Latest news with #FTSERussell
Business Times
14 hours ago
- Business
- Business Times
Vietnam stocks near record on reform hopes, trade deal optimism
[SINGAPORE] Vietnam's stock benchmark is closing in on a record high, fuelled by optimism over sweeping political reforms and clarity on a trade deal with the US. The government is undertaking its biggest administrative overhaul in decades to shrink bureaucracy as Prime Minister Pham Minh Chinh pushes for more than 8 per cent economic growth this year. A trade deal that cut US tariffs on the nation's goods to 20 per cent from 46 per cent in April also clears an overhang for the market. The moves have driven a 19 per cent rally in the Vietnam Ho Chi Minh Stock Index this year, putting the market well ahead of its South-east Asian peers. More gains could follow if Vietnam secures an upgrade to emerging-market status by FTSE Russell. 'Never before have we seen such strong reforms in Vietnam,' said Tyler Manh Dung Nguyen, chief market strategist at Ho Chi Minh City Securities. 'I would allocate more in Vietnam right at the beginning of these changes.' The government is cutting red tape and unnecessary costs to redirect funds to development projects, part of its aim to achieve high-income status by 2045. Its pro-growth policies are luring investors back to the country, reversing sentiment after global funds withdrew a net US$3.18 billion from local stocks last year. Foreign investors bought US$411 million of Vietnamese shares on a net basis in July, the second month of inflows this year, while selling their holdings in Malaysia, Indonesia and the Philippines. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Conglomerate Vingroup JSC, lender Vietnam Joint Stock Commercial Bank for Industry and Trade and Hoa Phat Group JSC are among the biggest gainers on the index this year as investors bet on major beneficiaries of the country's strong growth. The economy expanded 7.52 per cent in the six months to June, according to Vietnam's statistics office, supported by a surge in manufacturing as foreign buyers raced to avoid higher tariffs on sales to the US. 'We became more positive since May as valuations started to look compelling given the forecast earnings growth of about 15 per cent and price-earnings multiples of 10 times in 2026,' said Christopher Leow, chief executive officer at Principal Asset Management in Singapore. Investors are expecting a FTSE reclassification of Vietnam's market to take place as soon as September, which the index compiler projects may draw up to US$6 billion in capital inflows. That would give another boost to the benchmark, which is less than 2 per cent away from its all-time high in January 2022. To be clear, Vietnam's growth outlook remains clouded by a potential slowdown in global growth in the second half of the year. Uncertainty over a 40 per cent US tariff on goods deemed to be transshipped through the South-east Asian nation also weighs on local businesses. Still, the bullish case for Vietnam is hard to ignore. 'What makes Vietnam stand out globally is that it's almost inconceivable it won't become a much bigger economy', and returns on invested capital are much higher than in many other countries, said Johannes Loefstrand, portfolio manager at T Rowe Price who manages a frontier markets fund with its largest allocation in Vietnam. BLOOMBERG
Mint
14 hours ago
- Business
- Mint
Vietnam Stocks Near Record on Reform Hopes, Trade Deal Optimism
(Bloomberg) -- Vietnam's stock benchmark is closing in on a record high, fueled by optimism over sweeping political reforms and clarity on a trade deal with the US. The government is undertaking its biggest administrative overhaul in decades to shrink bureaucracy as Prime Minister Pham Minh Chinh pushes for more than 8% economic growth this year. A trade deal that cut US tariffs on the nation's goods to 20% from 46% in April also clears an overhang for the market. The moves have driven a 19% rally in the Vietnam Ho Chi Minh Stock Index this year, putting the market well ahead of its Southeast Asian peers. More gains could follow if Vietnam secures an upgrade to emerging-market status by FTSE Russell. 'Never before have we seen such strong reforms in Vietnam,' said Tyler Manh Dung Nguyen, chief market strategist at Ho Chi Minh City Securities Corp. 'I would allocate more in Vietnam right at the beginning of these changes.' The government is cutting red tape and unnecessary costs to redirect funds to development projects, part of its aim to achieve high-income status by 2045. Its pro-growth policies are luring investors back to the country, reversing sentiment after global funds withdrew a net $3.18 billion from local stocks last year. Foreign investors bought $411 million of Vietnamese shares on a net basis in July, the second month of inflows this year, while selling their holdings in Malaysia, Indonesia and the Philippines. Conglomerate Vingroup JSC, lender Vietnam Joint Stock Commercial Bank for Industry and Trade and Hoa Phat Group JSC are among the biggest gainers on the index this year as investors bet on major beneficiaries of the country's strong growth. The economy expanded 7.52% in the six months through June, according to Vietnam's statistics office, supported by a surge in manufacturing as foreign buyers raced to avoid higher tariffs on sales to the US. 