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Posts Tagged ‘loss’

VN-Index evades sharp loss

In Uncategorized on December 21, 2010 at 9:36 am

Vietnam’s benchmark VN-Index successful escaped from losing trend on December 21 as foreign investors increased buying, helping most blue-chip stocks to rebound.

The shares of 274 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange recovered 0.73 percent, or 3.49 points, to close at 481.78 points.


On the benchmark, 134 stocks advanced, 79 dropped, while 66 treaded water.


Trading volume slightly rose over the previous trading session. Around 68.32 million shares changed hands at a value of VND1.69 trillion.


Saigon Securities Inc. (SSI), the country’s largest brokerage, topped the list of most active shares in volume with 5.39 million shares changing hands.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) chased after with 4.85 million shares, followed by Tan Tao Investment Industry Corporation (ITA) with 4.42 million shares traded.


Vien Dong Pharmaceutical Joint Stock Company (DVD), Tay Nguyen Electricity Investment Joint Stock Company (TIC), and Saigon Beverages Joint Stock Company (TRI) all fortified the daily maximum allowed limit of 5 percent to VND42,000, VND10,500, and VND6,300 respectively.


Traphaco Joint Stock Company (TRA) accelerated the second day, soaring 4.94 percent to VND46,700.


Vinaship Joint Stock Company (VNA) rebounded 4.93 percent to VND14,900.


The newly listed IDICO Infrastructure Development Investment Joint Stock Company (HTI) plunged 5 percent to VND19,000.


Binh Thuan Hamico Mineral Joint Stock Company (KSA) fell for four consecutive days, losing 4.94 percent to VND46,200.


Anvifish Joint Stock Company (AVF) snapped its four-day winning streak, shrinking 4.82 percent to VND21,700.


Meanwhile, the smaller bourse in the north made a contrast move as the Hanoi’s HNX-Index cut 1.46 percent, or 1.7 points, to close at 116.7 points. Trading volume slightly improved over the previous session as around 53.12 million shares changed hands at VND961.4 billion.


The UPCom-Index soared 1 point to 41.87. A total of 200,000 shares changed hands at a value of VND2.7 billion as of 11:05 am local time.

Source: SGGP

VN-Index revives after big loss

In Uncategorized on October 22, 2010 at 11:53 am

Movements of VN-Index on October 21. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index slightly rose on October 21 after a sharp correction made the previous day as investors calmed down.

The index of 264 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange gained 0.65 percent, or 2.88 points, to finish at 445.05 points.


Trading volume dropped by 30 percent over the previous trading session as just around 28.7 million shares, worth VND690 billion changed hands.


Among the index members, 97 advanced, 109 fell, and 63 remained unchanged.


Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) won the position of most active share in volume with 1.74 million shares changing hands.


It was followed by Ocean Group Joint Stock Company (OGC) with 1.47 million shares.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) ranked third with 1.16 million shares.


Sacombank Securities Joint Stock Company (SBS) and Taya Vietnam Electric Wire and Cable Joint Stock Company (TYA) both soared 5 percent to VND25,200 and VND6,300 respectively.


Cuong Thuan Investment Corporation (CTI) rebounded 4.88 percent from a loss of 3.53 percent the previous day to trade at VND34,400.


Mekophar Chemical Pharmaceutical Joint Stock Company (MKP) emerged 4.82 percent to VND50,000.


Meanwhile, Ben Tre Aquaproduct Import and Export Joint Stock Company (ABT) slashed 18.89 percent to VND43,800. The company will pay dividends in cash at a ratio of 20 percent on November 11. It will also issue 2,267,927 shares to its current shareholders at a ratio of 20 percent.


An Giang Fisheries Import & Export Joint Stock Company (AGF) gave up 7.52 percent to VND24,600. The company will advance dividends in cash for the first term of this year to its current shareholders at a ratio of 10 percent on December 6.


S.P.M Corporation (SPM) lost 5 percent to VND66,500.


The Hanoi’s HNX-Index struggled to gain 0.24 percent, or 0.27 points, to close at 112.55 points. More than 24.8 million shares traded at VND488.8 billion, a decrease of 30 percent in volume and 26 percent in value over the previous day.


The UPCoM-Index rose 0.39 points to 42.98 points. A total of 0.23 million shares, worth more than VND3.6 billion, were changed hands.

Source: SGGP

VN-Index revives after big loss

In Uncategorized on October 22, 2010 at 11:53 am

Movements of VN-Index on October 21. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index slightly rose on October 21 after a sharp correction made the previous day as investors calmed down.

