NGUYEN HUYEN TRANG
Difference and weakness
7/1988, Vietnamese government issued
resolution No 48/CP of establishing stock
7/2000, Vietnam stock market started
operating with the born of HOSTC (Ho Chi Minh
City Securities Trading Center) and upgraded to
HOSE ( Ho Chi Minh City Stock Exchange) in
2005, HASTC (Ha Noi Securities Trading Center)
operated officially and changed to HNX( Ha Noi
Stock Exchange) in June 2009
2006 – 2007, the explosion of Vietnam Stock
VIETNAM STOCK MARKET
In Vietnam, the State Securities Commission ("SSC") is
the State Body which manages and controls all
operations of the Vietnamese capital markets.
Stock market in
October , 2014
The applicant company must have a minimum book value of 120
billion VND (approximately 5.7 million USD) in paid-up charter capital.
The applicant company must have been profitable for the last two consecutive years and there must not be any accumulated losses up to the year of listing.
The applicant company must have a minimum book value of 30
billion VND (approximately 1.4 million USD) in paid-up charter capital.
The applicant company must have been profitable for the year proceeding the listing application.
The HOSE and HNX trade only ordinary shares, bonds
and fund certificates.
Par value per share:
10.000 VND (0.47 USD)
Prior to LO order in matching progress
Order matching 8h30 – 9h
10 – 10h30
Settlement : T+3 if continue matching, T+1,
T+2, T+3 if put through
The difference between Vietnam and international
market is most of listed companies are SOEs which
has IPO capitalization rates are high, but the rate
freely transferable shares (free float) are very small,
accounting for 10-30%. Meanwhile, the majority of
70-80% is held by State capital corporations, or
managing agency of that sector. This has limited to
the depth of the market and its impact on liquidity.
LACK AND WEAKNESS
of professional labors : the stock
staffs still lack of management skills and
experiences, security training systems
don’t still satisfy the market demand and
only 1/3 graduate students satisfy the
requirement, the rest needs to be retrain
of investors still lack knowledge and
experience, plus lack of information,
usually invest according to feeling and
LACK AND WEAKNESS
Many listing companies publishing
information isn’t timely, even still existing
the phenomenon of masked information
Difficult for investors in making investment
Bad influences to the investor’ belief in the
management of the state and future of the
High/ unstable inflation rate and weak
economic reduced the attractiveness of
Vietnam stock market to foreign investors
Compared with many large and long –
standing stock markets,...
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