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Stocks: Multiple trading accounts possible from Aug 1
Investors will be allowed to have multiple trading accounts at stock brokerages and to sell and buy the same shares within a trading session from August 1, a new Finance Ministry directive said.
The ministry will allow investors to authorize securities companies to sell and buy shares on their behalf in August as well. For the first time, the Finance Ministry has also given the green light to margin trading, which means investors can borrow money from brokerages to buy shares.
Vietnam launched its stock market in 2000. But it has so far allowed investors to only have one trading account. Investors are also banned from buying and selling the same shares on the same day.
The new rule on multiple account trading means investors no longer have to break the law to open many accounts or ask others to run their accounts, Nguyen Son, an official of the State Securities Commission, was quoted by newswire VnEconomy as saying.
This will allow authorities to have a better idea of trading activities and also monitor the market better, he said.
tuoitrenews, VnEconomy, Thanh Nien
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