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Tag: stock market

  • South Korean Retail Traders Amass Billions in US Used ETF’s

    South Korean Retail Traders Amass Billions in US Used ETF’s

    South Korean retail investors poured an estimated $10 billion into US used exchange-traded funds during the first half of the year. The buying gave them dominant stakes in several high-risk products. Korea Securities Depository filings show domestic accounts held $5.24 billion in the Direxion Daily Semiconductor Bull 3X Shares alone. That equals 27 per cent of the fund’s $19.3 billion market capitalisation.

    This concentration spreads well past semiconductor tracking. Korean buyers hold 38.8 per cent of the Direxion Daily TSLA Bull 2X Shares and 37.6 per cent of the Direxion Daily MSCI South Korea Bull 3X Shares, alongside 20.9 per cent of the ProShares Ultra QQQ. Net buying of the semiconductor fund reached $2.43 billion this year. That outstripped demand for standard index trackers by a factor of 1.5.

    Regulatory Caps at Home Drive Outflows

    Financial regulators in Seoul prompted the overseas shift by imposing minimum deposit rules and volume ceilings on domestic single-stock used products. The restrictions failed to cool risk appetite. Capital flowed straight to US exchanges, where investors access uncapped daily use across individual equities, semiconductor benchmarks, and international country indices.

    Total Korean equity holdings in the US stand at $112 billion. That is barely 0.2 per cent of total American market capitalization. In specialized used derivatives, however, concentrated buying turned Seoul day traders into the dominant liquidity provider.

    Past retail surges across East Asia followed a similar pattern. Tighter domestic margin rules in markets like Hong Kong and Tokyo pushed speculative volumes into offshore derivatives whenever local platforms restricted margin access.

    Night Trading Halts Force Blind Orders

    Heavy order flow disrupted execution infrastructure on September 1. Alternative trading system Blue Ocean ATS suspended daytime trading for 18 securities, including the top semiconductor and Korea bull funds. The platform acted under the US Securities and Exchange Commission Fair Access Rule. That rule triggers extra regulatory burdens when an alternative venue handles 5 per cent or more of a single security’s volume over four out of six months.

    Local brokerages including Samsung Securities and Toss Securities routed daylight orders to alternative platforms MOON and Bruce to keep order lines open. These backup venues do not deliver real-time quote feeds. Clients had to enter limit orders without viewing bid and ask spreads.

    Blue Ocean reviews trading volumes monthly to determine when the 18 suspended securities can return to its platform. Meanwhile, brokerage houses in Seoul are building backup order-routing networks to prepare for further liquidity limits.

  • South Korea Retail Investor Deposits Drop Below 100 Trillion Won

    South Korea Retail Investor Deposits Drop Below 100 Trillion Won

    South Korean retail investor deposits fell below 100 trillion won ($72.4 billion) as individual stock traders increasingly turned to borrowed money to finance equity purchases in Seoul.

    Deposits held by individual investors reached 98.92 trillion won on Wednesday, shedding 3.62 trillion won in a single session, according to data from the Korea Financial Investment Association. The contraction marks the first drop below the 100 trillion won threshold since Aug. 12, reversing a brief rebound that peaked at 106.58 trillion won on Aug. 19.

    Margin Debt Climbs for Seven Sessions

    While cash balances shrank, margin debt climbed to 33.1 trillion won, adding 254 billion won on the day. The figure crossed the 33 trillion won mark for the first time in nearly a month, following an upward run across seven consecutive trading sessions that started Aug. 18. Outstanding margin balances had dropped to 27.4 trillion won on Aug. 4 before reversing course.

    Retail market participants offloaded a net 2.25 trillion won worth of shares on the benchmark Kospi on Aug. 26. The combination of falling cash deposits and persistent net equity sales indicates that individuals are pulling direct liquidity out of their trading accounts even as debt-financed exposure expands.

    Credit Stress and Index Resistance

    Short-term credit transactions climbed to 1.15 trillion won, an increase of 146.9 billion won from the previous trading day. Forced liquidations triggered by unpaid credit, known as margin selling, reached 12.7 billion won, representing 1.3 per cent of total short-term credit balances outstanding.

    Across regional equity desks, high domestic retail use often amplifies market swings when local indices stall at major technical barriers. Individual retail flows in Seoul remain heavily sensitive to market momentum, and rapid debt accumulation during rangebound periods leaves trading portfolios exposed to sharp forced selling if share prices drop.

