The Ho Chi Minh Stock Exchange plans to create one more index in Julyfor the benefit of investors, fund managers, and securities companies,an exchange official said.
Le Hai Tra, HOSE's standing deputygeneral director, said the VN-Sector index would be based on the GlobalIndustry Classification Standard developed by Morgan Stanley CapitalInternational (MSCI) and Standard & Poor's to help enhanceinvestment research and asset management for financial professionals.
SinceGICS is popular among investors around the world, it would help maketrading at the HCM City exchange more foreign investor-friendly, hesaid.
The new index would also help securities companies and fund management firms create new products based on it, he said.
HOSE now has the benchmark VN Index and VN AllShare, VN 100, VN Midcap, and VN Smallcap indices.
MSCIis a premier provider of global indexes and benchmark-related productsand services, while S&P is an international financial data andinvestment services company and a leading provider of global equityindexes.
Tra hoped that with the foreign ownership limit inlisted firms (currently 49 percent, and 30 percent in banks) yet to beraised, allowing foreign investors to buy NVDR (non-voting depositoryreceipt) shares in companies where the limit has been reached would makethe market more attractive for them.
Last year trading was worth 536.462 trillion VND (25.3 billion USD), around twice the 2013 figure.
Foreigninvestors' buying totalled 68.48 trillion VND and selling, 65.59trillion VND. The figures in 2013 had been 44.68 trillion VND and 39.18trillion VND.-VNA
Le Hai Tra, HOSE's standing deputygeneral director, said the VN-Sector index would be based on the GlobalIndustry Classification Standard developed by Morgan Stanley CapitalInternational (MSCI) and Standard & Poor's to help enhanceinvestment research and asset management for financial professionals.
SinceGICS is popular among investors around the world, it would help maketrading at the HCM City exchange more foreign investor-friendly, hesaid.
The new index would also help securities companies and fund management firms create new products based on it, he said.
HOSE now has the benchmark VN Index and VN AllShare, VN 100, VN Midcap, and VN Smallcap indices.
MSCIis a premier provider of global indexes and benchmark-related productsand services, while S&P is an international financial data andinvestment services company and a leading provider of global equityindexes.
Tra hoped that with the foreign ownership limit inlisted firms (currently 49 percent, and 30 percent in banks) yet to beraised, allowing foreign investors to buy NVDR (non-voting depositoryreceipt) shares in companies where the limit has been reached would makethe market more attractive for them.
Last year trading was worth 536.462 trillion VND (25.3 billion USD), around twice the 2013 figure.
Foreigninvestors' buying totalled 68.48 trillion VND and selling, 65.59trillion VND. The figures in 2013 had been 44.68 trillion VND and 39.18trillion VND.-VNA
