Vietnam Will Not Widen Stock Trading Band: SSC Chairman

The State Securities Commission (SSC) has no plan to increase the stock trading band on the securities market, SSC Chairman Vu Bang affirmed with the Lao Dong (Labor) newspaper July 3 despite the hope on wider band among investors.

 

&ldquoWe have not yet discussed this issue in joint meetings although many opinions have also proposed to raise the trading band,&rdquo Bang said.

 

The current band is 3 per cent on HOSE and 4 per cent on HASTC, raised from 2 per cent and 3 per cent respectively from June 19. The move has helped improve the liquidity on the stock market as local investors continued buying on both securities bourses.

 

The VN-index has gone up for ten straight days, closing up 2.2 per cent to 439.68 today [July 4], expected to reach 450 soon. 

 

Bang said if the situation on the stock market and macro-economy is s, the commission will consider widening the stock trading band, possibly by 1 per cent.

 

The Securities Depositary Center said that up to 372 foreign investors, including 30 institutions and 342 individuals ed securities accounts in June. Totally, the center granted the trading codes to 742 foreign institutions and 10,689 foreign individuals as the of June. (Labor, Vietnam Economic Times)