HOSE: Top Five Stock Brokers Hold 40 per cent Market Share
The Ho Chi Minh Stock Exchange (HOSE) announced that five biggest securities firms as members on the exchange currently account for up to 40 per cent of the market share in stock transactions.
The remaining firms are struggling to survive amidst the slumping market.
Financially strong brokerage members which were admitted in 2008 have helped raise the average registered capital of one securities firm to VND197 billion (US$11.6 million) from VND156 billion in 2007, the exchange said.
Twenty five out of 93 brokers on the HOSE reported profits last year. The average loss was about VND14.2 billion, which forced them axe staff and restructure business.
The local stock market is now home to 103 stock brokers. (Securities Investment)
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