1. H. SWINT FRIDAY, Ph.D. TEXAS A&M UNIVERSITY-CORPUS CHRISTI, USA NHUNG T. HOANG TEXAS A&M UNIVERSITY-CORPUS CHRISTI, USA THE DAY-OF-THE-WEEK EFFECT IN THE VIETNAM STOCK MARKET

2. EMERGING MARKET SHARE

3. VIETNAM INSIGHT ONE OF THE FASTEST-GROWING ECONOMIES IN ASIA GDP (1990 – 2010) (Source: Vietnam Bureau of General Statistics)

4. VIETNAM STOCK MARKET 1994 FRANKLIN TEMPLETON INVESTMENTS 1994 DRAGON CAPITAL 2008 JOINT VENTURE BETWEEN TEMPLETON VIETNAM OPPORTUNITY FUND AND VIETCOMBANK (THE BIG FOUR STATE-OWNED COMMERCIAL BANK IN VIETNAM)

5. VIETNAM MARKET PERFORMANCE (Source: VNDirect)

6. ASIAN MARKET P/E’s (Source: Bloomberg, Data as of Mar 12, 2011)

7. PURPOSE OF RESEARCH WE EXAMINE THE DAY-OF-THE-WEEK EFFECT OF MORE THAN 550 STOCKS LISTED ON THE VIETNAM STOCK EXCHANGE OVER A 10 YEAR PERIOD FROM THE ESTABLISHMENT OF THE MARKET ON JULY 28, 2000 UNTIL JULY 13, 2010

8. DAY-OF-THE-WEEK EFFECT US STOCK MARKET 1980 THREE-TIMES-HIGHER-EXPECTED-RETURN ON MONDAY THAN OTHER DAYS OF THE WEEK 2003 S&P: REVERSAL OF MONDAY EFFECT NASDAQ: DISAPPERANCE OF A SIGNIFICANT MONDAY EFFECT 2006 SIGNIFICANT NEGATIVE MONDAY WITH THE HIGHEST VOLATILITY DJIA (JUL. 2, 1962 – DEC. 31, 2003) S&P 500 (JUL. 2, 1962 –DEC. 31,2003) S&P Mid Cap400 (JUN. 12, 1991 - DEC. 31,2003) S&P SmallCap 600 (JAN. 3, 1989 –DEC. 31, 2003)

9. DAY-OF-THE-WEEK EFFECT THAILAND, INDONESIA MONDAY EFFECT & FRIDAY EFFECT NETHERLANDS MONDAY EFFECT CANADA, HONG KONG, MALAYSIA, TAIWAN FRIDAY EFFECT, NO “BLACK MONDAY” TURKEY FRIDAY EFFECT ( JAN. 2003 – DEC. 2007) CHINA TUESDAY EFFECT & THURSDAY EFFECT INDIA TUESDAY EFFECT

10. VIETNAM STOCK MARKET CAPITALIZATION-WEIGHTED INDEX OF ALL COMPANIES LISTED ON THE HO CHI MINH EXCHANGE CREATE WITH A BASE INDEX VALUE OF 100 AS OF JULY 28, 2000 PRIOR MARCH 1, 2002 TRADE ONLY THREE DAYS PER WEEK, ON MONDAY, WEDNESDAY, AND FRIDAY MORE THAN 550 COMPANIES WITH AN AVERAGE MARKET CAPITALIZATION OF $85 MILLION.

11. DATA &METHODOLOGY  10 DECILES  550 STOCKS DIVIDED INTO 10 DECILES ACCORDING TO THEIR MARKET CAPITALIZATION  2 SUB-PERIODS  1 st SUB-PERIOD (JUL. 28, 2000 – MAR. 1, 2002) MONDAY, WEDNESDAY, FRIDAY TRADING WEEK  2 nd SUB-PERIOD (MAR. 1, 2002 – JUL. 13, 2010) MONDAY THROUGH FRIDAY TRADING WEEK

12. DATA &METHODOLOGY  THREE TIME-PERIOD DAILY RETURNS

13. RESULTS

14.  MONDAY EFFECT WORST OPEN-TO-CLOSE /INTRADAY RETURN WORST VOLUME  WEDNESDAY EFFECT BEST OPEN-TO-CLOSE RETURN RELATIVELY HIGHEST VOLUME THE WEDNESDAY EFFECT: HONG KONG & THAILAND