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Posts Tagged ‘markets’

Bank stocks help rally markets

In Uncategorized on December 16, 2010 at 9:26 pm




Bank stocks help rally markets


QĐND – Thursday, December 16, 2010, 21:2 (GMT+7)

Stock indices rose steadily on Dec. 15 after the previous trading session’s modest retreat with bank shares again performing strongly.


On the HCM Stock Exchange, three out of four banking stocks to post gains hit their ceiling prices, as did four out of five on the Hanoi exchange. Hanoi Housing Bank (HBB), with 12.6 million shares changing hands, was again the most heavily-traded share nationwide.


The Government decision to extend the deadline for credit institutions to comply with higher charter capital requirements seems to have further lifted investor expectations of a long-term market rise, especially among banking shares.


Le Dat Chi, head of HCM City Economics University ‘s corporate finance faculty, said that when small banks were not under pressure to raise capital, interest rates could stabilise, a good sign for the stock market.


“The extension decision relieved investor psychology which has long been repressed by fear that capital flows were being diverted to banks under pressure to increase capital and adding to the pressure of increasing share supplies,” Chi said.


A large amount of money that had been prepared for this capital increase could also end up being temporarily invested in the stock market, he added.


Bao Viet Securities Co analyst Nguyen Duc Thi agreed that the extension would reduce difficulties for banks which may have had to borrow at any cost to meet the charter capital requirements – but he was also relatively surprised that the term had been extended up to one year instead of six months, as had been requested by the State Bank of Vietnam.


On the HCM Stock Exchange on Dec. 15, the VN-Index closed up 0.78 percent to 493.47 points. The value of trades decreased 33 percent from the previous day’s session, however, to 2.2 trillion VND (109.4 million USD), on a volume of 95.6 million shares.


Decliners continued to outnumber advancers by 146-77, but gains in a number of leading shares helped offset losses, including insurer Bao Viet Holdings (BVH), Phu My Fertilisers (DPM), Masan Group (MSN) and real estate developer Vincom (VIC).


On the Hanoi Stock Exchange, the HNX-Index closed at 120.60 points, a gain of 0.83 percent. The value of trades reached 1.55 trillion VND (77.8 million USD), with nearly 79 million shares changing hands.


Foreign investors remained net buyers on the HCM City market on Dec. 15 by a net of almost 48 billion VND (2.4 million USD) but were net sellers in Hanoi market of 3.4 billion VND (170,000 USD) worth of shares.


Source: VNA


Source: QDND

Vietnam’s tourism promoted in foreign markets

In Uncategorized on December 16, 2010 at 2:29 pm




Vietnam’s tourism promoted in foreign markets


QĐND – Thursday, December 16, 2010, 21:5 (GMT+7)

The Vietnam Administration of Tourism has been organising road-show programs in Singapore and Malaysia to promote Vietnam’s tourism abroad.


Recently, the Vietnam Administration of Tourism has worked out programs to promote Vietnam tourism in two countries, considering them key tourism markets of Vietnam.


The ongoing road show program from December 15th to 21st, has introduced famous tourist sites, new tourist products, cultural identities, plans to further develop Vietnam’s tourism to foreigners. The road-show also creates opportunities for domestic and foreign travel businesses to boost cooperation.


Source: HNM


Translated by Duy Minh


Source: QDND

Bull returns to Vietnam’s stock markets

In Uncategorized on December 16, 2010 at 10:07 am

Vietnam’s benchmark VN-Index jumped to 18-week high on December 13 as invetors rushed to buy on speculation that the rising trend would prolong.

The shares of 271 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange shot up 3.63 percent, or 17.16 points, to close at 490.22 points.


On the benchmark, 234 stocks leaped forward, 16 dropped, while 26 treaded water.


Trading volume slightly fell over the previous trading session. Around 81.97 million shares changed hands at a value of VND1.9 trillion.


Petrovietnam – Idico Long Son Industrial Park Investment Joint Stock Company (PXL) topped the list of most active shares in volume with 4.46 million shares changing hands.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) chased after with 4.06 million shares, followed by Tan Tao Investment Industry Corporation (ITA).


Winners on the city bourse included Mien Trung Petroleum Construction Joint Stock Company (PXM), Construction Joint Stock Copany No 5 (SC5), and Tai Nguyen Corporation (TNT).


Food and cosmetics producer S.P.M Corporation (SPM) slashed 4.69 percent to VND61,000.


Viet Thang Aquafeed Joint Stock Company (VTF) declined for four consecutive days, erasing 4.67 percent to VND14,300.


Ca Mau Frozen Seafood Processing Import Export Corporation (CMX) adjusted 4.52 percent to VND14,800.


