Thursday, March 28, 2024 5:02:37 PM - Markets open
VN-INDEX 1,290.18 +7.09/+0.55%
HNX-INDEX 243.92 +1.07/+0.44%
UPCOM-INDEX 91.48 +0.30/+0.33%
Stock market celebrates 20th birthday
VietNamPlus - 7/21/2020 1:13:07 PM
 (0 ratings. You must sign in to rate.)
 - 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).
 
There are more than 1,600 businesses listed on Vietnam’s two exchanges, with market capitalisation surpassing 4 quadrillion VND (172.9 billion USD) - equivalent to 65 percent of GDP.
 
HoSE has most of the major firms, which account for nearly 80 percent of total market cap.
 
Vietnam’s stock market has developed strongly in both quantity and quality over the last two decades and become an important capital channel for the economy. More than 2.4 quadrillion VND has been mobilised in the last ten years, accounting for 14 percent of total investment in society.
 
The market is also said to be a “launching pad” for many enterprises to capitalise on resources to make breakthrough developments and contribute substantially to economic growth and reach regional and international levels.
 
Addressing the ceremony, PM Phuc said the stock market has made every effort for the last 20 years to overcome numerous difficulties and challenges to develop strongly.
 
Facing the COVID-19 pandemic, which has triggered the worst global economic downturn since the Great Depression in 1929-1933, the country took dramatic moves to control the pandemic early. It is therefore necessary to make use of this unique chance to recover and develop the country’s economy and society, in particular by attracting domestic resources and regional and global capital flows to meet the huge financial demand for development investment both in the short and long terms, the PM said.
 
He underlined the necessity for breakthrough development in the stock market to better meet the medium and long-term need for capital in the economy and to join hands with the banking system in capital mobilisation.
 
The PM asked for close coordination between the Ministry of Finance, the State Securities Commission, and relevant ministries and sectors to synchronously develop markets, including the stock, monetary, and insurance markets, thereby optimising combined resources to promote growth, ensure macro-economic stability, and control inflation.
 
To expand the stock market and better its quality, he requested accelerating the equitisation and listing of State-owned enterprises (SOEs), encouraging private companies to list on the market, enhancing the market’s transparency, and applying international standards and practices.
 
Urging the early completion of the market’s structure and infrastructure, PM Phuc called on market members, businesses, and domestic and foreign investors to continue standing side-by-side with the Government to contribute more to the sustainable development of the stock market and the economy as a whole./.
VNA
 
Read original article here
 
Newer News
23/03 Shares sustain gains on strong investor confidence
20/03 Vietnamese securities companies race to boost capital amid high market demand
19/03 Large-caps pressured as increased profit-taking drives share decline
18/03 Market likely to be affected by Fed's meeting this week
18/03 Investors show strong interest in dividends at annual shareholders' meetings
15/03 VN-Index corrects, liquidity stays high
14/03 Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
13/03 Market rebounds from cautious sentiment
12/03 Losses in bank stocks weigh on market sentiment
12/03 ETFs continue to see strong outflows of foreign capital
Older News
18/07 Shares drop further on low liquidity
15/07 New regulations about corporate bond issuance
13/07 Stocks to struggle on mixed Q2 earnings report releases
12/07 Rallies end as profit-taking weighs on large-caps
07/07 VN stocks advance as securities, banking and aviation industries rise
07/07 Corporate bond market to boom in second half
02/07 VN-Index rebounds, propped up by PMI data and interest cuts
01/07 VN stocks fall for sixth straight day
30/06 Shares plummet on GDP growth record low and surges in COVID-19 fatalities
29/06 July to be a hard month for Vietnamese shares
 
Newsletter Signup
Top Stories
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Market Update
Last updated at 3:05:00 PM
VN-INDEX 1,290.18 +7.09/+0.55%
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...
Portfolio
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.