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Major players account for 50% of sales
Ten securities companies accounted for almost 50 per cent of all shares sold on the HCM City Stock Exchange during the second quarter of this year.
The exchange's latest report shows that Thang Long Securities Company (TSC) again topped the list with 10.85 per cent of sales – an increase of 1.48 per cent on the previous quarter.
It was the third quarter in succession that the broker has increased its sales.
Saigon Securities Inc (SSI) secured 8.15 per cent of sales and HCM City Securities Company (HSC), 6.58 per cent.
But both companies suffered a decline in comparison with the first quarter of the year.
Capacity to provide financial services for securities companies seems to have contributed to the higher sales because three of the top ten brokers are subsidiaries of commercial banks.
TSC is affiliated with the Military Bank, Sacombank Securities Company (SBS) is a subsidiary of Sacombank and the ACB Securities Company (ACBS) the Asia Commercial Bank. The former was ranked fourth with 6.42 per cent of sales and latter sixth with 3.98 per cent.
FPT Securities Co (FPTS) was fifth with 4.13 per cent of sales and VNDirect Securities Company (VNDS) 7th with 3.05 per cent.
Newcomer Hoa Binh Securities Company (HBS) won a place in the top 10 for the first time with a market share of 2.41 per cent. The 8th-ranked firm, established in 2008, tripled its investor accounts last year after raising charter capital to VND300 billion (US$15.9 million). Bao Viet Securities Company (BVSC) was ninth with 2.18 per cent and Kim Eng Viet Nam Securities Company (KEVS) tenth with 2.12 per cent.
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