Ho Chi Minh City Stock Exchange holds ceremony to mark 15 years of operations.
The Ho Chi Minh City Stock Exchange (HoSE) is celebrating its 15th anniversary.
From its first transaction, on July 28, 2000, to June 30, 2015, HoSE had 303 listed shares with total market capitalization of over VND1.1 million billion ($50.41 billion) and 87 million securities company members and 1.5 million investor accounts. In the 15 years since opening the total number of stocks traded and exchanged on HoSE stands at 112 billion, worth over VND2.7 million billion ($123.74 billion).
HoSE is currently listing and trading one ETF (exchange-traded fund) and 38 corporate bonds and local government bonds. Companies listed on HoSE are industry leaders, with an average capitalization of more than VND3.6 trillion ($164.99 million).
The market capitalization on HoSE accounts for 88 per cent of Vietnam’s total. The average daily transaction value in 2014 was VND2.1 trillion ($96.24 million), or 70 per cent of all transaction on HoSE and HNX.
“In the last 15 years Vietnam’s economy in general and the stock market in particular have benefitted greatly from the country’s renovation process,” Prime Minister Nguyen Tan Dung said. There are still many difficulties to face, especially from the negative effects of the financial crisis and recent global economic downturn.
The three main sectors accounting for the largest share in the market were banking - finance - insurance, manufacturing and processing, and the production and distribution of electricity. Six leading commercial banks in Vietnam are listed and trading on HoSE.