    Trading desks in Seoul are now tracking whether the Kospi can break past the 7,000-point level or if margin liquidations will expand beyond the current 12.7 billion won daily threshold.

  • Samsung and SK Hynix Slump Drags Seoul Benchmark Down 3.12 per Cent

    Samsung and SK Hynix Slump Drags Seoul Benchmark Down 3.12 per Cent

    South Korea’s benchmark KOSPI index dropped 3.12 per cent on Monday as sharp declines in Samsung Electronics and SK hynix dragged down Seoul equities. The semiconductor sell-off erased gains from the previous two sessions, leaving Samsung tumbling 8.70 per cent and SK hynix down 3.41 per cent by the close.

    The benchmark index settled at 6,696.96 points, down 215.99 points from Friday after opening 0.46 per cent lower. Foreign institutional funds drove the retreat, offloading a net 3.69 trillion won ($2.67 billion) in shares, while domestic institutions sold 1.29 trillion won. Local retail buyers absorbed 3.32 trillion won of the selling pressure.

    Divergent Shareholder Return Strategies

    Investor disappointment centered on the stark contrast between the capital return programs announced by the two semiconductor giants. SK hynix revealed a plan last Wednesday to repurchase and cancel 40 trillion won of its own stock, alongside a pledge to return at least 50 per cent of its free cash flow over the next three years. The chipmaker immediately started buying roughly 650,000 shares a day, accounting for up to 15 per cent of its daily trading volume.

    Samsung took a different approach, winning board approval on Friday for a capital allocation package worth between 90 trillion and 110 trillion won this year. That total includes about 30 trillion won in cash payouts and regular third-quarter dividends. Traders reacted negatively to the lack of immediate share cancellations, dumping the stock after management deferred specific allocation mechanics.

    Retail Buyers Cushion Foreign Outflows

    Across regional tech capital, institutional funds increasingly reward immediate share retirements over cash dividends because equity cancellations permanently reduce share count. Samsung’s reliance on cash payouts left investors exposed to timing uncertainty while SK hynix locked in direct daily buying demand.

    Capital that fled Samsung found a temporary home in smaller technology names. The secondary Kosdaq index gained 1.42 per cent to close at 813.33 points as money rotated into secondary battery suppliers and electronic materials manufacturers. In foreign exchange trading, the Korean won ended onshore trade at 1,382.4 per US dollar, strengthening by 4.1 won.

    Samsung’s board of directors is scheduled to meet in late October to determine the final dividend allocation and exact cash distribution timetable for the remaining portion of its 110 trillion won plan.

  • US Billionaires Boost Baidu Bets Amid AI Surge, Pull Back from Alibaba and JD.com

    US Billionaires Boost Baidu Bets Amid AI Surge, Pull Back from Alibaba and JD.com

    Major US investors are rebalancing their portfolios in Chinese technology stocks, with a notable shift towards Baidu as artificial intelligence capabilities expand. Stanley Druckenmiller, through his Duquesne Family Office, re-entered the US-listed Chinese market by acquiring 88,200 Baidu American depositary receipts (ADRs) during the second quarter. This purchase, valued at approximately US$10.1 million, marks his firm’s first investment in such companies since exiting Alibaba Group Holding in late 2023.

    Similarly, David Tepper’s Appaloosa Management nearly doubled its investment in Baidu, increasing its holdings to 1.3 million ADRs, worth about US$148 million. This move contrasts with the hedge fund’s earlier stance in late 2024, when Tepper indicated a broad increase in China exposure.

    Shifting Focus To AI Innovations

    Baidu, traditionally known for its dominant search engine, has aggressively pivoted to artificial intelligence. The company’s strategic focus now includes its Ernie large language models, cloud computing services, and autonomous driving technology. This emphasis on AI appears to be a key driver for the renewed investor interest from Wall Street billionaires.

    The increased investment in Baidu coincides with a reduction in other Chinese internet holdings for some investors. Appaloosa Management, for instance, cut its Alibaba stake by 42 percent and completely divested from JD.com and PDD Holdings. These adjustments reflect a selective approach to the Chinese tech sector, prioritizing companies with strong AI growth narratives.

    Implications For Asia’s Tech Market

    These investment shifts by influential global investors underscore the growing significance of AI capabilities in determining value within Asia’s technology sector. As Baidu strengthens its AI ecosystem, including efforts in large language models and autonomous vehicles, it could reshape competitive dynamics, especially in cloud services and advanced consumer tech, areas RetailNews Asia actively tracks across the region. Such movements by prominent investment figures often signal broader trends that impact market sentiment and strategic directions for companies operating in Asia-Pacific’s fast-evolving digital economy.

