VietNamNet Bridge - Despite the dark days of the stock market, more and more open end investment funds have been set up. However, it's still too early to say about their performance. According to the State Securities Commission (SSC), in the first half of the year alone, the watchdog agency granted license to four open end funds, while it is considering licensing five more in the time to come. It is expected that 15-20 such funds would be set up in 2013. As such, Vietnam has had 47 fund management companies so far, 18 securities investment funds, 8 investment funds which are following the procedures to get dissolved and 26 operational representative offices. It is quite a surprise that Vietnam still witnesses the investment fund boom in the context of the gloomy stock market. The number of fund management companies reportedly decreased significantly in the first six months of the year. Some left the market in different ways: one is following the procedures to get dissolved, one … [Read more...] about Will Vietnamese stock market benefit from open-end fund boom?
Explained stock market
Stock market crashesPhuong Thao HCMC – Stocks took a nosedive on January 17 as sellers locked in profit after recent strong gains, with the VN-Index shedding a hefty 28.27 points, or 2.66%, at 1,034.69. According to securities enterprises, market sentiment was negatively affected by a draft amendment to Decision 87, proposed by the State Securities Commission (SSC). According to the document that has been sent to brokerage firms for feedbacks, the equity required for each margin lending transaction should not be below 60%, a significant increase from the current 50%. The money flow, especially from local retail investors, therefore could be tightened. This indicates some caution by the SSC regarding the strong rally in share prices this year. Blue chips were key factor behind the steep decline as only confectionery firm KDC and construction firm ROS in the VN30 basket managed fractional rises. Meanwhile, VNM, the country’s leading dairy enterprise, fell 3.9% at VND200,100 … [Read more...] about Stock market crashes
In the first half of 2018, at least 13 major funds and investors on Vietnam’s stock market suffered negative growth rate in their net asset value (NAV), which is value per share of a fund on a specific date or time. Leading this was Hanoi-based Hestia Joint Stock Company registered on the Unlisted Public Company Market (UPCoM) on the Hanoi Stock Exchange (HNX), which saw its NAV falling by 19.4 percent. Thien Viet Securities Joint Stock Company came second with its Thien Viet Growth Fund 2 (TVAM TVGF2) on the Ho Chi Minh stock exchange (VN-Index) dropping 11.6 percent. Other funds and investors in the negative growth list include U.S.-based VanEck Vectors Vietnam ETF (VNM ETF), Passion Investment, Pyn Elite Fund, the TCEF fund of Techcom Capital Co. Ltd, SSI Sustainable Competitive Advantage Fund (SSI SCA), VCBF Leading Investment Fund (VCBF-BCF), Vietfund Management Company (VMFVF4) and Vietnam Enterprise Investment Limited (VEIL), managed by Dragon Capital Group. Why this … [Read more...] about Big players hit hard by unstable stock market in Vietnam
Nguyen Duy Hung, chairman of SSI Securities, a leading Saigon broker, said that with a drop of over 20 percent from its peak, when the VN-Index climbed to 1,204 points on April 9, 2018, Vietnam’s stock exchanges have entered a bear market. The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost 1.52 per cent to end Thursday at 878.22 points. On Friday afternoon, it rose to 880.9 points. Perhaps it will take between 8 to 11 months for the market to recover, Hung said. "Historical data suggests that it would take 21 months for a bear market to recover its old peak after hitting bottom." But the SSI chairman said the main challenges facing the stock market in 2019 include worries posed by the escalation of the U.S.-China trade war, and increasing geopolitical risks. "At this point, no one can say how this war will unfold or predict how widespread the impact will be. Along with the decline in oil prices signaling difficulties of the world economy, the rise in geopolitical … [Read more...] about Experts express cautious optimism for Vietnam stock market
German IPOs Up until recently Germany was missing out on an IPO boom. But now businesses from pizza makers to mail-order pharma firms are heading to market. Published on June 1, 2017 5:09 pm The German stock market is desperately in need of some new blood. While initial public offerings, known as IPOs, to the stock market have been booming worldwide, the central European nation seems to be sailing through the doldrums. According to news agency Thomson Reuters, global IPOs totaled $32.8 billion in the first quarter – the strongest beginning of a year since 2015. In Europe, there was a 29 percent increase from the previous year. But in Germany, the only significant IPO this year has been that of electric motor and automation specialist Aumann in March. Still things are looking up. “The first quarter was disappointing, but there are now around ten to 15 companies in the starting blocks,” said Dirk Busch, a partner with law firm and market consultancy Hengeler … [Read more...] about Pizza and Drugs for the Stock Market
StockX, an online marketplace for rare kicks including Jordans and Yeezys, allows users to track shoe collections like asset portfolios and brands to hold "IPOs" for new products. In June, the startup hit a new milestone, notching a billion-dollar valuation after raising the largest round of venture capital funding in Michigan history, according to data provider PitchBook. Now the company is sharing more on its strategy to ride the booming sneaker craze and its effort to eliminate retail pricing, not just for limited-edition items. StockX's website looks more like trading platform Fidelity than it does Adidas. If you click on a pair of cream white Yeezys, you'll see how much its sale price has fluctuated over the last 12 months, a "ticker," a 52-week high and a gauge for price volatility. "Demand has always been a guess, a forecast, an estimate, a projection off of last year — except in the stock market," Josh Luber, StockX's co-founder and former CEO told CNN Business in a … [Read more...] about This billion-dollar startup is turning sneakers into a ‘stock market’