|Transactions are conducted at the HSTC.|
Many local stock market companies are rushing to lower their transaction fees in a bid to attract more traders and heat up the slum market.
Mr. Nguyen Ngoc Lam, a senior investor living in District 1, said local securities companies have lowered their brokerage fee from 0.5% to 0.45% or even 0.2% (for transaction values of over VND1.5 million) to encourage customers.
Remarkably, the Viet Dragon Securities Company (VDSC) offers a 0.15% service fee for shares of local corporations and 0.05% on Government bonds. Meanwhile, the Habubank Securities Company charges investors 0.15% of their total transaction value on every last session of the week.
However, according to director of the Da Nang Securities Company Nguyen Ngoc Tuoi, it is not low transaction fees but the quality of service that is a prerequisite for encouraging more clients to make transactions.
For that reason, he said, his company has cooperated with many banks to promote loans for stock market investment, and to set up an online transaction floor to create the most favorable conditions for its clients.
Other securities corporations such as Empower Securities (EPS) and the Au Lac Securities Corporation have opened their own training courses for beginning investors, guiding them through the registration procedures and providing them with a basic knowledge of the current market. These courses are free of charge and draw a lot of attention from investors nationwide.
Late last week, the VN-Index lost 2.29 points to close at 1,010.53 but the market’s total trading volume decreased a staggering 31.8% due to an undersupply. Meanwhile, demand stood still at 8.2 million shares and supply plummeted 47.4% to 6.4 million shares. All stocks moved within small margins, leading to a slight fall in the index