Vietnam’s Broker Stocks Get a Boost as Retail Trading Revs Up

📆 9/21/2023 6:13 AM
📰 YahooFinanceCA

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(Bloomberg) -- A dizzying rally in Vietnamese brokerage shares this year is likely to continue as lower domestic borrowing costs boost retail participation in the stock market.Most Read from Bloomberg‘Dead Space’ Co-Creator Departs Startup After Newest Game FlopsPassalacqua in Italy’s Lake Como Is Named Best Hotel in the WorldEx-Goldman Bankers Make a Fortune With Controversial Bet on CoalVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingCanada Reduces Number of Diplomats in I

Some broker stocks have risen multifold, making them among the best performers on the benchmark Vietnam Stock Index, which is up some 20%. SSI Securities Corp., the country’s second-biggest brokerage, has more than doubled, while VNDirect Securities Corp. surged 87% through Wednesday’s close.

“The banking sector has been reducing deposit rates which has led retail investors to focus on investing in the stock market,” and this is positive for the brokerage sector, said Ruchir Desai, a co-fund manager of the AFC Asia Frontier Fund.

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Vietnam’s Broker Stocks Get a Boost as Retail Trading Revs UpA dizzying rally in Vietnamese brokerage shares this year is likely to continue as lower domestic borrowing costs boost retail participation in the stock market.
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