'We became more positive since May as valuations started to look compelling given the forecast earnings growth of about 15% and price-earnings multiples of 10 times in 2026,' said Christopher Leow, chief executive officer at Principal Asset Management in Singapore. Investors are expecting a FTSE reclassification of Vietnam's market to take place as soon as September, which the index compiler projects may draw up to $6 billion in capital inflows. That would give another boost to the benchmark, which is less than 2% away from its all-time high in January 2022. To be clear, Vietnam's growth outlook remains clouded by a potential slowdown in global growth in the second half of the year. Uncertainty over a 40% US tariff on goods deemed to be transshipped through the Southeast Asian nation also weighs on local businesses. Still, the bullish case for Vietnam is hard to ignore. 'What makes Vietnam stand out globally is that it's almost inconceivable it won't become a much bigger economy' and returns on invested capital are much higher than in many other countries, said Johannes Loefstrand, portfolio manager at T. Rowe Price who manages a frontier markets fund with its largest allocation in Vietnam. More stories like this are available on
Business Upturn
5 days ago
- Business
- Business Upturn
21Shares Files for 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF
NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) — 21Shares US LLC today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for two Funds, the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF. The exchange-traded funds are the first crypto basket ETFs to be registered under the Investment Company Act of 1940. Each Fund is designed to offer diversified exposure to the crypto market through dedicated indexes, constructed by 21Shares and maintained by FTSE Russell. The 21Shares FTSE Crypto 10 Index ETF tracks a market cap-weighted index of the top ten largest crypto assets globally. This index dynamically adjusts to reflect the size and success of each asset, allowing the market itself to determine the leaders. Larger, more relevant cryptocurrencies naturally hold greater weights, capturing the evolving landscape of the crypto space. tracks a market cap-weighted index of the top ten largest crypto assets globally. This index dynamically adjusts to reflect the size and success of each asset, allowing the market itself to determine the leaders. Larger, more relevant cryptocurrencies naturally hold greater weights, capturing the evolving landscape of the crypto space. The 21Shares FTSE Crypto 10 ex-BTC Index ETF tracks a separate FTSE Russell index that excludes Bitcoin, investing exclusively in cryptocurrencies and blockchain networks that focus on real-world applications beyond Bitcoin's macro hedge proposition. Asset inclusion in the index is subject to a dual-layer research review by both FTSE Russell and 21Shares. Structured as 1940 Act funds, the ETFs also offer investors a familiar and more tax-efficient vehicle, qualifying for Form 1099 tax reporting instead of the more complex K-1 forms often associated with other structures. 'These filings represent a step in 21Shares' regulatory engagement in the U.S.,' said Federico Brokate, Head of U.S. Business at 21Shares. 'Investors are increasingly looking for diversified and easy-to-access ways to participate in the long-term growth of digital assets, and 21Shares aims to provide ETF structures to satisfy this demand, subject to regulatory approval.' 'The methodology and structure behind our digital asset pricing and indices were developed to give investors strategic allocation tools', said Kristen Mierzwa, Head of Digital Assets at FTSE Russell. 'Collaborating with 21Shares on a market exposure pair – with and without Bitcoin – underscores our commitment to innovation in digital asset investing.' 21Shares is launching the two Funds in partnership with ETF Solutions by Teucrium, who serves as the adviser and white-label platform supporting the development and efficient market entry of these products. A registration statement relating to the Funds has been filed with the SEC but has not yet become effective. About 21Shares 21Shares AG, an affiliate of 21Shares US LLC, the sponsor to the 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF, is one of the world's leading cryptocurrency exchange traded product providers, and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world's first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialised research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions. 21Shares is a member of a global leader in decentralized finance. For more information, please visit . Media Contact Matteo Valli: [email protected] Alethea Jadick: [email protected] Important Information The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities or financial instruments in any jurisdiction, including the United States. Some of the information published herein may contain forward-looking statements and readers are cautioned that any such forward-looking statements are not guarantees of future performance, involve risks and uncertainties, and actual results may differ. Additionally, there is no guarantee as to the accuracy, completeness, timeliness, or availability of the information provided and and its affiliated entities are not responsible for any errors or omissions. The information contained herein may not be considered as economic, legal, tax, or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof. Investments in crypto-related securities involve significant risk, including volatility and regulatory uncertainty. There is no guarantee that the Funds will be approved by the SEC or made available to investors. A registration statement relating to the securities of the Index ETFs has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
