26.2 C
Ho Chi Minh City
Wednesday, June 26, 2024

Vietnam’s stock market cap to GDP reaches 68%

The Saigon Times

Must read

HCMC – Vietnam’s stock market capitalization had amounted to VND6.93 quadrillion by late last month, equivalent to 68% of the country’s GDP, according to the Ministry of Finance.

The VN-Index, Vietnam’s benchmark stock market index, hit 1,267.68 points on May 27, up 4.8% against the end of April and 12% versus the start of the year. The market has 738 listed stocks and fund certificates on two key stock exchanges, and 870 stocks registered on the Unlisted Public Company Market, or UPCoM.

There are over 7.81 million stock investment accounts. The average daily trading value in May was VND24.7 trillion, with a five-month average of VND24.1 trillion, a 37% rise from last year.

The Ministry of Finance is working on major initiatives to develop and restructure the securities market, including creating a capital trading platform for innovative startups.

The ministry aims to strengthen oversight of public companies and securities businesses to ensure healthy market growth.

The bond market has 458 listed bonds with an average daily trading value of VND10.6 trillion, a 15.4% increase over April. The five-month average trading value was over VND10 trillion, a 54% rise against last year.

As of May 24, 33 enterprises issued VND57.6 trillion of private corporate bonds, double the amount from the same period last year.

The real estate sector accounted for 51% of these issuances, while financial institutions made up 36%. The average coupon rate on these bonds is 9% per year with an average term of 3.9 years. Early bond buybacks totaled VND43 trillion, down 35% from the same period in 2023.

In the insurance sector, total premium revenue for the first five months of the year was put at nearly VND88 trillion.

By the end of May, total assets of the insurance sector were estimated at VND948 trillion, a 9% pickup over the previous year. The insurance sector’s reinvestments into the economy amounted to an estimated VND787 trillion, up by nearly 9% compared to last year.

More articles


Please enter your comment!
Please enter your name here

Latest articles