Vietnam Stock Exchange set to have registered capital of US$130 million
Under the decision, the Vietnam Stock Exchange (VNX) would operate under the form of single member limited liability company and 100% owned by the Ministry of Finance.
Under the decision, the Vietnam Stock Exchange (VNX) would operate under the form of single member limited liability company and 100% owned by the Ministry of Finance.
Four public firms have moved their stock listings to the Hanoi Stock Exchange (HNX).
The move is seen as a short-term solution to address the issue of surging orders on the Ho Chi Minh City Stock Exchange (HoSE) that force the stock exchange to halt market trading.
Public firms in subject will have their stocks temporarily suspended for transaction for at least three working days and resume the process on the fourth day on HNX since the last trading session at the HOSE.
The new agreement will help cut short processing time for listed firms and prevent disruption to trading activities.
The Vietnam Association of Finance Investors (VAFI) suggested to select a foreign stock exchange as a strategic shareholder that is responsible for transferring management technologies and training human resources.
The finance ministry plans to adopt the current software system on the Hanoi Stock Exchange for the Ho Chi Minh City Stock Exchange to address the overload, saying the process would take up to four months to complete.
Local investors remain the driving force for the stock market to surpass the 1,200-mark in the coming time.
For 2021, the firm expected Vn-Index to fluctuate in range of 1,070-1,250.
The February figure remained a significant one as this was the shortest month in a year, not to mention that the week-long Tet holiday fell on February.