City stock exchange makes it lucky 13
City stock exchange makes it lucky 13
Around US$62 billion in capital has been raised from the stock market during its 13 years of operation, State Securities Commission statistics shows.
The HCM City Stock Exchange was launched on July 20, 2000.
Over the past 13 years, the number of listed companies is 60 times higher with 303 companies, five fund certificates and 39 listed corporate bonds whose market capitalisation totalled VND813 trillion ($38.7 billion).
The trading value of the southern market saw a growth rate of 135 per cent per year.
The Ha Noi Stock Exchange started its first trading session on July 14, 2005, and now has 387 listed companies with a total market capitalisation of nearly VND100 billion ($4.8 million).
About 1.2 million trading accounts have been activated on both stock exchanges during this period, of which 20,000 accounts belong to foreign investors.
In addition to the success in channeling capital for companies, the stock market has helped raise awareness among public companies of transparency and obligations regarding information disclosure.
The commission said authorities would continue to complete the legal framework, especially for the derivatives market, and further develop policies related to listing, capital mobilisation, taxes on securities trading, accounting and auditing and corporate risk management.
In order to ensure fairness and transparency in the market, the commission would strengthen its supervision of securities companies and investor trading to root out violations.
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