VPS, SSI top securities broker list in first six months

VPS Securities is Vietnam's top market share holder, followed by Saigon Securities and VNDirect, among the top ten securities brokers listed by the country's main bourse, Ho Chi Minh Stock Exchange.

VPS Securities JSC remained in the top spot with a 17.59% market share in the first half of the year though its second quarter share dipped marginally.

SSI Securities Corporation remained in second position, but increased its market share from 9.66% in Q1 to 10.02% in Q2 to end the half with 9.81%.

VNDirect Securities Corporation remained in third place with 7.99% during the year.

In the top 10, Ho Chi Minh Securities climbed past Techcom Securities JSC to fourth position in Q2, with their half-year market shares being 5.58% and 5.47%, respectively.

Mirae Asset, Viet Capital Securities JSC, MB Securities, KIS Vietnam Securities, and FPT Securities rounded off the top 10.

In the year to date, especially since April, the VN-Index has witnessed a significant decline to fall below the 1,200-point mark, a dip of over 20%, to make Vietnam one of the world's worst-performing stock markets.

Data from Bloomberg showed that the index closed June at a price to earning ratio (P/E) of 13, or below the 10-year average of 15. At the same time last year, the P/E was over 19.

The market capitalisation tumbled by more than VND1,220 trillion ($52.2 billion).