The Vietnamese stock market experienced upheavals in Q1 with the VN Index dropping by 31 percent, and 90 percent of shares decreasing in price.

The latest report on the top 10 securities companies on the HCM City bourse (HOSE) showed that SSI, HSC, Ban Viet Securities and VNDirect continue to be the four companies with the largest brokerage market share.

With the loss of VND292 billion from self-investment activities and increased operation costs, SSI reported modest post-tax profit of VND15 billion for Q1, which is much lower than the VND192 billion profit it gained in Q1 2019.

The stock market slide in Q1 has had a big impact on securities companies’ self-investment operations. Reports all show the sharp decline of income from self-investment.

As of the end of Q1, SSI held portfolio investment worth VND2.058 trillion, with most of the shares belonging to VN30 group. FPT shares are the biggest investment item, which account for 14 percent of total shares it is holding.

As of the end of Q1, SSI held portfolio investment worth VND2.058 trillion, with most of the shares belonging to VN30 group. FPT shares are the biggest investment item, which account for 14 percent of total shares it is holding.

VNDirect also reported a loss of VND41 billion from self-investment activities. Meanwhile, the activities brought profit of VND33 billion to the company the same period last year.

The provisioning against risks has affected the total expenses incurred by the company in the period and led to profit reductions: its post-tax profit in Q1 was 35 percent lower than that of the same period last year.

Unlike SSI, VNDirect did not make big investments in VN30 shares. As of the end of Q1, VNDirect owned VND1.121 trillion worth of FVTPL (fair value through profit or loss), including listed and unlisted shares. As for listed shares, VNDirect mostly invested in shares with small and medium capitalization value such as PTI (23.8 percent) and LTG (10.2 percent).

Ban Viet has also reported unsatisfactory business results in Q1 because of the effects of self-investments.

The company made a modest profit of VND28.8 billion from self-investment activities, which was 7 times lower than the same period last year. It has sold a proportion of MML shares and divested BMM, FPT and MWG.

Unlike the securities companies, Ban Viet Securities put money into many different shares, including real estate shares (KDH and SCR which accounted for 14.1 percent and 23 percent, respectively). It is also holding small amounts of MBB, CTD, VNM and VJC.

HSC is the company with the best self-investment results. It earned VND76 billion from the activities, an increase of 56 percent compared with Q1 2019. This helped HSC obtain the post-tax profit of VND101 billion, up by 23 percent.

Mai Lan

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