The Star
5 days ago
- Business
- The Star
Vietnam outlines new financial reforms in bid for emerging market status
HANOI: Vietnam is set to officially launch a central counterparty mechanism in early 2027 as part of its push to be reclassified as an emerging market as early as this year and attract more foreign investors, the State Securities Commission said. Vietnam has been on global index provider FTSE Russell's watchlist for an upgrade since 2018. It is currently classed as a frontier market, limiting the investment it can attract from funds, investors, and family offices in the nation's listed companies. An upgrade to emerging market status could rapidly channel US$5 billion into Vietnam's financial markets, according to World Bank estimates. The government released a four-phase plan running through 2027 to secure the upgrade during a visit to Hanoi by FTSE Russell's global head of equity and multi-asset, Gerald Toledano. The roadmap includes finalising the legal framework and establishing a Central Counterparty-operating subsidiary under the Vietnam Securities Depository and Clearing Corporation. In a meeting with Toledano late on Thursday, Prime Minister Pham Minh Chinh (pic) expressed his hope FTSE would support a classification upgrade for Vietnam, state-broadcaster Voice of Vietnam reported. Toledano highlighted Vietnam's strong liquidity, which he said surpassed regional peers Thailand and Singapore, VOV added. Vietnam's financial markets are small in comparison with regional peers. As of Thursday's close, the main benchmark stock index had a market valuation of around $245 billion, compared to around $455 billion for the main Thai index and around $490 billion for Singapore's STI Index, LSEG data showed. The CCP will act as an intermediary between buyers and sellers in the equity market, ensuring trades are honoured even if one party defaults. The country has already introduced other measures, such as a new transaction settlement system and the removal of a requirement for overseas investors to fully pre-fund equity trades, to address obstacles to its potential reclassification. Foreign investors have increased purchases of Vietnamese stocks following the announcement of a trade agreement between the United States and Vietnam. The benchmark VN-Index has risen 7.22% so far this month. FTSE Russell is set to release a review in September. If Vietnam secures the upgrade to secondary emerging market status, the reclassification process could take six to 12 months, consistent with the agency's procedural guidelines. Vietnam had previously targeted 2025 for achieving the upgrade. - Reuters
Bangkok Post
6 days ago
- Business
- Bangkok Post
Vietnam outlines new financial reforms in bid for emerging market status
HANOI - Vietnam is set to officially launch a central counterparty mechanism in early 2027 as part of its push to be reclassified as an emerging market as early as this year and attract more foreign investors, the State Securities Commission said. Vietnam has been on global index provider FTSE Russell's watchlist for an upgrade since 2018. It is currently classed as a frontier market, limiting the investment it can attract from funds, investors, and family offices in the nation's listed companies. An upgrade to emerging market status could rapidly channel $5 billion into Vietnam's financial markets, according to World Bank estimates. The government released a four-phase plan running through 2027 to secure the upgrade during a visit to Hanoi by FTSE Russell's global head of equity and multi-asset, Gerald Toledano. The roadmap includes finalising the legal framework and establishing a Central Counterparty-operating subsidiary under the Vietnam Securities Depository and Clearing Corporation. In a meeting with Toledano late on Thursday, Prime Minister Pham Minh Chinh expressed his hope FTSE would support a classification upgrade for Vietnam, state-broadcaster Voice of Vietnam reported. Toledano highlighted Vietnam's strong liquidity, which he said surpassed regional peers Thailand and Singapore, VOV added. Vietnam's financial markets are small in comparison with regional peers. As of Thursday's close, the main benchmark stock index had a market valuation of around $245 billion, compared to around $455 billion for the main Thai index and around $490 billion for Singapore's STI Index, LSEG data showed. The CCP will act as an intermediary between buyers and sellers in the equity market, ensuring trades are honoured even if one party defaults. The country has already introduced other measures, such as a new transaction settlement system and the removal of a requirement for overseas investors to fully pre-fund equity trades, to address obstacles to its potential reclassification. Foreign investors have increased purchases of Vietnamese stocks following the announcement of a trade agreement between the United States and Vietnam. The benchmark VN-Index has risen 7.22% so far this month. FTSE Russell is set to release a review in September. If Vietnam secures the upgrade to secondary emerging market status, the reclassification process could take six to 12 months, consistent with the agency's procedural guidelines. Vietnam had previously targeted 2025 for achieving the upgrade.
