The Ho Chi Minh Stock Exchange (HOSE) recently announced the market share of brokerage transaction value in the third quarter of 2022. And there are big changes among the top 10.

VPS Securities continues to rank top of the brokerage market share, witnessing a sharp gain from 17.1% in the second quarter of 2022 to 18.71% in the third quarter.

SSI Securities Corporation is lagging behind as its market share keeps falling from 10.02% to 9.60%. However, the securities firm said that it has recently found solutions to retain its market share.

According to SSI, amid the volatile market, the company continues to prioritise risk management for margin lending activities, striving to accompany customers in tough times. As of the end of September, SSI's outstanding loans reached nearly 15.4 trillion VND (644.2 million USD).

It also promotes investment consulting programmes to improve efficiency and risk management for investors.

In the first nine months of the year, the number of new accounts opened at SSI went up 34% year-on-year, but the market share declined significantly.

Most of the remaining securities companies posted sharp drops in market share in the last quarter. VNDirect Securities Corporation’s market share plunged from 7.96% in the second quarter to 7.72% in the third quarter.

Ho Chi Minh Securities Corporation (HSC) dropped from fourth to fifth position, corresponding to a slide from 6.06% to 5.58% in market share. Techcom Securities (TCBS)’s market share decreased from 5.37% to 5.23%.

Mirae Asset Securities Vietnam (MAS) has made considerable efforts to rank fourth with its trading market share increasing from 5.10% to 5.85%.

Securities companies in Vietnam have grown dramatically in the past three years thanks to the strong participation of retail investors. The long-term prospects of the securities services industry in Vietnam remain very positive due to economic growth, a low investor participation rate in the total population, and the size of the capital market, which is expected to develop further.

However, according to FiinRatings, currently the average daily liquidity on the domestic stock market is only about 60% of the average in 2021. This will affect the income growth rate of stockbrokers and the credit risk of margin loan portfolios. As a result, it will have a bigger impact on securities companies, which provide margin loans, focusing on small or speculative stocks.

More firms to join HoSE

In the last days of September, HoSE continuously announced it have received the listing documents of another five companies, increasing the number of enterprises waiting for the approval date to be listed on HoSE to 14 units.

Of which, Lap Phuong Thanh Trading and Production (LPT), Pacific Petroleum Transportation (PVP) and Hoa Tho Textile & Garment (HTG) are transferring shares from UPCoM to HoSE, while Nova Consumer and Bao Chau Pharmaceutical Group are new entrants on the stock market.

In the third quarter, the country's stock market tracked the global markets’ slugging trend, with the benchmark VN-Index hitting the lowest since February 2021. The downtrend occurred despite the bright prospect of the country’s economy. After a long streak of recovery in July and August, the index fell again at the beginning of September.

It closed the last trading day of September at 1,132 points, down 11.6% month-on-month and 24.4% over last year./.