HOSE reopens after lunar New Year

After a long Tet holiday, the Ho Chi Minh City Stock Exchange (HOSE) held a ceremony to mark its first trading session in the Year of Monkey on February 15.

The opening ceremony of HOSE for the Year of Monkey. (Photo: SGGP)

Mr. Tran Dac Sinh, chairman of HOSE, said that global economy had seen so much turbulence in 2015, especially the fall of several key stock markets. However, Vietnam’s stock market still maintained a moderate growth and attracted foreign indirect investment capital flow, thanks to stable political foundation and macro-economy with improving investment environment. It has become a highlight in regional and emerging markets with a growth of 6.2 percent compared to late-2014. Market capitalization hit VND1.14 quadrillion, up 16.41 percent compared to the end of 2014, accounted for 23.5 percent of gross domestic product estimated to achieve in 2015.
With such results, HOSE targets to expand market scale and liquidity, develop corporate bond market, make debut of covered warrant products, set up indicator of sustainable development so as to step by step prepare required conditions for the upgrade of Vietnam’s stock market.
Mr. Nguyen Thanh Phong, deputy municipal party committee secretary, chairman of the People’s Committee of Ho Chi Minh City, highly appreciated encouraging achievements of HOSE in 2015. Despite economic difficulties that directly affected performance of stock markets, HOSE had showed great efforts and achieved memorable results with total listed shares up to 43 billion shares, worth nearly VND435 trillion, up nearly 29 percent compared to the beginning of 2015.
At the ceremony, HOSE also honored outstanding securities companies. Mrs. Nguyen Thi Lien Hoa, vice chairwoman of the State Securities Commission also highly appreciated the restructure of securities companies. After four years of restructure, securities companies have reduced in quantity but improved in quality.

By Hanh Nhung – Translated by Thuy Doan

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