Customs creates maximum facilitation for agricultural exports Goods imported from export processing enterprises must pay tax Saigontex 2023 attracts over 1,300 domestic, foreign businesses

HCM City stock market remains strong, momentum to return with system upgrade

Source: VNA

Source: VNA

See the author's posts
15:31 | 05/07/2021 Finance Follow english.haiquanonline.com.vn on
The Ho Chi Minh City stock market maintained its strong growth momentum last month.

Investors look at stock prices on a laptop. HCM City stock market remains strong, momentum to return with system upgrade. — Photo vneconomy.vn

The Ho Chi Minh City stock market maintained its strong growth momentum last month.

The benchmark VN Index closed the month at 1,408.55 points, up 6.06 per cent for June and 27.6 per cent in the year to date.

Some sectors saw even sharper growth: real estate (VNENE) was up 9.03 per cent, utilities (VNUTI) gained 8.56 per cent and consumer goods (VNCONS) rose by 6.3 per cent.

Besides, liquidity continued to rise, with average trading value and volumes per session jumping to over VNĐ 23.68 trillion (US$1.03 billion) and 735.16 million shares, an increase of 7.94 per cent and 4.73 per cent over May.

In the first half of the year trading value and volume per session were VNĐ19.64 trillion ($853.74 million) and 704.06 million shares, 198.44 per cent and 106 per cent up from 2020.

On June 4 liquidity reached a record VNĐ30.73 trillion ($1.33 billion).

New trading system

Liquidity is forecast to surge once a new trading system created by FPT Corporation takes over on July 5 to help cope with the burgeoning volumes that had the old system struggling.

The system will have a capacity of 3 - 5 million transactions a day, three times higher than the old one. It also has a mechanism to allocate orders to securities firms to avoid congestion.

It is expected to remove one of the biggest hurdles to the market's momentum, strengthening the uptrend.

In the last six months a surge in orders, which went well above the limit of 900,000 a day, has been causing frequent crashes, causing frustration among investors. — VNS

Source: VNA
vietnamnews.vn
Tags:
HCM City stock market HCM City stock market system upgrade

Related News

Consider raising the level of penalties to ensure fairness and transparency in the stock market

Consider raising the level of penalties to ensure fairness and transparency in the stock market

13:27 | 04/04/2023 Finance

VCN - Mr Pham Hong Son, Vice Chairman of the State Securities Commission, discussed solutions to improve the capacity, improve fairness and transparency of the stock market.
Improve the fairness and transparency of the stock market, protect investors against volatility

Improve the fairness and transparency of the stock market, protect investors against volatility

09:31 | 26/03/2023 Finance

VCN - At the seminar "Vietnam stock market development strategy 2021-2030, challenges and vision", co-organized by the State Securities Commission (SSC) and Japan International Cooperation Agency (JICA) on March 21, the experts focused on summarizing the "Capacity building project on improving the fairness and transparency of the Vietnamese stock market". In addition, they discussed the stock market development strategy shortly.
Public investment to be the foundation for the development of the stock market

Public investment to be the foundation for the development of the stock market

10:11 | 28/03/2023 Import-Export

VCN - Effectively implementing public investment is considered one of the most feasible solutions at the moment to support economic recovery and development in 2023, thereby helping to create a foundation for the development of Vietnam's stock market in the long run.
HCM City set an objective of 100% of e-invoices from cash registers

HCM City set an objective of 100% of e-invoices from cash registers

09:43 | 21/03/2023 Finance

VCN - The People's Committee of Ho Chi Minh City issued a document directing affiliated departments, branches and localities to focus on implementing solutions to ensure 100% of e-invoices initialized from cash registers in 2023 for groups of taxpayers subject to implementation.

