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Posts Tagged ‘lifts’

Upbeat investor sentiment lifts stock market up high

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

The stock market is roaring back on increasing confidence, helping many investors to achieve big profits.

Two investors caustiously watch share prices updated at a HCMC-based brokerage (Photo:Minh Tri)

VN-Index, the gauge of 271 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, regained more than 10 percent in the last one month, while the index of the Hanoi’s bourse rose 20 percent.

Brokers said the profit rate of the stock market’s investments was around 6-12 times higher than banks’ interest rate.

Nguyen Thanh Long, an investor favoring mineral shares, achieved a profit rate of 30 percent from investing in Nari Hamico Minerals Joint Stock Company (KSS) last month.

“I bought KSS at VND24,000 per share last month as I found it reasonable. Later I bought more as the share kept falling to around VND20,000, making an average price of VND21,000. I eventually took big profits when KSS rose to VND28,000 early this month,” Long recalled.

Tran Van Thanh, who has entered the market since it was set up, said he gained nearly VND30 million from investing in the air conditioner maker REE (REE).

“I bailed out of the market at the end of July and came back at the time when the VN-Index bounded back from 420-430. I just bought 10,000 REE shares at the price of VND14,000 at that time as I didn’t think the market would recover strongly,” Thanh said.

“I made around VND30 million from selling those shares, which jumped by 20 percent to VND17,000.”

The stock market will likely to remain on a rise until the end of the year, said Hoang Thach Lan, heads of the brokerage unit at the Ho Chi Minh City-based MHB Securities Co., the investment arm of Mekong Housing Bank.

“However, investors should be cautious. One of the biggest mistakes investors often make is to make out a certain reason that they believe it has boosted the market,” Lan said.

“For example, some individual investors told me that they would return to the stock market with long-term investments on an expectation that foreigners would pump money strongly into the market in early 2011.

“But there’s little likelihood that investors would pump as much money into the stock market as they did in the 2006-2007 period.”

Surging trading value
Statistics showed trading value on the Ho Chi Minh Stock Exchange increased sharply by VND17.5 trillion (US$875 million) in the last ten trading day.

According to the State Securities Commission, foreign investors pumped $920 million into Vietnam’s stock market in the first 11 months of the year.

The market’s sentiment was boosted by foreigners’ moves, said Nguyen Viet Hung, head of the analysis and investment unit of the brokerage SME.

“Many investors bailed out from the bearish market, which lasted from the middle of the second quarter to the third quarter this year. Therefore, I expect the current bullish run, which has just been started, will be extended further if those investors returned to the market,” Hung said

Source: SGGP

Order to sell dollars lifts shares

In Uncategorized on November 6, 2010 at 1:50 am

US lifts Gulf of Mexico deepwater drilling ban

In Uncategorized on October 13, 2010 at 8:10 am

The United States lifted a ban on deepwater drilling in the Gulf of Mexico imposed after the BP oil spill, but set operators tough new safety conditions, officials said.

“We have decided it is now appropriate to lift the suspension on deepwater drilling for those operators that are able to clear the higher bar that we have set” for safety, Interior Secretary Ken Salazar said.

President Barack Obama ordered a six-month freeze on deepwater offshore oil drilling in the Gulf of Mexico shortly after a blowout on the BP Deepwater Horizon undersea well that killed 11 rig workers and sparked the worst oil disaster in US history.

The moratorium was due to expire at the end of next month.

Oil rigs are seen in the Gulf of Mexico in August 2010.

The new rules, which were laid out by the Interior Department two weeks ago, toughen up companies’ obligations on drilling and workplace safety, well containment and spill response, said Salazar.

Key among the tough new rules is an obligation for the CEO of any company wishing to drill in deep water to “certify that the rig has complied with all new and existing rules,” he said.

Executives from the companies involved in the BP-leased well that blew out have blamed each other for the accident which happened some 50 miles (80 kilometers) off the coast of Louisiana.

But even if the moratorium was being lifted, deepwater drilling was not expected to resume soon, said Michael Bromwich, director of the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEM).

Oil and gas companies need time to implement the new rules and draw up applications for offshore leases “and it will obviously take us time to review those applications and do due diligence,” said Bromwich.

American Petroleum Institute president Jack Gerard welcomed the lifting of the drilling ban but worried that “a de facto moratorium could be created by delays in the processing and approval of permits, which will reduce production, government revenues and American jobs.”

Billy Nungesser, president of Plaquemines Parish in Louisiana, where residents were hard hit by the moratorium on drilling, was relieved that the ban had been lifted, but voiced concern that a slow-moving permitting process would end up smothering the local oil and gas industry.

We hope that the new regulations and new policies will make drilling safer for both the people working offshore and the environment in the future.

“At the same time, we hope the regulations will not delay the permitting process for deepwater or other drilling, which ends up smothering the industry,” Nungesser said.

