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Dividend and securities transfer taxes should be removed to encourage investors and help the stock market develop, said Vietnam Association of Financial Investors.

A Ministry of Finance’s report which has been released recently shows that most of the securities companies incurred loss in the first six months of the year, which is not a surprise to any one at all.

These are some of the leading stories in the official Vietnamese press on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

The UPCoM-Index, the measure of 127 unlisted public companies, fell to fresh all time low as investors were bearish on concerns over economic condition.

SBV should use discount rates rather than interest rates at commercial banks as a tool to curb inflation effectively, suggested Bui Nguyen Hoan, chief representative of SSC.

Vietnam’s stocks came back to the losing track as investors sold shares on concerns over macro economy with stubbornly high inflation and high interest rates.

Foreigners continued to net buy Vietnamese shares on the Hochiminh Stock Exchange today but they turned to net sell on Hanoi Stock Exchange.

The stock market downturn together with the stagnant economic landscape may perhaps drive securities companies to narrow down their operations and head for merger in an attempt to achieve operational efficiency and avoid acquisition.

The “Vietnam Credit Rating Annual Report 2011” rating Vietnam's 596 listed companies to be released soon.