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S&P launches index to cover Vietnam’s 10 top firms   2008-09-21 - Reuters

Standard & Poor’s has launched its S&P Vietnam 10 Index to help foreign investors better gauge the largest and most liquid companies listed on the country’s stock exchanges.



The new index comprises consumer discretionary, energy, financial, industrial, information technology, materials and utilities companies, Standard & Poor’s said in a statement.

The top five companies in the index – from the main exchange and the smaller Hanoi market – are FPT Corp. (FPT), Petroleum Technical Services Corporation (PVS), PetroVietnam Drilling & Well (PVD), PetroVietnam Fertilizer & Chemicals (DPM) and PetroVietnam Insurance (PVI).

“The index will provide international investors with access and tradable exposure to the Vietnamese equity markets,” Senior Director Robin Lo of Standard & Poor’s Index Services said in the statement.

“The S&P Vietnam 10 Index is designed to account for foreign investment restrictions and global investors’ requirements of high liquidity and accessibility,” he said.

Companies must have a float-adjusted market capitalization above $50 million and a three-month average daily trading value above US$250,000 to be included in the index, which is rebalanced quarterly to reflect current liquidity and foreign investment restrictions, S&P said.

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