Latest News

Corporate bonds worth 1.1 billion USD issued in March

Corporate bonds worth 1.1 billion USD issued in March

13:55 | 06/04/2023 Finance

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.
Tax revenue is estimated at VND 426,922 billion in the first quarter

Tax revenue is estimated at VND 426,922 billion in the first quarter

09:56 | 06/04/2023 Finance

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion, equaling 30.9% of the estimate, up 5.3% over the same period in 2022.
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

14:47 | 04/04/2023 Finance

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.
Central bank starts huge credit package for social housing projects

Central bank starts huge credit package for social housing projects

14:42 | 04/04/2023 Finance

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.

More News

In Q1, State revenue estimated to rise by 1.3%

In Q1, State revenue estimated to rise by 1.3%

13:28 | 04/04/2023 Finance

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.
Central bank cuts policy interest rates to spur growth

Central bank cuts policy interest rates to spur growth

17:43 | 02/04/2023 Finance

The State Bank of Vietnam (SBV) announced it would reduce several policy interest rates from April 3, the second cut within one month, the regulator announced on its website March 31 night.
Ensure policies to attract investment when implementing global minimum tax

Ensure policies to attract investment when implementing global minimum tax

10:33 | 02/04/2023 Finance

VCN - On the afternoon of March 30, in Hanoi, the Ministry of Finance held a regular press conference in the first quarter of 2023, chaired by Deputy Minister of Finance Nguyen Duc Chi. Many issues related to the tax field were discussed and answered at the conference.
SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

20:30 | 01/04/2023 Finance

The State Bank of Vietnam (SBV) has suggested the Government to issue a revised decree on foreign investors buying shares from Vietnamese credit institutions.
Solutions to attract FDI when implementing the global minimum CIT

Solutions to attract FDI when implementing the global minimum CIT

11:38 | 01/04/2023 Finance

VCN - On March 29, the Vietnam International Arbitration Center (VIAC) and the Center for International Integration, the Ho Chi Minh City Institute for Development Studies, jointly held a seminar on Global Minimum Corporate Tax – outlook and challenges in attracting foreign investment (FDI) in Ho Chi Minh City.
Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

13:43 | 31/03/2023 Finance

VCN – The promulgation of Vietnam's Decree on Vietnam's special preferential import tariff to implement the Vietnam-Cuba Trade Agreement for 2022-2027 creates a stable and open legal framework, facilitates import and export activities, brings expected great benefits to the business community of the two sides, promote two-way trade turnover and develop Vietnam-Cuba trade relations.
Being many "hot" issues at the general meeting of shareholders of banks

Being many "hot" issues at the general meeting of shareholders of banks

09:24 | 30/03/2023 Finance

VCN - International Commercial Joint Stock Bank (VIB) will be the first bank to hold a general meeting of shareholders this week, and then April will be the "peak" for banks to deploy.
Bringing the policies on reducing land rent and water surface rent into life

Bringing the policies on reducing land rent and water surface rent into life

15:41 | 29/03/2023 Finance

VCN - The tax sector is drastically implementing dissemination and support to make the policy of reducing land rent and water surface rent in 2022 fully effective.
The more delayed the investment disbursement is, the more accumulated the capital expenditure will be

The more delayed the investment disbursement is, the more accumulated the capital expenditure will be

10:22 | 29/03/2023 Finance

VCN - According to Dr Nguyen Dinh Cung, former director of the Central Institute for Economic Management (CIEM), amid the downtrend of many of Vietnam's economic growth drivers, public investment is still expected to be the main driver for economic growth recovery in 2023.
Read More

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read
Corporate bonds worth 1.1 billion USD issued in March

Corporate bonds worth 1.1 billion USD issued in March

13:55 | 06/04/2023 Finance

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.
Tax revenue is estimated at VND 426,922 billion in the first quarter

Tax revenue is estimated at VND 426,922 billion in the first quarter

09:56 | 06/04/2023 Finance

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion,
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

14:47 | 04/04/2023 Finance

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.
Central bank starts huge credit package for social housing projects

Central bank starts huge credit package for social housing projects

14:42 | 04/04/2023 Finance

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.
In Q1, State revenue estimated to rise by 1.3%

In Q1, State revenue estimated to rise by 1.3%

13:28 | 04/04/2023 Finance

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.
Mobile Version