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More and more securities accounts opened
Nearly 1,000 accounts were newly opened in March 2009 at Sacombank’s Securities Company (SBS), which also had transactions in the same month. Meanwhile, the company has also reported the increases in income from brokerage fees.
It seems that the investors’ confidence has returned to the stock market. According to Nguyen Ho Nam, General Director of SBS, in the first two months of the year, the total transaction value of the two trading floors was between VND 300-400 billion.
Meanwhile, the value surged to VND 900 billion-1 trillion in the last month or 3-4 times higher than the average level in previous months. Nam said that SBS in particular and securities companies in general have seen the income from brokerage fees increase by three times.
Thang Long Securities Company has also reported the satisfactory business result with 5% of new investors having opened accounts. According to the Thang Long Securities Company’s General Director Le Dinh Ngoc, the existing accounts have seen higher transaction values, helping create higher liquidity on the market.
The stock market has just escaped from gloomy days with liquidity improved. The market on April 7 witnessed the VN Index making new records with nearly 50 million shares transacted, worth VND 1.26 trillion. Backed by the big demand, the stock index on HCM City bourse easily conquered the threshold of 300 points and then surged to 320. Trading floors have been full of investors these days who have come to make transactions and discuss the market performance. Ngoc related that his staff has become more enthusiastic, working with smiles on their lips.
With the stock market thriving, securities companies have been trying to lure more clients with many attractive offers. General Director of VIS Pham Linh said that VIS is compiling a report on potential share items, thus helping investors have more information for their investment decisions.
At VIS, the investors, who opened accounts one or two months ago in anticipation of the stock market bounce, have been pushing up transactions, which had led to the brokerage fee to increase by two folds. However, Linh said that investors are not really interested in derivatives services, including repo, as they have learned lessons from their losses in the past.
Bui Van Quang, Director of SME Securities Company, HCM City Branch, has reported that the number of new accounts opened in the last month increased significantly. However, only experienced investors can lead the market.
Despite the sharp increase of number of transactions, securities companies do not intend to employ more staff, as the operation of the online transaction system can deal with the high number of transactions.
The stock market has heard a lot of good news. The Government has announced the second economy stimulus package. Analysts have given optimistic forecasts about the national economy, while investors’ confidence has returned. However, experts are all keeping cautious when they are asked how long the market’s excitement will last.
After the first three months of the year, the VN Index rose from 313.34 points on January 2 to 322.36 points on April 8 (+ 2.87%). The prices of many share items have increased significantly by over 50%, like ITA, PPC and REE. Being attracted with the large profit, a lot of investors have decided to inject money in stocks instead of staying as outsiders.
VietNamNet, VNE
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