Stock market raises $6b in first half

Stock market raises $6b in first half

Viet Nam's stock market raised VND127 trillion or US$6 billion in the first six months of this year, up 3 per cent year over year.

According to the statistics of the State Securities Commission (SSC), restructuring the stock market together with developing new products, including derivatives and exchange-traded funds, to improve the market liquidity continue to be the major tasks during the rest of the year.

The Commission said it would cooperate with international consultant organisations on implementing measures to upgrade the level in the Morgan Stanley Capital International (MSCI) indexes, which is the world's leading provider of investment decision support tools.

This, coupled with the expected regulation of rising foreign stakes at listed companies, aimed to improve the foreign capital inflow in the stock market.

SSC would also cooperate with the State Bank of Viet Nam in controlling the capital inflow from banks to the stock market to ensure securities and limit cross-holdings.

SSC also said that the foundation of a fund to protect investors in case of bankruptcy would be put into consideration, together with setting up pension funds and regulations about credit rating.

In the first half of this year, exchanges held share auctions for 48 companies, 31 of which were wholly State-owned enterprises, the Commission reported.

The total equitisation value reached more than VND2 trillion or $946.5 million, a three-fold increase year over year.

Currently, there are about 662 companies listed on the two national stock exchanges, after seven more companies were added and 22 delisted from exchanges in the first six months of this year.

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