SSI remains at top of HoSE’s 10 largest securities brokerage firms

April 08, 2020 | 12:22
The SSI Securities Corporation has retained its top spot on the Ho Chi Minh Stock Exchange (HoSE)’s list of the 10 leading securities firms in terms of brokerage market share of stocks, fund certificates, and covered warrants (CW) in the first quarter of 2020.
ssi remains at top of hoses 10 largest securities brokerage firms
Illustrative image (Photo: SSI)

SSI held a market share of 12.32 percent in the opening three months, down 1.64 percent from last year, according to HoSE.

Following was the HCM Securities Corp (HSC), whose market share grew to 11.03 percent from 10.54 percent in 2019. In third was the Bao Viet Securities Company (VCSC), which saw its market share grow to 9.7 percent from 8.19 percent last year.

The top 3 was identical to last year’s, despite the impact of the COVID-19 pandemic on the stock market over the last two months.

The benchmark VN-Index ended March at 662.53 points and has plunged 31 percent since the beginning of the year. This is the second-largest quarterly loss ever recorded, with the largest being the 44.25 percent decline posted in the first quarter of 2008.

The current price-to-earnings ratio (P/E) of Vietnamese stocks fell to just 9.8; the lowest for the last five years.

The top 10 also included VNDirect Securities Corporation in the 4th place, Mirae Asset Vietnam (5th), VPS Securities (6th), and MB Securities JSC (7th).

Total market capitalisation on HoSE last year was 3,280 trillion VND (142 billion USD), a year-on-year increase of 14.05 percent and representing nearly 60 percent of the country’s GDP.

Foreign investors were net buyers to the tune of 6.62 trillion VND. Their total trade topped 318 trillion VND, or nearly 16 percent of total transaction value.


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