Evening financial news on 16/6/2023

VN-Index plunged at the end of the session, the matching liquidity on HoSE was over 20,000 billion dong

Session 16/6, VN-Index dropped 1.75 points, or 0.16%, down 1,115.22 points.

Banking stocks were clearly divided as VCB increased by 1.45%, STB increased by 4.32%, SHB increased by 1.2% but CTG decreased by 1.72%, VPB decreased by 0.76%, and TCB decreased by 0.31%. .

Securities stocks traded quite positively as SSI increased by 1.56%, VND increased by 1.57%, VCI increased by 2.18%, HCM increased by 1.9%, VIX increased by 2.35%, CTS increased by 1.07 %.

Real estate division. Accordingly, BCM increased by 1.5%, AGG increased by 2.91%, DIG increased by 1.22% but VNM decreased by 0.88%, NVL decreased by 2.3%, VRE decreased by 1.3%, VPI decreased by 2.05 %, TCH fell 1.14%, ITA fell to the floor.

The manufacturing group also differentiated, according to which, VNM down 0.3%, MSN down 0.65%, SAB down 2.52%, GVR down 1.39%, DGC down 1.76%, DHG down 1.35 %, SBT decreased by 2.37%, VHC decreased by 1.96% while HPG increased by 1.3%, VCF increased by 1.01%, TLG increased by 6.19%, DBD increased by 3.02%.

Energy, retail and airline stocks traded poorly. Although GAS decreased by 1.14%, POW decreased by 0.37%, PLX decreased by 2.87% but PGV increased by 0.2%; VJC dropped 1.65% while HVN stood at the reference price; MWG, PNJ and FRT decreased by 0.84%, 0.68% and FRT decreased by 0.8%, respectively.

The whole HoSE had 170 stocks of increasing price, 54 stocks of standing at the reference price and 258 stocks of decreasing. Order-matching liquidity was high, reaching 20,355 billion dong.

Just took office as CEO, Mr. Le Van Nam set aside 18 billion to buy HBC shares

The transaction is expected to be carried out from June 20 to July 19, through which Mr. Le Van Nam will increase his ownership in Hoa Binh from 30,010 shares to 2.03 million shares (equivalent to 0.74 shares). % of capital).

Closing the session on June 15, HBC shares were priced at 9,130 ​​VND/share. Temporarily calculated at the above price, Mr. Le Van Nam will have to spend about 18.2 billion VND to complete the transaction to buy the registered shares.

Le Van Nam’s move comes in the context of HBC preparing to hold the 2023 Annual General Meeting of Shareholders on June 27.

Mr. Le Van Nam has just been appointed as General Director at Hoa Binh Construction since June 1, 2023. Previously, this position has been vacant since July 2022, after Mr. Le Viet Hai’s son, Mr. Le Viet Hieu, resigned.

It is known that Mr. Le Van Nam was born in 1976, permanently residing in Thua Thien Hue province, graduated in Civil Engineering, Ho Chi Minh City University of Technology. In 2001, he started working at HBC as a supervisory engineer, then promoted to deputy commander, commander, project manager.

From 2011 to September 2014, Mr. Le Van Nam participated in the project management of HBC in Malaysia. In October 2014, he returned to Vietnam and assumed the position of Deputy General Director of HBC in the North region.

In July 2019, HBC issued a resolution to unanimously approve Mr. Le Van Nam’s resignation and dismissal from the position of Deputy General Director of the North region. Since then, Mr. Le Van Nam no longer appeared in the leadership list of HBC, until he returned in early June with the position of General Director as mentioned above.

Pre-trading margin requirements: Causing more congestion, making it difficult to upgrade the stock market

According to Ms. Alice Law, General Director of Asian Securities and Financial Markets Association (ASIFMA), the bottleneck that foreign depository banks hope to have a radical solution is the margin requirement. before trading and freezing securities.

Representatives of the two delegations took souvenir photos on the sidelines of the 48th Annual Meeting of IOSCO

This is information shared by Ms. Alice Law in a bilateral meeting with the delegation of the State Securities Commission (SSC) within the framework of the program to attend the 48th Annual Meeting of the International Organization of Securities Commissions. Securities (IOSCO).

At the meeting, the Chairman of the State Securities Commission Vu Thi Chan Phuong informed ASIFMA General Director Alice Law and members about the development, achievements and potentials and investment opportunities of the macro economy in general. and Vietnam’s stock market in particular.

Ms. Vu Thi Chan Phuong also updated ASIFMA members about recent changes in Vietnam’s stock market, such as policy development, management, and discipline enhancement. on the market, solutions to support businesses and investors, solutions to upgrade the stock market from marginal to emerging by the management agency… Besides, the delegation of the State Securities Commission also discussed with ASIFMA on the green and sustainable development orientation of Vietnam’s capital market in the coming time.

Sharing information at the meeting, Ms. Alice Law, General Director of ASIFMA said that the current members of ASIFMA are very interested in the stock market, as well as forecasting the high growth potential of service activities. and foreign indirect investment in Vietnam in the near future.

“In order to unlock and promote this potential, upgrading the stock market from marginal to emerging is a top priority for Vietnam,” emphasized ASIFMA General Director.

According to Ms. Alice Law, ASIFMA members who are currently investing and providing securities services in Vietnam assess that the Vietnamese stock market has almost reached the emerging market level. A number of bottlenecks have now been proposed by the State Securities Commission to solve in terms of policy and policy implementation, such as: increasing access to information in English for foreign investors; publicize and update foreign investors’ ownership ratio; increase the number of listed companies; strengthen inspection in the market to ensure transparency in information disclosure; the procedure for opening a trading account is simplified; strengthen dialogue with investors…

However, one bottleneck that foreign depository banks want to have a radical solution is the requirement of pre-trading margin and securities freezing.

“ASIFMA member depository banks believe that there should be a separate mechanism for guaranteeing payment for securities transactions or granting short-term credit lines to foreign investors to conduct transactions. securities,” said Alice Law.

The General Director of ASIFMA wishes to act as a bridge between the securities management agency and investment organizations, providing securities services to candidly exchange and recommend solutions so that the Vietnamese stock market can be opened. upgraded.

Also at the meeting, the two sides agreed to coordinate with the World Bank to hold a seminar on solutions to upgrade Vietnam’s stock market in August 2023 in Hong Kong on the occasion of the State Securities Commission’s visit to Vietnam. rating agencies FTSE Russel and MSCI.

Both sides agreed that much work remains to be done to promote the sustainable development of the regional and Vietnamese capital markets and maintain the market’s attractiveness for financial services businesses. and foreign investors’ confidence in Vietnam’s stock market.

SSC Chairwoman Vu Thi Chan Phuong also expressed her wish to continue receiving the attention, companionship and cooperation of Ms. Alice Law and members of ASIFMA. “We are willing to listen, exchange and will try our best to respond to the best of our competence to the opinions of foreign organizations and investors, including ASIFMA; At the same time, I hope that ASIFMA will have a positive perspective and spread a positive voice to its members and organizations and investors about Vietnam’s stock market, including efforts to upgrade the market to a new level. management agency,” said Ms. Vu Thi Chan Phuong.

The Asian Securities and Financial Markets Association (ASIFMA), is an independent, regional trade association with approximately 170 member firms including more than 50 multinational banks, more than 40 financial management firms. property and institutional investors and a wide range of stakeholders from the entire financial sector infrastructure.

ASIFMA has launched many initiatives including consultations with national regulatory authorities and exchanges, development of a unified set of industry standards, advocacy for market improvement through policy advisory documents, and cost reduction. business fees in the area.