Saturday, August 24, 2019 11:43:28 AM - Markets open
VN-INDEX 992.45 -4.81/-0.48%
HNX-INDEX 103.25 -0.24/-0.24%
UPCOM-INDEX 57.95 +0.01/+0.02%
FTSE Russell adds VN to reclassification watchlist
Vietnam News - 9/28/2018 3:27:48 PM
 (0 ratings. You must sign in to rate.)
HÀ NỘI — Việt Nam was one of three countries added onto FTSE Russell’s watch list for a possible future upwards reclassification.
In its annual country classification review published on early Thursday, the UK-based data service provider said Việt Nam “is currently classified as a Frontier market and is being added to the watch list for possible reclassification as Secondary Emerging.”
The two other equity markets that were also added into FTSE Russell’s watch list were Argentina and Tanzania.
In June, Việt Nam’s equity market failed to be added into the watch list of Morgan Stanley Capital International (MSCI) for classification review for a possible lift from a Frontier market to an Emerging one.
According to FTSE Russell, Việt Nam’s equity market is classified as a lower-middle income, speculative market with restrictions in some key elements such as fair treatment of minority shareholders, selective incidence of foreign ownership, free and well-developed foreign exchange market, stock lending, off-exchange transaction and efficient trading mechanisms.
Việt Nam has also missed three FTSE Russell requirements on trading settlement, permitted short sales and developed derivatives market.
Among criteria that have been met by Việt Nam are the quality of market monitoring by formal regulators, sufficient competition to ensure high quality custodian services and market dept information/visibility and trading report process.
The announcement had been widely forecast by Vietnamese securities firms. BIDV Securities Co (BSC) recently said in a report that the Vietnamese market would be put onto the watch list and it would take one or two years for Việt Nam to be upgraded to an emerging market.
“The action of FTSE Russell will have big impacts on the Vietnamese equity market like pushing the market regulators to improve and upgrade the market,” BSC said.
“Secondly, investors’ confidence will get better and their short-term trading strategies may be changed to prepare for the portfolio shake-ups of exchange-traded funds (ETFs).”
Bảo Việt Securities JSC (BVSC) said in a report that FTSE Russell may raise the status of Việt Nam’s equity market in September 2019 if it was able to pass such requirements, and the upgrade would aid the market by drawing more attention from foreign investors. — VNS
Read original article here
Newer News
21/08 Shares advance as blue-chips gain ground
20/08 Shares move up with strong divergence among large-caps
19/08 Vietnam stocks predicted to swing for another week
15/08 Securities regulator unveils corporate governance code
14/08 Investors cheer US tariff delay
14/08 Post-merger stock exchange headquarters in Hanoi
11/08 Listed companies honoured for best investor relations
09/08 VN-Index makes progress on purchase power
08/08 VN shares move up but liquidity modest
07/08 Shares slide, money flows into industrial sector
Older News
27/09 VN-Index sink for a second day
25/09 Reference exchange rate up 6 VND
25/09 VN-Index continues upward trend
24/09 Market outlook positive for last week of September
20/09 Stocks up slightly on profit-taking
20/09 Stocks up slightly on profit-taking
18/09 VN-Index down 3.73 points on September 17
12/09 Vietnam’s stock market capitalisation reaches 79.2 percent of GDP
10/09 Stock market pins hopes on foreign investors in September
30/08 VN Index rally ends on selling pressure
Newsletter Signup
Top Stories
Shrimp export to China sees positive signs
Post-merger stock exchange headquarters in Hanoi
Listed companies honoured for best investor relations
Reference exchange rate up 2 VND on August 7
VN has trade surplus of about $1.6 billion in H1
Market Update
Last updated at 3:10:01 PM
VN-INDEX 992.45 -4.81/-0.48%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.