  • Asian Stocks Soar as US Treasury Intervention Calms Bond Market Fears

    Asian Stocks Soar as US Treasury Intervention Calms Bond Market Fears

    Asian stock markets rallied strongly on Thursday after the US Treasury intervened to calm fears over rising bond yields. The announcement that the Treasury would significantly increase its long-term bond issuance provided a much-needed boost to investor confidence, leading to a rebound in equities across the region.

    This intervention comes after weeks of heightened concern over US bond yields, which had climbed to near two-decade highs. The prospect of sustained high inflation, increased government borrowing, and potential further interest rate hikes by the Federal Reserve had pushed yields on 10- and 30-year US Treasuries to unsustainable levels, sparking a sell-off in riskier assets, including Asian stocks.

    Yield Concerns Eased By Treasury Move

    The US Treasury’s unexpected decision to “at least double” the amount of long-term bonds it issues is a clear signal to the market that authorities are uncomfortable with the recent spike in borrowing costs. This move is intended to inject liquidity and bring down yields, which had seen the 30-year US Treasury yield reach its highest point since June 2007 earlier in the week. The immediate effect was a reversal of losses in US equities and a decline in the dollar against other major currencies.

    For Asian markets, the impact was immediate and positive. Technology firms, which often rely on significant debt for capital expenditure, particularly in areas like artificial intelligence, had been hit hard by rising yield concerns. Seoul’s Kospi index led the charge, jumping over six percent at one point. South Korean chipmaker SK hynix saw its shares rocket more than 12 percent, partly bolstered by its recent US$29 billion share buyback announcement, with Samsung also climbing almost nine percent. Elsewhere, Tokyo, Hong Kong, Shanghai, Sydney, Wellington, and Manila also reported strong gains. RetailNews Asia has observed that stability in financial markets is crucial for regional consumer brands planning expansions or significant capital investments, as it directly influences their cost of funding and investor sentiment.

    Future Outlook For Rates And Oil

    Despite the current relief, market observers question how long the fall in yields will last. Key factors that could reignite pressure on the long end of the Treasury curve include persistently high oil prices and ongoing concerns about US government borrowing. Crude prices have been on an upward trend for the past two weeks, fueled by fading hopes for a US-Iran deal regarding the Strait of Hormuz, with tensions in the region remaining high.

    Investors are also closely watching the US Federal Reserve’s stance on interest rates. Minutes from the Fed’s July meeting indicated that many policymakers believe further rate hikes might be necessary if inflation does not sufficiently decline. Three of the twelve voting members of the Federal Open Market Committee advocated for an immediate rate increase, noting robust economic activity driven largely by the AI industry. Attention now turns to the upcoming annual meeting of central bankers in Jackson Hole, Wyoming, next week, where Fed boss Kevin Warsh is expected to provide further clarity on the central bank’s rate strategy.

  • Vietnam’s Stock Market Blazes into 2026: Skyrockets to Historical Highs in Opening Sessions

    Vietnam’s Stock Market Blazes into 2026: Skyrockets to Historical Highs in Opening Sessions

    The Vietnam stock market began the year on a high note, setting two new historic peaks within the first two trading sessions. The VN-Index, Vietnam’s benchmark stock index, closed at a record-breaking 1,788 points on Monday and escalated a further 1.56% to a fresh peak of 1,816 points on Tuesday. After closing the previous year 40% higher, it now ranks as the tenth best-performing stock index globally.

    The Ho Chi Minh Stock Exchange, the basis for the VN-Index, experienced a 6% gain in trading on Tuesday, reaching VND27.45 trillion (US$1.04 billion).

    On the other hand, the VN30 basket, which consists of the thirty largest capped stocks, saw 23 stock tickers rising. Leading the way was GAS, a state-owned Petrovietnam Gas, with a 7% increase, closely followed by property titan Vinhomes’ VHM, which climbed 6.9%.

    Fuel distributor Petrolimex’s PLX finished 6.7% higher, while MB’s MBB, a lending company, rose by 5.1%.

    However, two prominent stocks experienced a decline. Duc Giang Chemicals Group’s DGC dropped 3.8%, while Sacombank’s STB, a lender based in Ho Chi Minh City, fell by 2.1%.

    Foreign investors mainly sold off stocks of the private conglomerate Vingroup’s VIC and VHM, resulting in net sales of approximately VND387 billion.

    Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, which primarily consists of mid and small-cap stocks, fell by 0.09%. The UPCoM-Index for Unlisted Public Companies Market also experienced a drop, declining by 0.39%.

    Questions & Answers

    What were the new historic peaks for the Vietnam stock market at the beginning of the year?

    The VN-Index, Vietnam’s benchmark stock index, closed at a record-breaking 1,788 points on Monday and escalated a further 1.56% to a new peak of 1,816 points on Tuesday.

    Which were the top-performing stocks in the VN30 basket?

    Leading the way was GAS of state-owned Petrovietnam Gas with a 7% increase, followed closely by property giant Vinhomes’ VHM, which climbed 6.9%.

    Which stocks did foreign investors predominantly sell off?

    Foreign investors mainly sold off stocks of the private conglomerate, Vingroup’s VIC and VHM, resulting in net sales of approximately VND387 billion.

  • Vietnam Stocks Plunge to Three-Week Low: VN-Index Slips Amid Massive Selloff

    Vietnam Stocks Plunge to Three-Week Low: VN-Index Slips Amid Massive Selloff

    On Friday, Vietnam’s key VN-Index experienced a significant drop of 3.06%, settling at 1,656.89 points, the lowest it’s seen since November 19. This marked the fourth consecutive session that the index has ended in negative territory.

    Trade Volume Soars on Ho Chi Minh Stock Exchange

    Trading on the Ho Chi Minh Stock Exchange, which forms the basis for the VN-Index, saw a significant increase in activity. The volume of trades surged by 52%, amounting to a total of VND24.7 trillion (US$938 million).

    Most Large Cap Stocks Experience Decline

    In the VN30 group, which encompasses the 30 largest capped stocks, 29 saw a decrease. Notably, Vinhomes, a real estate heavyweight, and Vincom Retail, a retail real estate subsidiary, experienced a substantial decline of 6.9%.

    Other major companies also experienced losses, including private lender VPBank, which saw a drop of 5.7%, and Vietnam Rubber Group, which fell by 5.1%.

    In contrast, Becamex Investment and Industrial Development was the only blue-chip stock that managed to stay in positive territory, albeit with a slight gain of 0.2%.

    Foreign Investors Continue Selling Trend

    Foreign investors continued their selling streak for the sixth session in a row, leading to a net sale of VND571 billion. The most significant sales were from private conglomerate Vingroup and state-owned lender Vietcombank.

    Other Indices Also See Decrease

    Other indices also experienced a decrease. The HNX-Index, which lists stocks on the Hanoi Stock Exchange, primarily those of mid and small-cap companies, decreased by 2.26%. Meanwhile, the UPCoM-Index for Unlisted Public Companies Market fell slightly by 0.61%.

    Questions & Answers

    What is the VN-Index?
    The VN-Index is a capitalization-weighted index of all the companies listed on the Ho Chi Minh Stock Exchange.

    What was the significant trade on Friday?
    On Friday, trading on the Ho Chi Minh Stock Exchange surged by 52%, reaching a total of VND24.7 trillion (US$938 million).

    Which stock experienced the greatest loss on Friday?
    Real estate giant Vinhomes and retail real estate arm Vincom Retail saw the most significant losses, both dipping by 6.9%.

  • Stock market plunges

    Stock market plunges

    Vietnam’s benchmark VN-Index dropped 2.15% to 1,065.84 points Tuesday.

    The index closed 23.45 points lower after gaining 12.14 points on Monday.

    Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 26.65% to VND12.17 trillion ($515.35 million).

    The VN-30 basket, comprising the 30 largest capped stocks, saw 24 tickers dropped.

    PDR of Phat Dat Real Estate Development hit the floor with a 6.9% fall.

    HPG of steelmaker Hoa Phat Group fell 6.6% and NVL of property developer Novaland Group lost 5.2%.

    GVR of Vietnam Rubber Group went down 5.1% and SSI of leading brokerage SSI Securities Corporation declined by 4.7%.

    Five blue chips bucked the trend.

    TPB of private TPBank went up 1.2% and PLX of fuel distributor Petrolimex gained 0.5%.

    Foreign investors were net buyers to the tune of VND37.26 billion, mainly buying STB of Ho Chi Minh City-based lender Sacombank and CTG of state-owned lender VietinBank.

    The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 2.08% while the UPCoM-Index at the Unlisted Public Companies Market was down by 0.55%.

