HCMC stock exchange posts record profits

By Phuong Dong   May 17, 2022 | 08:17 pm PT
HCMC stock exchange posts record profits
The Ho Chi Minh Stock Exchange. Photo by VnExpress/Phuong Dong
Ho Chi Minh Stock Exchange (HoSE) reported a tripling of pre-tax profits to a record VND2.54 trillion (US$109.6) million last year thanks to a bullish stock market.

Revenues also tripled to VND3.24 trillion, also the highest in the bourse’s 21-year history.

Transaction fees, which HoSE collects at 0.027 percent, accounted for 92 percent of the revenues.

The results far exceeded the profit and revenue targets of VND648 billion and VND1.06 trillion.

Last year the benchmark VN-Index hit an all-time high of 1,500 points as new investors flocked to the market in record numbers.

Some 1.53 million new domestic accounts were opened, 1.5 times the figure for the four previous years combined, according to the Vietnam Securities Depository.

At the end of March this year there were around 4.9 million accounts, representing 5 percent of the population.

The average daily trading value also tripled last year to VND22 trillion.

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