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Share trading rules may be eased   2009-04-28 - Bloomberg

Share trading rules may be eased
Vietnam may allow investors to buy and sell the same stock within a trading day to boost turnover and “increase liquidity,” the State Securities Commission said.


Investors may also be allowed to open multiple trading accounts, Nguyen Doan Hung, deputy chairman of the commission, said in a telephone interview Monday from Hanoi.

They are currently limited to one account in the country and are only allowed to sell shares three days after buying them at the earliest.

The VN-Index, a measure of 181 leading shares at the Ho Chi Minh Stock Exchange, the country’s main bourse, slid 66 percent last year, making it the worst performer in Asia.

The index has rallied more than 33 percent since reaching a four-year low on February 24.

“The new measure will create more chances for investors to buy and sell shares, and it will definitely boost the liquidity of the market when it gets approval,” Hung said.

The State Securities Commission will submit draft measures to the Ministry of Finance this week for approval, Hung said.

Trading volume at the Ho Chi Minh City bourse exceeded 67 million shares for the first time on April 17, nine years after Vietnam started its first stock trading center.

The commission is also considering an extension of trading hours to the afternoon beyond the current 11 a.m. close, according to Hung.

“The stock markets currently trade for about two hours only,” said Nguyen Van Dung, chief executive officer of Tan Viet Securities. “That limits investors a lot.”

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