While stocks of many enterprises and even banks have dropped to below face values, the bond market has warmed up as enterprises raced to mobilize capital through bond issuance, especially small enterprises.
Real estate firms issued corporate bonds heavily in the first half of this year, accounting for 27 percent of total number of issued corporate bonds amid the scheme to limit credit into real estate sector of the Government and the State Bank of Vietnam.
Mr. Pham Hong Song, vice chairman of the State Securities Commission of Vietnam (SSC), announced at a press conference on June 24 in Ho Chi Minh City that covered warrant will be officially traded on Vietnam’s stock market since June 28.
Amid the context that the stock market was gloomy, in the first two weeks of June, foreign investors net bought nearly VND560 billion, of which they net bought nearly VND500 billion on the Ho Chi Minh City Exchange alone.
Foreign investors focused on buying blue-chip stocks and returned to net buy more than VN210 billion in the last trading session in May on May 31 but failed to buoy the market due to strong selling pressure from local investors.