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Saigon Securities starts 30-firm index
The country’s largest securities firm Saigon Securities Inc. has launched its SSI30 Index based on 12-month figures from September 17 last year.
The list will be updated on a quarterly basis, according to Le Duc Hung Linh, deputy head of the company’s analysis and investment consultancy.
The SSI30 Index contains 30 companies listed at the HCM City Stock Market Exchange and Hanoi Securities Trading Centre.
Linh said they were selected based on key criteria including market capitalisation and liquidity.
They were all listed at least two months ago.
According to Linh the companies represent 60 percent of the combined market capitalisation of the two exchanges as well as 60 percent of total trading volumes.
They are in basic materials, consumer goods and services, finance, pharmaceuticals, oil, and other sectors.
They included Hoa Phat Group (steel), Asia Commercial Bank, Nam Viet Seafood Company, Hau Giang Pharmaceutical Company, Tien Phong Plastic Company, and Refrigeration Electrical Engineering Corp.
The P/E (Price to earnings) ratio of the Vietnamese market is relatively attractive at 11.6, compared to 14.38 for India ’s BSE sensex and 14.21 for China ’s CSI 300, according to Linh.
He expected the figure to go down to 10.87 this year and 9.6 in 2009 as companies’ earnings rise.
VNA
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