Prime Minister Nguyen Xuan Phuc has signed Decision 37/2020/QD-TTg on the establishment of the Vietnam Stock Exchange (VNX), with the aim of unifying the stock market and ensuring efficient, fair, open and transparent activities.
The Hanoi Stock Exchange (HNX), together with the Ho Chi Minh Stock Exchange (HoSE), will become subsidiaries of the Vietnam Stock Exchange (VNX)
The VNX, having chartered capital of 3 trillion VND (130.2 million USD), will be headquartered in the capital city of Hanoi and operate as a one-member limited liability company wholly owned by the State. The Ministry of Finance will be the representative of State capital.
The Hanoi Stock Exchange (HNX) and the Ho Chi Minh Stock Exchange (HoSE) will become its subsidiaries, with 100 percent of capital invested by the VNX, but will both operate independently.
A gauge of Vietnamese stocks climbed on December 28 following the encouraging news.
The benchmark VN-Index on HoSE gained 0.64 percent to end December 28's session at 1,091.33 points. The index had gained 1.59 percent last week.
Nearly 723.9 million shares were traded on the southern bourse on the day, worth 14.6 trillion VND.
The large-cap tracker VN30-Index was up 0.20 percent to 1,054.23 points.
Fourteen of the 30 large-cap stocks in the VN30 basket increased while 13 declined.
“VN-Index continued its rally for most of the session and is now back over 1,090 points,” said BIDV Securities Co.
“Foreign investors were net sellers on both HoSE and HNX. Besides, market breadth was positive and liquidity increased compared to the previous session.
“According to our assessment, the VN-Index may still move towards the threshold of 1,100 points in the coming sessions,” it said.
Foreigners net sold 348.21 billion VND on HoSE, including Hoa Phat Group (HPG) with 85 billion VND, Military Bank (MBB) with 64.7 billion VND and Vincom Retail (VRE) with 60.1 billion VND. They were net sellers on the HNX with a value of 25.1 billion VND.
Nineteen out of 25 sector indices on the stock market gained ground, including logistics, wholesale, real estate, IT, energy, securities, healthcare, construction materials, insurance, banking and rubber production
On the opposite side, losers were food and beverage, seafood processing, retail and construction.
A number of blue-chips attracted cash flow such as insurer Bao Viet Holdings (BVH), steel maker Hoa Phat Group (HPG), Vietnam National Petroleum Group (PLX), Phu Nhuan Jewelry (PNJ) and Vinhomes (VHM).
On the Hanoi Stock Exchange, the HNX-Index climbed 2.14 percent to 196.57 points.
Nearly 165.4 million shares were traded on the northern market, worth 2.3 trillion VND./.
VNA
