After a period of strong stock market growth, many open-ended equity funds are becoming more cautious and increasing their cash positions, with some holding over half of their total assets in cash.
Bao Viet has invested trillions of dong in stocks and is losing over a hundred billion, while Bao Minh has to set aside provisions for 28 out of 33 stocks purchased.
Major Vietnamese brokerage firms like SSI, TCBS, VPBankS, and VPS are planning to increase their capital in the near future, ahead of a potential market upgrade in October.
The Ministry of Finance proposes 5 trillion VND as the minimum capital for securities companies to establish organizations operating in financial centers.
Vietnam has met the FTSE upgrade criteria through reforms designed to facilitate foreign investment flows into the market, according to Finance Minister Nguyen Van Thang.
Investing based on rumors, focusing only on large corporations, selling profitable investments prematurely, and hesitating to cut losses can lead to regrettable mistakes in the stock market, according to Vo Van Huy from DNSE.
261 stocks fell, equivalent to nearly 73% of the HoSE, causing the VN-Index to drop 14 points during the morning session, briefly approaching 1,600 points.
By the end of August, the stock market had over 10.75 million accounts, an increase of more than 257,000 compared to the previous month, mainly due to new accounts opened by individual investors.
SSI will hold an extraordinary general meeting to discuss a plan to offer 415.5 million shares, aiming to increase its charter capital to the highest level in the securities industry.
