Securities firms seek solutions to overcome difficulty

Many securities firms have submitted to the shareholders various business plans, depending on the market conditions. Previously, VNDirect Securities Co (coded VND) had proposed two targeted profit plan.

Income from securities could get tax waiver

Deputy Minister of Finance Do Hoang Anh Tuan said the recommendation is in light of the fact that the securities market has been on a downtrend since the beginning of this year.

Kinh Do to list on London exchange

Kinh Do Corporation (KDC) last year successfully merged with its offshoots North Kinh Do (NKD) and Ki Do Joint Stock Co., or Kido’s. After the merger, Kido’s and NKD have become KDC’s subsidiaries and operate as one-member limited liability companies.

April 28: Vietnam stocks closed mixed, broad market sentiment weak

The benchmark VN Index gained 3.61 points or 0.76% to 472.93. Volume fell 17% to 23.6 million shares traded for VND446.62 billion. Analysts cannot see a sustainable rally yet but they see opportunities of buying into the lows for long term investors. Short term risks are seen.

April 26: VN index falls but 460 threshold sustains

The market opened in the red with 2.3 million shares changed hands. Trading was more active, but this time sellers took control, no efforts to recover were seen. The only positive thing in today trade was higher volume.

Seize illegal profits, ban stock fraudsters: experts

On March 24, Thai Thuy Tuyet Ngan, Nguyen Van Vinh, and Do Thi Thanh Thuy were each slapped with a 300 million dong (US$14,000) fine for manipulating the share prices of Cai Lay Veterinary Pharmaceutical JSC last year. According to the State Securities Commission, the three individuals used not only their own stock accounts but also that of many other people and coordinated with each other to “artificially” create demand by buying a large number of Cai Lay shares between April 1 and December 24 last year.

Only 20-35pct of stock accounts see frequent transactions

According to the Agribank Securities Joint Stock Co (Agriseco-AGR)’s general director, currently, the total number of transaction accounts at AGR reached over 30,000, however, the total volume of trading accounts seeing the frequent transactions accounted for only more than 30 percent.

Experts explore potential products for securities market

At the meeting held by the State Securities Commission of Viet Nam (SSC), Nguyen Thanh Ky, general secretary of Viet Nam Association of Securities Business suggested that Ministry of Finance (MoF) and SSC should consider policies to help create more new products for the stock market. Suggestions include allowing an investor to sell and trade shares during the same session while being able to open more than transaction account at different securities firms.

Ministry says securities rules to change for the better

This year, the ministry will continue completing the legal framework for the equity market. We will reorganize operations on the Hanoi and HCMC stock exchanges and the government bond market, and launch new products.

Profit-taking depresses shares

The performance of blue chips was particularly discouraging to the VN-Index, with stocks having a heavy influence on the Index seeing significant losses.

Listed firms post fourth-quarter losses

On the Ha Noi Stock Exchange, eight firms announced losses for 2010. Viet Hai Shipping and Real Properties Co (VSP) suffered the biggest loss of VND359 billion ($18.4 million), while Kim Long Securities (KLS) lost nearly VND173 billion ($8.9 million).

US consultancy firm inks deal with Beta Securities

Both of the companies intend to initially focus on the common high priority areas such as listing Vietnamese companies abroad, asset management, investment banking and facilitating access for international investors to participate in the Vietnamese stock market and for Vietnamese investors that would wish to buy foreign stocks.

No immediate plans to pull capital from Bao Viet: SCIC

Nguyen Minh Hai, a securities analyst with a Ha Noi-based securities company, said that it was clearly an unusual event for an insurance stock, especially when taken in comparison to its business earnings. “The insurance industry is characterised by stability with no profit mutations,” Hai said, adding that the abnormal behaviour of the stock had distorted the VN-Index.

Listed firms fear hostile takeovers

The Ha Noi market has a number of companies with capitalisation of under VND300 billion (US$15.4 million) each, leaving them vulnerable to institutional or large individual investors, and efforts by some companies to acquire controlling stakes in others by buying up listed shares are not a new phenomenon.

Banks hesitate over joining stock exchange

The Military Bank (MB) got the nod from the State Bank of Vietnam (SBV) to be listed on Ho Chi Minh City Stock Exchange (HoSE) in the second quarter of 2010. MB is of banks with good growth potential. In 2010, the bank reaped more than VND2 trillion ($100 million) in pre-tax profits, exceeding its projections and reported a return-on-equity (ROE) rate of around 30 per cent, a high-level compared to the bank sector’s average.

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