Meanwhile, the Hanoi’s HNX-Index rallied 4.61 percent, or 5.37 points, to close at 121.76 points. Around 53.15 million shares changed hands at VND1.07 trillion.


The UPCom-Index also added up by 0.32 points to 41.75 points this morning. A total of 577,200 shares changed hands at a value of VND5.8 billion.

Source: SGGP

Vietnam’s stock markets drop most since August after Moody’s lowers rating

In Uncategorized on December 16, 2010 at 10:06 am

Vietnam’s benchmark VN-Index, which tracks 271 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, slumped on December 16 due to bad news on financial markets.

Moody’s Investors Service downgraded Vietnam government’s bond rating to B1 from Ba3, citing the risk of a balance of payments crisis and a drop in foreign reserves as inflation accelerates and the nation’s currency weakens. Along with this decision, the credit rating agency also cut long-term foreign-currency rating of six Vietnamese banks to B2 from B1.


The gauge tumbled the most since August, slashing 2.69 percent, or 13.26 points, to close at 480.21 points.


Among the index members, 28 advanced, 208 retreated, while 40 remained unchanged.


Trading volume stayed on high level as around 80.79 million shares worth VND1.9 trillion changed hands.


Tan Tao Investment Industry Corporation (ITA) led the list of most active shares by volume with 5.54 million shares changing hands.


It was followed by Saigon Securities Inc. (SSI), the country’s largest brokerage, with 5.29 million shares traded.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) ranked third with 3.24 million shares.


Tan Binh Import – Export Joint Stock Company (TIX) nosedived for five straight days, giving up 5.05 percent to VND39,500. The company will pay dividends for the second term of this year in cash at a ratio of 20 percent to its current shareholders on December 30.


Other losers on the city bourse included Binh Dinh Minerals Company (BMC), Southern Rubber Industry Joint Stock Company (CSM), and Dien Quang Joint Stock Company (DQC).


Among a few gainers, seafood producer Vinh Hoan Corporation (VHC) accelerated 4.83 percent to VND30,400.


Mirae Joint Stock Company (KMR) rebounded 4.76 percent to VND8,800.


Viet Nam Joint Stock Commercial Bank for Industry and Trade or Vietinbank (CTG) advanced the fifth day, enhancing 4.72 percent to VND22,200.


The Hanoi’s HNX-Index plummeted 4.29 percent, or 5.17 points, to close at 115.43 points. Trading volume dropped to 57.7 million shares worth VND1.1 trillion.


Meanwhile, the UPCom-Index tripped by 1.02 points to 41.14 points this morning. A total of 123,200 shares changed hands at a value of VND1.31 billion.

Source: SGGP

Vietnam Airlines surveys foreign markets

In Uncategorized on November 27, 2010 at 2:51 pm

 

Vietnam Airlines surveys foreign markets
QĐND – Saturday, November 27, 2010, 21:42 (GMT+7)

 

 

The national flag-carrier, Vietnam Airlines, has launched a field-trip to dynamic foreign markets, including South Korea, France, Switzerland, and Germany, in order to promote exchanges and study their experiences.

During the field-trip, from November 11th to 19th, leaders of Vietnam Airlines’ member businesses had worked with representatives from major airlines, businesses and organisations in the aviation industry.

According to members of the delegation, the field-trip and working-visits in the developed countries have helped the domestic aviation businesses improve their knowledge and experiences.

Over the past years, Vietnam Airlines’ members have made many strategic achievements and advancements.

Mr. Bui Doan Ne, Vice-Chairman of the Vietnam Aviation Business Association (VABA), a member of the delegation, said that apart from being equipped with modern technology, many officials, officers and employees of the delegation had opportunities to improve their knowledge through training programs which are launched regularly by major aviation organisations.

Vietnam Airlines has become a competitive trademark in the international market of aviation transportation, but services of the carrier need to improve in terms of service capacity and technology, and the field-trip has contributed to further development of the industry as well as the airline.

Reported by Phan Binh

Translated by Duy Minh


Source: QDND

Flight to Ha Noi from

 

Asian stock markets lower amid Korean hostilities

In Uncategorized on November 24, 2010 at 6:50 am

 Asian stock markets mostly fell Wednesday as investors exited riskier assets amid a tense military standoff between North and South Korea and grew more worried there may be no immediate end in sight to Europe’s debt crisis.


Oil prices rose slightly to near $82 a barrel in Asia as a report showing an unexpected jump in crude inventories provided mixed signals on demand. In currencies, the dollar rose against the yen but was lower against the euro.


South Korea’s financial markets opened sharply lower Wednesday the day after an artillery clash between North and South Korea sent tensions on their divided peninsula soaring. The Kospi index fell 3.3 percent in the opening minutes, though quickly pared losses and was 0.4 percent lower in early afternoon trading at 1,921.29.