Republican Congressman Darrell Issa also urged the government to “avoid a de facto moratorium-by-regulatory-delay … that would be just as damaging to the Gulf economy as a blanket moratorium.”

A study in July estimated that a six-month moratorium would cost more than 8,000 jobs in Florida, Alabama, Mississippi, Louisiana and Texas and wipe out nearly 2.1 billion dollars in economic activity in the Gulf states.

Louisiana Democratic Senator Mary Landrieu, who has called the moratorium a “reckless” move that endangered the environment and jobs, welcomed Tuesday’s announcement as “a step in the right direction.”

“But it must be accompanied by an action plan to get the entire industry in the Gulf of Mexico back to work,” including an acceleration of the permitting process, she added.

Environmental groups, meanwhile, said the ban had been lifted too soon.

“Scientists haven’t even assessed the full ecological impact of the BP disaster and yet the government is in a rush to allow oil companies to get back to drilling. It is irresponsible to say the least, reckless at worst,” said Greenpeace USA director Phil Radford.

Peter Lehner, executive director of the Natural Resources Defense Council, said the moratorium should have stayed in place.

“To ensure a disaster like this never happens again, we must know what caused it in the first place. We?re still waiting for that answer and until we get it, the moratorium should remain in place,” he said.

The Sierra Club said the moratorium had been only a temporary fix, and the real solution was to wean the United States off oil.

“The only way to make sure we don?t see another drilling disaster is to end our dependence on oil,” said Sierra Club president Michael Brune.

“The BP disaster was a wake up call, but our leaders keep hitting the snooze button,” he said.

Source: SGGP

Thailand lifts emergency rule in three provinces

In Uncategorized on July 20, 2010 at 11:25 am

BANGKOK, July 20, 2010 (AFP) – Thailand said Tuesday that it was lifting a state of emergency in three northern provinces but not in Bangkok, two months after the end of anti-government protests in the capital that turned deadly.

The emergency law, which bans public gatherings of more than five people and gives security forces the right to detain suspects for 30 days without charge, will remain in place in 16 other provinces.

Earlier this month Thailand extended the emergency powers across about one quarter of the country by three months, prompting concern among rights groups and key allies including the United States.

The cabinet decided Tuesday to revoke the state of emergency in Lampang, Roi Et and Sakon Nakhon provinces, in addition to five areas where the decree was recently lifted, said deputy government spokesman Supachai Jaismut.

“There are no political movements in those three provinces and local officials are confident that they can handle the situation,” he said.

In the 16 other provinces, security officials report continued political activities such as using community radio to incite unrest, as well as fears of sabotage and assassination attempts on important people, he added.

Two months of mass rallies by the Red Shirts, who were seeking immediate elections, sparked outbreaks of violence that left 90 people dead, mostly civilians, and nearly 1,900 injured, ending in a bloody army crackdown in May.

Critics say the government may be fanning the crisis as it clamps down and censors the protest movement — which broadly supports fugitive former premier Thaksin Shinawatra — rather than addressing its grievances.

A visiting senior US envoy last week called for the state of emergency to be lifted “as soon as possible”.

William Burns, the State Department’s number three, said that to retain these powers indefinitely was “not healthy for a democratic system”.

The authorities have used the powers to arrest hundreds of suspects — including most of the top leaders of the “Red Shirt” protest movement — and shut down anti-government TV channels, radio stations and websites.

New York-based group Human Rights Watch said earlier this month the government was “systematically using” the emergency decree to hold suspects without charge for up to 30 days in unofficial places of detention.

Many detainees have been held at military camps but their exact numbers and whereabouts are unknown to their families, it said.

According to Human Rights Watch, putting detainees in the hands of security personnel who often lack training and experience in civilian law enforcement increases the risk of serious abuses.

The government has rejected calls from the opposition for the decree to be lifted in Bangkok for a parliamentary by-election in the capital on July 25 in which a Red Shirt leader detained on terrorism charges is running.

A separate state of emergency has been in place since 2005 in three Muslim-majority southern provinces where a separatist insurgency has left more than 4,100 people dead in six years, with no end in sight to the violence.

Source: SGGP

Thailand lifts state of emergency decree

In Uncategorized on September 15, 2008 at 11:09 am

Bangkok (VNA) – The state of emergency decree imposed in the Thai capital of Bangkok was lifted on September 14, local media reported.

The announcement was made at a press conference by caretaker Prime Minister Somchai Wongsawat after his meeting with Army Commander-in-Chief Gen. Anupong Paochinda and national Police Chief Pol. Gen. Patcharawat Wongsuwan, the Thai news agency (TNA) said.

Gen. Anupong will head a security working committee to be formed to take responsibility for overseeing security in the country, especially Bangkok, while the police chief will monitor the general situation in the country, the caretaker PM added.

