Top ten brokers maintain grip on market

Top-ten stock brokers in the country still maintain their strong grip with a combined share of over 50% on the market despite tough competition, but some of them changed positions in the list, the Hochiminh Stock Exchange reported. Of over 100 securities companies operating on the local market, the top ten ones saw their market share shrink little in the first quarter to 50.5% in terms of brokerage fees from the year-ago share of 51.26%. Securities companies in the list are all popular names compared to 2009. Thang Long Securities Co. ranks first with a market share of 9.37% compared to the year-ago proportion of 9.13%, while Saigon Securities Inc. (SSI) still keeps the second position with the market share of 8.47% compared to 8.26% in 2009. However, Hochiminh City Securities Co. (HSC) ousted Sacombank Securities Co. (SBS) to grasp the third position with a market share of 7.09% compared to only 5.63% in 2009, while SBS saw its share slide to 5.69% from the previous 7.77%. Vietcombank Securities Co. has been kicked out from the list and is replaced by VNDirect Securities Co. with a market share of 2.81%, taking the eighth position. The other names are unchanged, namely ACB Securities, FPT Securities, Bao Viet Securities, Kim Eng Securities, and Vietnam International Securities. In the first quarter this year, only six securities companies served as brokers of bond transactions. Habubank Securities Co. held the biggest market share of nearly 30% in this business sphere.