The Ho Chi Minh City Stock Exchange has announced the top 10 largest securities companies this year.

VPS Securities Joint Stock Company remained in top spot with a 17.59 per cent market share in the first half of the year though its second quarter share dipped marginally.

SSI Securities Corporation continued to be in second position, but increased its market share from 9.66 per cent in Q1 to 10.02 per cent in Q2 to end the half with 9.81 per cent.

VNDirect Securities Corporation remained in third place with 7.99 per cent during the year.

In the top 10 Ho Chi Minh Securities climbed past Techcom Securities JSC to fourth position in Q2, with their half-year market shares being 5.58 per cent and 5.47 per cent, respectively.

Mirae Asset, Viet Capital Securities JSC, MB Securities, KIS Vietnam Securities, and FPT Securities rounded off the top 10.

In the year-to-date, especially since April, the VN-Index has witnessed a significant decline to fall below the 1,200-point mark, a dip of over 20 per cent, to make Viet Nam one of the world's worst-performing stock markets.

The liquidity has also plummeted. The average daily trading value on HOSE in June was only VND13.18 trillion (US$564.53 million), the lowest in a year and down 57 per cent from the peak of nearly VND1 trillion ($42.77 million) in November 2021.

Data from Bloomberg showed that the index closed June at a price to earning ratio (P/E) of 13, or below the 10-year average of 15. At the same time last year the P/E was over 19.

The market capitalisation tumbled by more than VND1.22 quadrillion ($52.2 billion), with HCM City alone losing VND1.08 quadrillion. — VNS