Vietnam’s 2019 stock market capitalization accounts for 73% of GDP
Vietnam’s 2019 stock market capitalization accounts for 73% of GDP. Photo: baodautu.vn
The stock market cap is equivalent to 72.6 percent of gross domestic product. Vietnam stock market has become an important capital mobilization channel for the economy.
VNIndex, Vietnam’s main stock index, recorded the highest growth rate in Southeast Asia.
Closing the final trading day of 2019, the VNIndex reached 960.99 points, an increase of 7.7 percent against end-2018, higher than other countries in the region including Singapore, Malaysia, Thailand and Indonesia.
However, the market faced low liquidity, reaching $199.4 million per trading session due to international trade instability. With the US-China trade tensions, investors were cautious.
Number of investors’ accounts increased 8.1% against end of 2018 to more than 2.36 million while foreign investors' accounts increased 12,8%.
Last year, foreign investors bought nearly $321.7 million stock, bringing the total value of foreign investors' portfolio to about $36.4 billion, up 11,6% against end of 2018, said the securities commission.
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Bloomberg | Mai Ngoc Chau