Brokerage firms and market experts remain pessimistic about market trading this week as investors are running out of supportive information while international stocks continue being weighed down by the novel coronavirus (COVID-19)-related concerns.
Brokerage firms forecast a turbulent trading week for Vietnamese stocks this week with the market witnessing wide divergence among groups of stocks and may experience some alternate volatility and corrections while moving up.
SSI Securities Incorporated (SSI) has re-claimed its crown on the Ho Chi Minh Stock Exchange (HOSE), with the highest market share of stock and fund certificate broking among brokerage firms.
Brokerage firms remain sceptical about market trading this week as investors are running out of supportive information while international stocks continue being weighed down by uncertainties over the global economy.
Sai Gon-Ha Noi Securities Co (SHS) has displaced Saigon Securities Inc (SSI) to be the leader among the 10 brokerage firms with the highest third-quarter market share on the Ha Noi Stock Exchange (HNX).
Vietnamese shares may extend rallies this week on expectations that
recently improved crude prices will help boost energy stocks, while
investor confidence rises on stable US interest rates, brokerage firms
wrote in their weekly forecasts.
More than 30 brokerage firms, about 30 per cent of all brokerage firms,
will be suspended if they record combined losses equal to half of the
capital or their equity is lower than the legal capital required to
operate their businesses.
The legal framework for the operation of insurance brokerage companies
will be improved to enhance their competitiveness, according to the
Insurance Supervisory Authority under the Ministry of Finance.
The Prime Minister last Friday issued Decree 42/2015/ND-CP on
derivatives and the derivative trading market in Viet Nam, which will
become valid next month.