Stock market capitalization equivalent to 79.3 percent GDP

SGGP 15/03/2018 10:57

Positive changes in the stock market in the first two months this year have helped capitalization top VND3,970 trillion (US$174.34 billion), up 13 percent over last yearend and equivalent to 79.3 percent Gross Domestic Product (GDP), reported by State Securities Commission of Vietnam (SSC).

Last year, the Vietnamese stock market capitalization was VND3,500 trillion (US$154 billion) increasing 80.5 percent over 2016 and accounting for 70.2 percent GDP in 2017.

According to the Ministry of Finance, in February this year the VN-Index increased 13.9 percent over the end of 2017, exceeding 1,121 points. The market liquidity also strongly hiked.

Since early this year to February, total transaction value averaged over VND19.5 trillion a session, up 38 percent over 2017. Of these, stake transaction value topped VND9 trillion a session, raising 79 percent compared to the average growth rate last year.

After topping ten year high to reach 1,130 points on the previous session, the VN-Index continued increasing 4.78 points to 1,138.09 points on March 14 with 147 stocks gaining, 142 declining and 66 unchanged.

Closing the morning session in Hanoi, the HNX-Index was up 0.77 point to 130.43 points with 90 stocks up, 83 down and 212 trading water. Total market transaction value neared VND8.4 trillion.

By NHUNG NGUYEN – Translated by Hai Mien