The state of emergency decree was imposed almost two weeks ago by former Prime Minister Samak Sundaravej following bloody clashes between pro- and anti-government protesters. –

Thiet lifts her way to fifth place

In Uncategorized on August 13, 2008 at 5:55 pm

Don’t mess with her: Weightlifter Nguyen Thi Thiet competes in the women’s 63kg final during the 2008 Beijing Olympic Games yesterday. She came fifth place overall. — AFP/VNA Photo

HA NOI — Nguyen Thi Thiet fulfilled her Olympic ambition in Beijing yesterday of lifting a total of 225kg – 20kg more than she lifted at her debut Olympics in Athens – to come fifth in the women’s 63kg category.

The Southeast Asian (SEA) Games champion finished one place higher than she did four years ago.

Thiet, who won a gold in the SEA Games in Thailand last December, successfully lifted 100kg in the snatch event after two attempts and 125kg in the clean and jerk on her second lift to finish 15kg behind gold medallist Pak Hyon Suk of North Korea.

Thiet attempted to raise her overall total by snatching 102kg but failed on the third attempt. In the clean and jerk, Thiet failed at 127kg.

Pak, 23, the world number three, succeeded in her third attempt to lift 135kg in the clean and jerk to overtake Irina Nekrassova of Kazakhstan, who finished second just one kilo behind.

Her total was also just 1kg off the Olympic record set in Sydney in 2000 by China’s Chen Xiaomin.

Lu Ying-Chi of Chinese Taipei won the bronze with a 231kg total.

Pak’s path to gold was helped by the absence of Chinese world champion Liu Haixia and the early elimination of Russian favourite Svetlana Tsarukaeva.

The Russian failed to progress past the snatch section of the contest, crying and banging her head on the wall as she left the stage.

Christine Girard of Canada came fourth, 3kg above Thiet.

South Korea’s Kim Sook-yung lifted the same overal total as Thiet but finished in sixth because of her greater body weight.

Thiet, together with Hoang Anh Tuan who won Viet Nam’s second ever Olympic silver on Monday, won wild-card places to Beijing.

Shooting stars

Earlier yesterday, Viet Nam’s top marksman Nguyen Manh Tuong, who is the oldest athlete in the Vietnamese Olympic team, could not outdo his performance in the 10m air pistol on Sunday, finishing 38th out of 45 in the 50m pistol.

The five-time SEA Games gold medallist, the first Vietnamese marksman to compete at the Olympics, scored 543 points, finishing 117.4 points off the winner, Jin Jong-oh of South Korea.

In the Southeast Asian region, Tuong is well-known for his achievements over the past decade but he has yet to make his mark on the world stage.

He said the World Shooting Federation’s invitation to compete in the 2008 Olympic Games had come as a complete shock to him.

“He won’t be surprised if he is brushed aside in the qualifying round,” said coach Nguyen Thi Nhung.

“The Olympic competition is too difficult for us. It is on another level,” he said before accompanying Tuong to Beijing.

Tuong failed to go further in the 10m air pistol on Sunday when he came 34th out of 48. His favourite event, the centre-fire pistol, is not featured in the Games.

In Athens, the 48-year-old finished 41st out of 47 in the 10m 60-shot air pistol event.

Meanwhile, Jong-Oh survived a last-minute scare to win the title in a thrilling final yesterday.

Jin ended just 0.2 points ahead of second-placed North Korean Kim Jong-Su to grab his second medal of the Beijing Olympics after winning the silver in the 10m event last Saturday.

World champion Tan Zongliang of China was forced to settle for the bronze despite starting the 10-shot final with a seemingly comfortable two-point lead over his rivals.

Jin, the silver-medallist in Athens four years ago, scored just 8.2 with his final shot against Kim’s 10.5, but had done just enough to clinch gold.

Jin ended the tense final with 660.4 points – 0.2 points ahead of Kim.

Local favourite Tan, who competed in three previous Olympics without success, could manage only 659.5 after failing to hit the 10-point mark in seven of his 10 shots in the final.

Tan, who retires after this year’s Olympics, conceded that his poor 7.9 score in the final had sealed his fate.

“I think I was in a bit of a hurry at the start, but later I settled down,” said Tan, who won the world championships in Croatia in 2006.

“I know it is a bit embarrassing that I have got only a bronze, but at least I have finally won an Olympic medal before ending my career.”

Jin, a member of the South Korean armed forces, said he was delighted and relieved to win.

“I don’t know what happened, but when I looked back and saw a few smiling faces, I realised I had done it,” he said.

“I went in with a lot of confidence because I had come second in Athens, but I still had to shoot my best. It was a close call, but at least it went in my favour.”

Defending champion Mikhail Nestruev of Russia failed to reach the final, managing just 552 in the qualification rounds to finish 24th.

Of the seven shooting golds won so far, China and the Czech Republic have won two each while India, Finland and South Korea share the remaining three. — VNS/AFP