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US$ 6.52 Billion evaporated on Vietnam main bourse in 2011

The value of Vietnam’s main bourse, Hochiminh Stock Exchange (HOSE), evaporated VND137 trillion ($6.52 billion) from end-2010 to VND454 trillion at the end of last year amid macroeconomic uncertainties and tightening monetary policies.

source: vnbh.com

The benchmark VN-Index lost 27.5% during the year, closing at 351.55 - the record low since May 2009.

The daily average trading volume was nearly 34 million shares valued at VND650 billion last year, dropping 29% and 57% from 2010, the southern bourse said in a report on its website.

As many as 63 out of 102 securities companies being members on the HOSE suffered losses in the first three quarters of last year. Their revenues shrank due to low market liquidity and falling share prices.

As the end of 2011, 53% of the stocks on the HOSE were traded under VND10,000 each, local Vietstock financial website reported.

The number of listed stocks rose from 280 to 306, with 30 new listings and four delisting cases. Among newly-listed companies on the HOSE in 2011, the Military Bank (MBB) was the biggest with a registered capital of VND7.3 trillion, followed by BIDV Securities (BSI) and Petrolimex Insurance (PGI).

Four companies left the exchange, including Vien Dong Pharmaceutical JSC (DVD), Descon (DCC) and Full Power (FPC) that were forced to cancel listing, and Vinpearlland (VPL) delisting to be merged into Vincom (VIC).

The exchange held 11 share auctions, helping companies to mobilize VND672 billion. Meanwhile, listed companies raised VND16.9 trillion from new share offerings.

This year, the main exchange of Vietnam will join hands with local authorities to restructure the stock market and securities companies in order to raise the market transparency and efficiency, and spur sustainable development. Developing new services and products, and improving technology infrastructure remain major tasks of HOSE in 2012, it said.

(Source: www.ssc.gov.vn, HOSE)

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US$ 6.52 Billion evaporated on Vietnam main bourse in 2011

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