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  • Vietnam stock market becomes world’s worst performer

    Vietnam stock market becomes world’s worst performer

    Vietnam’s stock market was the world’s worst performer this week with an 8.5% decline.

    It was followed by Russia, down 4.8%, and Venezuela, down 1.87%, according to market data provider StockQ.

    Over the last four weeks Vietnam has been the world’s second worst performer behind Russia, with the VN-Index falling by 16.67%.

    The VN30 basket, comprising the 30 largest capped stocks, declined by 18.51% in the period.

    Some of the worst performers were private lenders Techcombank and VPBank and electronics retail chain Mobile World.

    The State Bank of Vietnam raised its policy rates last month to control inflation.

    The dollar has been rising to new peaks against the dong as well as most other currencies amid rising interest rates in the U.S. and geopolitical tensions.

    “Margin call pressure forced investors to sell off recently and the panic among investors has not subsided yet,” Phung Trung Kien, founder of asset management firm Vietnam Holdings said.

    “Cash flow to the market is quite limited these days as most of the important rates such as interbank interest rates have been increasing a lot.”

    Nguyen Anh Duc, head of institutional sales at SSI Securities Corp, said retail investors are “extremely panicky and they are taking flight without regard for which stocks they are selling.”

    But some investment funds, such as Coeli Asset Management SA and Asia Frontier Capital are looking to buy more of Vietnam stocks given the country’s long-term economic prospects.

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  • Stocks plunge to 11-week low

    Stocks plunge to 11-week low

    Vietnam’s benchmark VN-Index started off the week in the red with a 1.25 percent drop to 1,440.23 points Monday morning, the lowest in 11 weeks.

    The index fell by 17 points as of 11:06 a.m. after ending in the red in four out of the last six sessions.

    The main bourse Ho Chi Minh Stock Exchange (HoSE) saw 361 tickers in the red and 107 in the green.

    Brokerages have forecast earlier that the market would drop in the short term.

    The VN30 basket, comprising the 30 largest capped stocks, saw 15 tickers in the red, with SSI of leading brokerage SSI Securities Corporation falling 4.5 percent to the lowest since August last year.

    VHM of real estate giant Vinhomes dropped 3.4 percent, the lowest in over a year.

    Other losers included CTG of state-owned lender VietinBank, down 3.5 percent, MBB of lender MB, down 2.7 percent, and VIC of biggest private conglomerate Vingroup, down 2.9 percent. Fourteen blue chips bucked the trend, with PNJ of Phu Nhuan Jewelry rising 3.2 percent and FPT of IT giant FPT Corporation gaining 2.2 percent. Both were at new peaks.

    They were followed by SAB of brewer Sabeco, up 2 percent, and TPB of private TPBank, up 1.6 percent.

    Foreign investors are buying the dips with a VND88 billion net purchase, focusing on DPM of Petrovietnam Fertilizer & Chemicals Corporation and NLG of real estate developer Nam Long Investment Corp.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, was losing 2.51 percent, while the UPCoM-Index for the Unlisted Public Companies Market was losing 1.5 percent.

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  • Vietnam stock market makes bright start after Tet holidays

    Vietnam stock market makes bright start after Tet holidays

    The VN-Index began the new lunar year with a 1.5-percent jump Monday morning, led by aviation and energy stocks. It gained 22 points to 1,503 points at 11.20 as the market reopened after the nine-day Tet break, reaching a near four-week high. It represents a 4.1-percent recovery from the bottom of 1,439 points reached on January 18 as investors booked profit before the holidays.

    Most brokerages expect the index to rise this week since no negative news came out during the holidays. Analysts at ASEAN Securities and BIDV Securities said the VN-Index is set to stay in the 1,500 levels this week. It closed in the green on an opening day on five of the last six years since 2016, only dipping in 2020 when Covid-19 first hit Vietnam.

    The VN30 basket, comprising the 30 largest capped stocks, saw 24 of them gain Monday, led by VJC of budget airline Vietjet, which rose by 6.6 percent as investors expect a recovery by the aviation industry after the government announced plans to revive international tourism by March-end.

    Vietnam Airlines (HVN) gained 7 percent to the ceiling and its highest in over three months.

    Airports Corporation of Vietnam (ACV) rose by 7.4 percent with volumes reaching 321 percent of the average of the last 10 sessions.

    Energy stocks also rose, with PLX of fuel distributor Petrolimex climbing by 6 percent and GAS of state-owned Petrovietnam Gas gaining 6.2 percent. POW of electricity producer Petrovietnam Power Corporation was up 6.5 percent. Companies expected to benefit from rising consumer demand, such as VRE of real estate retail firm Vincom Retail and MSN of conglomerate Masan Group were the other gainers.

