DTCK Exchange, Mr. Cung Tran Vietnam, Research Director of Capital Fund Management Company Vietnam, Council Member 30 HNX Index shared in the stock selection criteria as well as on the basketball HNX30 the only way to use this number.
In Vietnam, in addition to two general index VN Index and HNX Index, with 2 new index represents big companies are HNX 30 and VN30 with only some sectors, due to the Securities or the companies themselves. This fact is no difference compared to the developed markets, sir?
At the market in developed countries, besides the index of the Stock Exchange to provide, financial institutions / private firms also build systems for each market index. Typically, the index system of the FTSE, MSCI and S & P, Dow Jones, Nikkei. Organizations that from his experience providing diverse system indicators, such as indicators of the geographical partition, the size, the sector index, income index and the overall index of stocks and bonds.
It can be said, the only system in the developed world, whether provided by the exchange or the financial institutions / private firms, are aimed at providing tools for market indicators and is the basis for the development of products traded on the index.
In Vietnam's stock market, the formation and development of the index system also follow this general rule. 2 The Stock Exchange announced VN Index and HNX 30 30 is the first step in forming system for Vietnam's stock market index. The Securities and build their business and the individual indices of the different purposes of his. Vietnam Sea with the Securities stock indices Vietnam Sercurities Indexes, including all shares listed on HNX and HOSE, the Vietnam Bond Index Composite Bond Index or the Vietnam Stock Index / Bond Composite Index is the index 2 synthetic stock markets and bonds of Vietnam. National Petro Vietnam (PVN) PVN Construction Index indicators, reflecting share price movements of all the member companies of the Group are listed on the second floor.
HNX 30 has operated for nearly one year, but for many, this is still a new index. Simple words of this indicator and how to use it, he will share how to ĐTCK readers, sir?
30 The index represents the value fluctuation of 1 basket of 30 stocks. The distinctive feature of the 30 stocks are selected with priority criteria for the liquidity of the stock, then the stock's market capitalization. Liquidity is measured by the ratio between the average transaction value in the last 12 months and the market capitalization of shares freely transferable. These shares are freely transferred minus the number of listed shares are not freely transfer ownership as part of the state, limiting the transfer of strategic shareholders (if any), the owner 's largest shareholder ...
A basket of stocks "candidates" will be further screened with restrictions on the industry, such as 1 sector is no more than 20% of the securities in the basket, or the maximum capitalization ratio of 1 share in basketball is no more than 15% of the market value of the basket HNX 30. These limitations reduce the ability to limit the influence of a few individual stocks on the index volatility, it is very likely to occur in Vietnam stock market today, due to the resolution of the scale of the listed companies are too large, especially in the HNX.
Of course, the first criterion is the unregulated stock specific trading halt or before the time of review.
The use of this index depends on each investor, but can be seen, there are two main usage. First, when investors look at the stock basket, can know these are stocks with high liquidity in the northern bourse, which can identify the target shares, as the basis for war investment strategy. Second, the fund management company may be based on indicators to create investment products have a high correlation with HNX30 fluctuations, such as ETF product based on the list of HNX 30.
According to the Hanoi Stock Exchange, the HNX 30 is the first step for the development of new indicators in the Department. As a member of the Board HNX30, he has suggestions for how to improve the Department of the index and build the new index, sir?
After nearly one year operation, the HNX 30 met the initial expectations of the market for a new indicator index, in addition to the composite index HNX Index. But in terms of investment, market conditions have been formed to develop products traded on the index. On 27.12.2012, the Ministry of Finance issued Circular No. 229 established guidelines and fund management portfolio swaps, creating a legal framework for exchange-traded index products. Due to the HNX 30 high correlation with the market index to the index is expected to bring advantages for simulation certificates ETFs represent it in the market and the ability to easily trade by the liquidity of the stock components.
It is argued that, should shrink down HNX HNX 30 10 20 or HNX. What are his views?
In my opinion, the number of shares miniature basket of stocks with the best liquidity floor is not necessary. Market shares on the northern bourse listing has more than 380 stocks. The selection of 30 representative stocks market is high for moderate numbers. The shortened to 20 or 10 stocks in the basket will lose the chance of the other stocks. Hopefully, when the market recovers, the liquidity of the stocks in the index basket HNX 30 in particular and the market in general will be improved.
Looking at basketball HNX 30 shares, investors may know these are stocks with high liquidity on HNX
At the regular meeting dated 04/12/2013, HNX Index Council agreed development strategy HNX index system and index development plan for the year 2013-2014 of the Department. As experts advising, counseling issues for maintaining and operating the index at the Hanoi Stock Exchange, The Council always work closely with the Department of gradually building the index response the needs of the market.
He commented how the prospect of Vietnam's stock market in the near future? According to him, when Vietnam's economy can prosper again and then, companies will block most resilient?
Currently the new world economy showing signs of recovery, demand remains weak, especially with the economy the proportion of outsourcing more and more dependent on investment as Vietnam. But signs of the crisis bottomed out, but can not say for sure that will prosper this year. Stock market can always expect the economy's prospects, therefore, will have many opportunities to come from expectations of economic growth, loose monetary policy, low interest credit.
Listed companies are strongly differentiated. The business has good momentum when the stock market is thriving businesses have stayed in the past. These are strong businesses in the consumer goods industry, health, education, agriculture, manufacturing necessities.
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