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VietNamNews

Capital raising measures $4b in Q1

Update: May, 03/2014 - 09:41
The stock market rebound boosted market capitalisation to VND1,207 trillion, or $57.4 billion, as of the end of March— VNS photo Truong Vi
HA NOI (VNS)— The capital raised through the stock market in the first quarter of this year reached VND85.3 trillion, or US$4.06 billion, representing an increase of 31.51 per cent year over year.

According to the Ministry of Finance, the stock market of Viet Nam made good recoveries in the first three months.

With the VN-Index on the HCM City Exchange soaring by nearly 18 per cent during Q1, following a 22 per cent rise last year, the stock market became the world's second-fastest-growing equity market, according to the financial website Zerohedge, based on Bloomberg's data.

The stock market rebound boosted the market capitalisation to reach VND1,207 trillion, or $57.4 billion, as of the end of March, adding VND258 trillion, or $12.2 billion, in comparison with the end of last year and equivalent to 33 per cent of the nation's gross domestic product.

Statistics showed that the trading value also increased strongly in Q1, averaging VND5.2 trillion, or $247.6 million, per session; 89.7 per cent higher year over year and 92.1 per cent higher than the average figure last year.

According to the finance ministry, the Vietnamese stock market was going through restructuring for a more sustainable development with focus on foreign indirect investment. — VNS


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