    The HNX-Index on the Hanoi Stock Exchange, home to mid-and small-cap companies, was up 1.2 percent, and the UPCoM-Index on the Unlisted Public Companies Market had gained 1 percent at the time of publishing.

  • Vietnam stock market 7th biggest gainer globally

    Vietnam stock market 7th biggest gainer globally

    Vietnam’s stock market was the seventh biggest gainer last year at 35.7 percent, outperforming regional peers, as new retail investors rushed to a new asset for profit.

    With the benchmark VN-Index rising 394 points to close the year at 1,498 points, Vietnam listed among the top 10 gaining stock markets in the world with Abu Dhabi, Argentina, and Iceland in the top 3.

    In Asia, Vietnam outperformed major markets like Taiwan (24 percent), Thailand (14 percent), and Indonesia (10 percent).

    Some markets like Malaysia and Hong Kong posted a decline.

    2021 was the third year in a row the VN-Index went up. Growth was 7.6 percent and 14.7 percent in the previous years.

    Growth exceeded forecasts of several brokerages at around 1,300 or 1,400 points.

    Several analysts said with a price-to-earnings ratio of 17.47, the Vietnam market is still “cheaper” than others in the region.

    The main bourse, Ho Chi Minh Stock Exchange (HoSE), closed the year with a market cap of VND5,830 trillion ($256.21 billion).

    Brokerage VNDirect has forecast the VN-Index could reach 1,700 points this year.

  • Over 130,000 investors enter stock market

    Over 130,000 investors enter stock market

    More than 130,000 new investors opened stock trading accounts in October, including 129,750 local investors, according to the Vietnam Securities Depository.

    129,200 of the local investors were retail ones.

    At the end of October there were over 3.86 million accounts. The number increased for a third straight month amid news of government economic stimulus of around VND800 trillion ($34.78 billion).

    The benchmark VN-Index rose to a new peak of 1,456.51 points on Friday, led by energy stocks, though trading on the Ho Chi Minh Stock Exchange dipped slightly to VND26.14 trillion.

    The government targets having 3 percent of the population participating in equity markets by the end of this year and 5 percent by 2025 under its Scheme for Restructuring Securities and Insurance Markets, which it finalized in early 2019.

  • Newbies continue to flock to stock market

    Newbies continue to flock to stock market

    The number of new stock trading accounts opened by retail investors in May topped 113,670, a new monthly record, according to the Vietnam Securities Depository.

    May was the third month in a row in which more than 100,000 accounts were opened. There were 3.2 million retail accounts and nearly 12,000 belonging to organizations.

    The invasion of the market by new investors took the total trading value on the Ho Chi Minh Stock Exchange (HoSE), Hanoi Stock Exchange, and Unlisted Public Companies Market to over VND531 trillion ($23 billion) in May.

    HoSE accounted for VND448.5 trillion, a 19 percent increase from the previous month.

    The boom has created pressure on the HoSE trading board, which had to shut down for the first time ever on Tuesday after the morning session as a surge in transactions threatened to overwhelm it.

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  • Vietnam stock market daily trading value closes in on Singapore

    Vietnam stock market daily trading value closes in on Singapore

    The average daily securities trading value surged 5.6 times year-on-year in April to $725 million, nearly equivalent to that of Singapore, according to HSBC.

    The lender said in a recent report that the figure, which far exceeds those of Malaysia and Indonesia, was due to the increase in new investors and recovery of the economy.

    In March, the number of new trading accounts hit a record 113,900, taking the total to over 3.02 million.

    The economic recovery is underpinned by strong FDI flows, improvements in the manufacturing segment, and increased consumption, the report said.

    The benchmark VN-Index has risen 12.9 percent in the year-to-date compared to 4.2 percent for Asia ex-Japan.

    The index has repeatedly scaled new peaks this year after surpassing the psychological barrier of 1,204 points first reached in 2018.

    HSBC expected the market to continue to rise in the absence of alternative asset classes and bank deposit rates in decline.

    Though foreign investors have been pulling out of the stock market, HSBC said they would not be able to ignore Vietnam for much longer since it has proved to be one of the most resilient growth economies and 24 out of the 30 blue chips have still not reached the foreign cap.

    Besides, despite rising to record levels, the VN-Index remains 5 percent lower than its five-year average level with a price-to-earnings ratio of 15.1.

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