The total capitalisation value of the listing share market has reached VND300tril, or $20bil, equivalent to 31% of GDP, according to the State Securities Commission (SSC), which has released figures about Vietnam’s stock market in the first six months of the year.
Meanwhile, the total capitalisation of the bond market has reached more than VND80tril, or 8% of GDP.
The figures reflect the impressive growth rate of the stock market, if noting that by the end of 2006, the total capitalisation value of the listing share market was just $14bil, or 22.7% of GDP.
Currently, there are 55 operational securities companies with the average chartered capital of VND90bil each. It is estimated that the number of securities companies will be 100 by the end of this year. There are 18 existing investment fund management companies and 61 institutions providing depository services.
Regarding the number of investors, more than 200,000 transactions accounts have been opened, including 4,400 by foreign investors, seven fold higher than that in 2005 and 1.5 fold higher than 2006. The statistics showed that 206 foreign institutions had registered to join the market, and that foreign portfolio investment had fetched some $5bil.
According to Kim Thanh, an expert from the Monetary Department from the State Bank of Vietnam, 40 enterprises, including the giant insurer Bao Viet, have organised share auctions so far this year, during which, 451mil shares have been offered for sale.
However, there has been only one company listing shares so far this year, the Cho Lon Real Estate Joint Stock Company. The two securities trading centres, Hanoi and HCM City, now have 194 share items, two fund certificates and 500 bond items being transacted.
There have been two stages of market performance so far this year. It was very bustling from the beginning of the year until March, and has been decreasing since then.
The VN Index reached a record on March 12 with 1,170.67 points, and fell to its deepest low on April 24 at 905.53 points.
The HASTC hit its highest peak on March 9 with 454.84 points, and then began declining after mid March. It is now hovering at around some 300 points.
Regarding share prices, the VND847,000/share level of BMC seen on May 21 was the highest price level, which replaced the record set on February 27 by FPT (VND665,000/share).
The Bao Viet share auction on May 31 holds the record for highest number of attendants (20,368 investors registered to participate in the auction), well exceeding the previous record of the PVI auction (8,000 investors).
It would be very interesting to know which investors have made the most and lost the most money in the last six months. However, the figures, regrettably, are not available.
Source: VNE
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