Specifically, the list of ineligible margin trading or margin lending cutoffs in the fourth quarter of 2024 on HOSE includes 85 fund certificates and stocks, an increase of 6 stocks compared to the list announced in the first quarter of 2024. Most of them are stocks that are under warning, control or suspended from trading.
Among them, there are stocks that were once quite "hot" such as GMC - Garmex Saigon Joint Stock Company due to being under control; ITA shares - Tan Tao Investment and Industry Joint Stock Company due to being suspended from trading; LDG - LDG Investment Joint Stock Company due to negative profit in the first half of 2024; NVL - No Va Real Estate Investment Group Joint Stock Company (Novaland) due to being under warning; QCG - Quoc Cuong Gia Lai Joint Stock Company due to losses in the first 6 months of 2024; VPH - Van Phat Hung Joint Stock Company due to losses in the first 6 months of 2024; DQC - Dien Quang Group Joint Stock Company due to losses in the first 6 months of 2024; RAL - Rang Dong Light Bulb and Vacuum Flask Joint Stock Company due to violations of tax laws...
Many once "hot" stocks have had their margin lending cut off
PHOTO: DAO NGOC THACH
Stock mortgage lending or margin lending is taking place actively in the market. This helps investors increase the use of leverage to seek profits when trading. This is also a major source of revenue for securities companies. According to estimates, the outstanding margin lending balance by the end of the second quarter of 2024 at securities companies reached more than 215,000 billion VND, marking a record level of margin lending in the Vietnamese stock market.
In the race to attract customers and increase market share, margin lending interest rates at some securities companies have dropped to only about 8 - 8.5%/year while the normal interest rate ranges from 9 - 13% depending on the customer group. There are even many short-term loan packages within 3 - 5 days with interest rates of 0%. Promoting margin lending to increase revenue and meet customer needs is also the reason for a series of securities companies to race to increase capital...
Source: https://thanhnien.vn/hose-neu-ten-hang-loat-co-phieu-khong-duoc-phep-cam-co-ky-quy-185241003105321225.htm
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