News

Vietnamese stocks mostly closed at the daily upper limit today as investors rushed to buy shares on expectation that market will rally much further, liquidity stayed high.

Vietnam’s securities regulator will submit plans to merge the country’s two stock exchanges in an effort to improve the quality of listings after the benchmark index fell by the most among Asian equity measures last year.

Ever since the Van Eck ETF Market Vectors Vietnam (VNM) went public on 14 August 2009, the stock price fell 23% to date due to slowing global economic conditions. There are two big reasons why this happened.

Vietnam attracted US$1.23 billion from foreign direct investment (FDI) in the first two months of 2012.

Foreigners were back to be net buyers on HOSE after a single day of net sellers and they also changed to be net sellers on the HNX today. Level of participation dropped.

The UPCoM-Index, the measure of 128 unlisted public companies closed up today following the official bourses, liquidity sharply improved from Thursday trading.

Vietnamese stocks surged today as investors continued to upload shares on hope of a sustainable rally, liquidity stayed at high level.

Back in December 2011, my colleague, Karim Rahemtulla, put Vietnam on your radar. He pegged it as one of the “Top Emerging Markets for 2011.” Which has proven to be a prescient call.

Total outstanding loans in Ho Chi Minh City, as at end-February, 2012, were estimated at VND755.6 trillion, up 0.7% on month, soaring 2.6% on year and rising 0.2% from the end of last year, the municipal General Statistics Office’s data showed.