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November 28, 1996
The State Securities Commission (SSC) was established on November 28, 1996 under Decree No. 75/CP by the Government.
As a govermental body, its functioning is to organize and monitor securities exchanges and securities related issues.
July 11, 1998
The Goverment issued Decree No. 127/1998/QÐ-TTg establishing two securities exchange centers under the SSC:
Ho Chi Minh City Securities Trading Center (HSTC) và Hanoi Securities Trading Center (HASTC).
In which, HASTC was oriented to become an OTC market.
July 28, 2000
HSTC officially went into operation. The first trading session put an important mark in the country's socio-economic life.
Also, HSTC applied a stock price amplitude of 2% instead of 5% as regulated, in
order to put investors’ safe first.
June 13, 2001
HSTC raised the stock price amplitude from 2% up to 7%, aiming at increasing investors’
self-control in and self-responsibility for their investment behavior. That was
the first amplitude expansion in the Vietnamese stock market’s operation history.
October 10, 2001
HSTC reduced the stock price amplitude from 2% down to 7% as one of measures of
holding back the drop-down acceleration of stock prices, stabilizing the market.
March 07, 2002
HSTC increased the number of trading days from 3 to 5 days a week, in order to meet
investors’ trading demand and improve the market liquidity.
August 01, 2002
HSTC raised the stock price amplitude from 2% to 3%, proving the role of a market
regulator while the supply was increasing rapidly due to new listed companies.
January 01, 2003
HSTC raised the stock price amplitude from 3% to 5%, in order to increase the market
attraction.
May 20, 2003
HSTC reduced the number of shares of a board lot from 100 to 10; put ATO order into
use; increased the number of order matching phases from 1 to 2 phases a trading
session (1st phase from 9h to 9h20, 2nd phase from 10h to 10h30); put-through trading
from 10h30 to 11h; decreased margin rate from 100% to 70%, in order to diversify
opportunities and facilitate investors’ trading.
July 17, 2003
Prime Minister signed Decision No. 146/2003/QĐ-TTg that increases the foreign investors’
ownership room from 20% to 30% of listed shares of a listed company, and from 30%
to 49% of chartered capital of a investment fund management company.
November 28, 2003
Prime Minister signed Decree No. 144/2003/NĐ-CP in replace of Decree No. 48/1998/NĐ-CP
issued on 07, July 1998 in an effort to make the securities market operate organizationally,
safely, publicly, fairly and efficiently, and protect legitimate interests of investors.
February 19, 2004
In an attemp to perform more efficiently the mission of promoting and monitoring the capital market's development,
the SSC was moved into Ministry of Finance on 19 February 2004 under Decree No. 66/2004/NĐ-CP.
March 08, 2005
HASTC officially went into operation marking a new step forward of the market.
July 14, 2005
HASTC launched the secondary exchange, which operated from 9h to 11h on Mondays,
Wednesdays and Fridays, under Decision No. 244/2004/QĐ-BTC by Ministry of Finance,
in step-by-step actualization of HASTC operation model.
September 29, 2005
Decision No 238/2005/QĐ-TTg was issued in replace of Decision No. 146/2003/TTg to
raise the foreign investors’ ownership room from 30% to 49% in an aim to attract
more international investors into the Vietnamese market.
May 03, 2006
Vietnam Securities Depository officially went into operation under Decision No.
189/2005/QĐ-TTg signed on July 27, 2005 to increase the market performance in general,
and the clearing and settlement system in particular.
June 14, 2006
HSTC increased the number of order matching phases from 2 to 3 phases a day (1st
phase from 8h40 to 9h10, 2nd phase from 9h20 to 9h50, 3rd phase from 10h to 10h30)
in order to meet investors’ trading demand.
June 31, 2006
HASTC increased the number of trading days from 3 to 5 days a week, in order to
increase the market liquidity.
November 07, 2006
Vietnam was passed membership to become 150th member of the World Trade Organization,
and would officially join on January 11, 2007. That event made new opportunities
and challenges in the country’s cultural and economic integration course into the
globe, especially with respect to the financial economy.
January 01, 2007
The Securities Law No. 70/2006/QH11 issued on 12/07/2006 became effective in replace
of Decree No. 144/2003/NĐ-CP, making a stable legal environment and developing the
market rapidly and sustainably.
April 20, 2007
The Government issued Decree No. 69/2007/NĐ-CP which stipulates that the foreign
investors’ ownership room is not allowed to exceed 30% of chartered capital of a
local bank.
July 01, 2007
Instruction No. 03/2007/CT-NHNN issued on May 28, 2007 became effective, in which
a credit institution’s total loan amount for securities investment based on stock
collateral is forced under 3% of its total loan amount (deadline for completing
this percentage is on December 31, 2007), in an order to restrict a hot growth and
prevent the commercial banking system from risk.
July 30, 2007
HSTC started using the trading method of continuously order matching in the 2nd
phase, in order to increase the market’s trading capacity and the independence of
each investor.
August 08, 2007
HSTC was converted into Ho Chi Minh Stock Exchange (HOSE) under Decision No. 599/2007/QĐ-TTg
issued on May 11, 2007 in an aim to meet requirements for the market development.
November 20, 2007
The National Assembly passed the Individual Income Tax Law which stipulates that
the income from capital transfer will be imposed 20% of its value, or 0.1% of the
total value of a successful selling order. The law would become effective on January
01, 2009.
February 01, 2008
The Governor of the State Bank replaced Instruction No. 03/2007/CT-NHNN with Decision
No. 03/2008/QĐ-NHNN, in which a credit institution’s total loan amount for securities
investment based on stock collateral is not allowed to exceed 20% of its chartered
capital.
March 03, 2008
HOSE officially extend the trading time of the 2nd phase, namely from 9h to 10h15,
and narrow trading time of the 3rd phase, namely from 10h15 to 10h30, in order to
increase the efficiency of the continuously order matching method.
Prime Minister signed Decision No. 34/2008/QĐ-TTg on the establishment of National
Financial Supervision Commission. The body acts as a counsellor for the Prime in
monitoring and co-ordinating the financial market, including banking, securities
and insurance sub-markets.
March 06, 2008
State Capital Investment Corporation (SCIC) announced the plan of buying some selective
stocks as a move to support the market after seven sharply-dropping sessions in
a row.
March 26, 2008
SSC approved the HOSE and HASTC proposals of narrowing stock price amplitudes down
to 1% and 2% respectively, as one of measures of saving the market in a deeply pessimistic
situation.
April 07, 2008
SSC loosened the stock price amplitudes of HOSE and HASTC up to 2% and 3%, respectively.
May 16, 2008
SSC issued Decision No. 352/QĐ-UBCK on moving all government bonds listed on HOSE to HASTC. According to the document, the delisted date on HOSE would be May 29th, then the listed and traded date on HASTC would be June 2nd.
June 16, 2008
SSC approved the HOSE and HASTC proposals of widening stock price amplitudes up to 3% and 4% respectively. The effective date is from June 19th.
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