A man walks in front of the electronic stock board of a securities firm in Tokyo, Wednesday, Nov. 24, 2010.

Japan’s Nikkei 225 stock average fell 0.7 percent to 10,044.52, after briefly falling below the 10,000 mark earlier in the session.


The South Korean won, meanwhile, dropped 2.6 percent against the dollar in early trading, but also recovered to trade 1 percent lower.


Rommel Lee, an analyst at Shinhan Investment Corp. in Seoul, said that China’s call for a peaceful solution to the tension on the Korean peninsula helped calm nerves among investors Wednesday.


Chinese Foreign Ministry spokesman Hong Lei on Tuesday called on both sides, without naming them, “to do more to contribute to peace and stability on the peninsula.”


“China saying to North Korea, ‘find a peaceful solution to this incident’ caused a positive reaction in the market, and overall it limited the negative effect,” said Lee.


As market jitters over the Korean peninsula eased, investors began to worry anew that the much ballyhooed bailout of Ireland’s banking sector may not be enough to contain Europe’s debt crisis. Stock traders panicked and dumped European shares Tuesday, sending Portugal’s benchmark stock index down 2.2 percent by the close. The euro slid below $1.34 for the first time in two months as investors sought the relatively safety of the dollar.


Spooked by the scale of Greece’s bailout requirements in May and Ireland’s banking failures, international investors are looking much closer at the public finances of eurozone countries and they don’t like what they’re seeing, particularly in Portugal.


“For a while now, investors were pretty complacent over the European credit woes. So I think investors have underestimated how long the Irish problem may drag out,” said Sean Darby, chief Asia Strategist at Nomura Global Equity Research in Hong Kong.


Shares in Australia, Taiwan, and New Zealand were lower, while Hong Kong’s Hang Seng index rose 0.7 percent to 23,054.61. Benchmarks in Singapore and Shanghai also rose.


The Korean incident had less of an effect on U.S. markets, but investors there still dumped shares heading into the Thanksgiving holiday. Sentiment was also hurt as the Federal Reserve lowered its growth forecast for next year.


In a report releasing minutes from its last meeting Nov. 3, the Fed predicted that the economy will grow only 2.4 percent to 2.5 percent this year. That’s down sharply from a previous projection of 3 percent to 3.5 percent. Next year, the economy will expand by 3 percent to 3.6 percent, the Fed said, also much lower than its June forecast.


Wednesday will bring an unusually large amount of economic data since several reports that normally come out Thursday are being moved up because of the holiday. Reports are due out on weekly claims for unemployment benefits, durable goods and personal income.


Overnight on Wall Street, the Dow Jones industrial average fell 1.3 percent to 11,036.37, while the broader Standard & Poor’s 500 lost 1.4 percent to 1,180.73.


Benchmark oil for January delivery was up 37 cents to $81.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 49 cents to settle at $81.25 on Tuesday.


In currencies, the dollar rose slightly to 83.24 yen from 83.16 late Tuesday in New York. The euro rose to $1.3397 from $1.3363.

Source: SGGP

Markets wrap week in bullish sentiment

In Uncategorized on November 6, 2010 at 7:22 am

Bearish sentiment sends markets down

In Uncategorized on October 18, 2010 at 10:26 am

Movements of VN-Index on October 18. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index sank the second day on October 18 as the market lacked of strong-enough supportive information.

The index of 262 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange slipped 0.17 percent, or 0.8 points, to finish at 457.59 points.


Trading volume on the city bourse faintly fell over the previous trading session as around 26.64 million shares changed hands at a value of VND689 billion.


On the index, 63 stocks advanced, 132 declined, while 72 stalled.


Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) continued to win the position of most active share in volume for the third day with 1.57 million shares changing hands.


It was chased after by PetroVietnam Fertilizer and Chemicals Corporation (DPM) with 1.25 million shares.


Long An Food Processing Export Joint Stock Company (LAF) came next with 613,360 shares traded.


Hanoi-based construction company, Tai Nguyen Corporation (TNT), contracted the daily maximum allowed limit of 5 percent to VND24,700.


Da Nang Construction Building Materials and Cement Joint Stock Company (DXV) shrank 4.98 percent to VND19,100.


Ha Tien Transport Joint Stock Company (HTV) dropped 4.9 percent to VND23,300.


From October 21 to December 21, Vietnam Cement Industry Corporation, inside shareholder of Ha Tien Transport Joint Stock Company (HTV), registered to sell 1,008,000 shares, reducing its holdings to 4,039,970 shares, to restructure its investment category.


OPC Pharmaceutical Joint Stock Company (OPC) restored 4.86 percent to trade at VND38,800.


Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) leaped forward for four straight trading sessions, adding up 4.81 percent to VND19,600.


Information and Networking Technology Joint Stock Company (CMT) edged up 4.8 percent to VND28,400.


The smaller bourse in the north also opened week in low note as the Hanoi’s HNX-Index slid 0.8 points, or 0.67 percent, to 118.89 points. Trading volume slightly improved over the previous trading session to around 17.3 million shares, worth VND371.24 billion.


The UPCoM-Index dropped 0.2 points to 43.27 points. A total of 97,000 shares were traded at VND1.25 billion this morning.

Source: SGGP

Concern over inflation drives markets down

In Uncategorized on October 14, 2010 at 6:33 pm

Vietnam’s benchmark VN-Index, a gauge of 255 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, made correction on September 21 as an increase of 1 percent in the customer price index in September affected investors’ psychology.

Movements of VN-Index on September 21. (Photo: vietstock.vn)

The index finished at 453.32 points, shrinking 4.55 points, or 0.99 percent.


However, liquidity on the city bourse maintained at high level as around 57.41 million shares traded at VND1.7 trillion.


On the benchmark, 56 stocks gained, 142 dropped, while 62 treaded water.


Ocean Group Joint Stock Company (OGC) and Quoc Cuong Gia Lai Joint Stock Company (QCG) were the two most remarkable stocks on the southern market today.


Trading volume of Ocean Group Joint Stock Company (OGC) spiked to a record of 14.3 million shares, accounting for 25 percent of total trading volume on the floor.


It was followed by Vietnam Export Import Commercial Joint Stock Bank (EIB), which saw 1.62 million shares being traded.


Meanwhile, furniture producer Quoc Cuong Gia Lai Joint Stock Company (QCG) advanced for the sixth day, surging 4.91 percent to VND29,900, with 1.33 million shares changing hands today.


MTGas Joint Stock Company (MTG) tumbled 30.1 percent to VND13,700. The company will issue 4 million bonus shares to its current shareholders with a ratio of 2:1. This is a part of the plan to issue 8 million shares to increase its capital to VND160 billion.


Godaco Seafood Joint Stock Company (AGD) slumped 4.85 percent to trade at VND31,400.


Ha Tien Transport Joint Stock Company (HTV) declined 4.84 percent to VND41,300.


Construction company Lilama 10 Joint Stock Company (L10) rebounded 4.84 percent VND39,000.


Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) climbed for three consecutive days, closing up 4.76 percent to VND24,200.


The Hanoi’s HNX-Index slipped 1.74 points, or 1.31 percent, to 131.57 points. Trading volume slightly fell over the previous day as nearly 40.4 million shares changed hands at VND1.01 trillion.


The UPCoM-Index clipped 0.59 points to 47.75 points. A total of 237,700 shares were traded at a value of VND4.77 billion as of lunchtime.

Source: SGGP

Unsafe toys rampant in markets

In Uncategorized on October 13, 2010 at 7:50 am

Although Ho Chi Minh City Market Management Board September 15 started to inspect toy businesses, rampant objects for children’s fun without CR (Conformity of Regulation) safety stamps are sold in streets or markets,

Market inspectors are checking toys

Under the new technical regulation of the Ministry of Science and Technology taking effect on September 15, toys must be labeled with CR stamps to help minimize health and safety risks among kids during play.


The regulation includes methods for testing materials and other substances contained in toys as well as the management of import and production activities for toys.


In sidewalks, display of varieties of toys in streets such as Nguyen Van Cu- An Duong Vuong, Luong Nhu Hoc, Nguyen Trai, Hong Bang in district 5 and Nguyen Tri Phuong in district 10 has attracted kids. Vendors all said they didn’t care about the regulation because they can immediately hide toys when police arrive.


Legal toy shops, supermarkets, book stores and old-age markets like Kim Bien and Binh Tay sell cars, dolls and plastic objects, smuggled mainly from China without safety certificates. A wholesaler in Binh Tay market, considered as biggest distributor of toys in the city, said it is hard to sell products with CR stamp because they are usually expensive than imported varieties  without being labeled; moreover, a few designs of legal toys have been produced.


In addition, many parents also prefer buying Chinese toys because they are cheaper and more modern, with more moveable parts compared to locally made products.


Retailers in the city said no importers or enterprises have withdraw  products without safety stamps. They therefore didn’t know what objects have been given accreditation. Furthermore, retailers complained that no relevant agencies have given them detailed instructions, they just heard the regulation through public media.


Inspectors discovered many products without safety stamps in supermarkets, toy shops, and book stores in the city on September 15 as well as fake stamps. Head of the department of city’s market management Dang Van Duc said inspectors would fine businesses, confiscate or destroy illegal products.

Source: SGGP

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