, ending August 31 at 989.54 points. However, it decreased slightly by 0.6 percent compared to December 31, 2017.
On the Hanoi Stock Exchange, the HNX-Index grew by 5.6 percent to end the month at 112.79 points. The northern market index fell over 6 percent against last year.
“Although the VN-Index recovered well in August, we notice that capital flows did not increase significantly but mainly rotated among different sectors. Therefore, if there is no sudden increase in capital flows, it will be difficult for the market to move higher,” said Bernard Lapointe, head of research at Viet Dragon Securities, in the company’s investment strategy for September.
Meanwhile, Lapointe said foreign flows will likely be limited following the trend of moving out of frontier and emerging markets.
Besides, the US Federal Reserve (Fed) will likely raise interest rates by the end of September, which is not supportive for equities.
Vietnam’s Ministry of Finance earlier this month requested authorities including the State Securities Commission to complete the draft revised Law on Securities, as well we guiding documents to implement Decree No. 60/2015/ND-CP, which amends and supplements some articles of the securities law.
The ministry also directed relevant authorities to finalise the scheme on restructuring the securities and insurance markets in the 2017-20 period.
Source: Vietnamplus.vn Stock indices on the two national stock exchanges increased in August after treading water in July.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose by nearly 4 percent, ending August 31 at 989.54 points. However, it decreased slightly by 0.6 percent compared to December 31, 2017.
On the Hanoi Stock Exchange, the HNX-Index grew by 5.6 percent to end the month at 112.79 points. The northern market index fell over 6 percent against last year.
“Although the VN-Index recovered well in August, we notice that capital flows did not increase significantly but mainly rotated among different sectors. Therefore, if there is no sudden increase in capital flows, it will be difficult for the market to move higher,” said Bernard Lapointe, head of research at Viet Dragon Securities, in the company’s investment strategy for September.
Meanwhile, Lapointe said foreign flows will likely be limited following the trend of moving out of frontier and emerging markets.
Besides, the US Federal Reserve (Fed) will likely raise interest rates by the end of September, which is not supportive for equities.
Vietnam’s Ministry of Finance earlier this month requested authorities including the State Securities Commission to complete the draft revised Law on Securities, as well we guiding documents to implement Decree No. 60/2015/ND-CP, which amends and supplements some articles of the securities law.
The ministry also directed relevant authorities to finalise the scheme on restructuring the securities and insurance markets in the 2017-20 period.
Vietnam remains biggest rice provider of Philippines
Vietnamese exporters, authorities seek to navigate low global demand
Vietnam’s economic growth to recover in H2: IMF expert
DAILY: Vietnamese pepper prices held steady on July 3
DAILY: Vietnamese coffee prices remained unchanged on July 3
Reference exchange rate up 5 VND at week’s beginning
Agro-forestry-aquatic product exports likely to post positive growth from Q4
Retail sales of consumer goods, services up 10.9% in H1
Billions of US dollars from RoK expected to head to Vietnam
Vietnam’s economic growth and trade revenue in first half of 2023
Vietnam’s exports of rice in first five months and strategy to diversify export markets
Vietnam’s exports of fruits and vegetables in May and first five months of 2023
9 groups of export goods with export turnover falling by 500 million USD or more
Exports to Canada reached over 2.2 billion USD in first 5 months of 2023
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...