The index of 264 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange gained 0.65 percent, or 2.88 points, to finish at 445.05 points.


Trading volume dropped by 30 percent over the previous trading session as just around 28.7 million shares, worth VND690 billion changed hands.


Among the index members, 97 advanced, 109 fell, and 63 remained unchanged.


Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) won the position of most active share in volume with 1.74 million shares changing hands.


It was followed by Ocean Group Joint Stock Company (OGC) with 1.47 million shares.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) ranked third with 1.16 million shares.


Sacombank Securities Joint Stock Company (SBS) and Taya Vietnam Electric Wire and Cable Joint Stock Company (TYA) both soared 5 percent to VND25,200 and VND6,300 respectively.


Cuong Thuan Investment Corporation (CTI) rebounded 4.88 percent from a loss of 3.53 percent the previous day to trade at VND34,400.


Mekophar Chemical Pharmaceutical Joint Stock Company (MKP) emerged 4.82 percent to VND50,000.


Meanwhile, Ben Tre Aquaproduct Import and Export Joint Stock Company (ABT) slashed 18.89 percent to VND43,800. The company will pay dividends in cash at a ratio of 20 percent on November 11. It will also issue 2,267,927 shares to its current shareholders at a ratio of 20 percent.


An Giang Fisheries Import & Export Joint Stock Company (AGF) gave up 7.52 percent to VND24,600. The company will advance dividends in cash for the first term of this year to its current shareholders at a ratio of 10 percent on December 6.


S.P.M Corporation (SPM) lost 5 percent to VND66,500.


The Hanoi’s HNX-Index struggled to gain 0.24 percent, or 0.27 points, to close at 112.55 points. More than 24.8 million shares traded at VND488.8 billion, a decrease of 30 percent in volume and 26 percent in value over the previous day.


The UPCoM-Index rose 0.39 points to 42.98 points. A total of 0.23 million shares, worth more than VND3.6 billion, were changed hands.

Source: SGGP

IMF head laments ‘loss of momentum’ in financial reform

In Uncategorized on June 18, 2010 at 4:25 am

World leaders’ commitment to global reforms of the financial sector is flagging, IMF head Dominique Strauss-Kahn said on Thursday

 World leaders’ commitment to global reforms of the financial sector is flagging, IMF head Dominique Strauss-Kahn said on Thursday.


“I am sometimes a bit worried about the loss of momentum” in the reform of the financial sector, in face of the “huge” task ahead, Strauss-Kahn told a conference.


Previously, “leaders were very committed to do something in the financial sector but as the crisis vanished, most of them are more concerned by domestic questions,” the head of the International Monetary Fund said.


“It would be unfair to say that the momentum has disappeared … nevertheless I don’t see the pressure as big and strong as it was a few months ago,” Strauss-Kahn added.


Governments in the United States and Europe have been scrambling to revamp and adapt banking rules since the collapse of US investment bank Lehman Brothers in September 2008 sparked a global credit crunch.


The IMF however has said that more direct measures than those proposed so far are needed, such as levies tied to risk presented by individual banks or limits to the size of their business.


Strauss-Kahn also said he was concerned about the consistency in priorities in financial reform across borders, citing different approaches in the United States and Italy as examples.


“Having an inconsistent system in the biggest economies … is of course creating new cause for regulatory arbitrage and the trigger for the next crisis.


“The countries having experienced some problems in the financial sector, namely the US and the European countries, are really keen to do something,” he said.


However, those countries that have not had major problems in the financial sector, like Canada and some emerging economies, tend to say that major reforms are not needed, he added.

Source: SGGP

Tourists at loss to find local foods

In Vietnam Travel on March 17, 2010 at 2:49 am




Tourists at loss to find local foods


QĐND – Tuesday, March 16, 2010, 20:43 (GMT+7)

Visitors to HCM City usually find it hard to find local food specialties like candies to take back home as gifts due to the absence of tourist stores even though the country is a haven for tropical farm products.


“I don’t know where to buy locally made confectionery,” admitted Phan Quoc Viet, an English speaking tour guide with Sunrise Travel Agency.


He said he was embarrassed once when asked by guests to take them to a shop to buy candies.


“I know confectionery can be found at any local supermarket but the problem is they were looking for a store specialising in local brands, something not easy to find.”


“So I just recommended Ben Thanh Market.”


“Candies served in hotel lounges are mostly imported,” he explained.


The country exports fruits like rambutan, pine-apple, coconut, jackfruit, and banana to more than 60 countries and territories, according to the Institute of Southern Fruits.


But processors pay little attention to international visitors as potential customers despite the fact that many of them love to sample local tropical fruits or products made from them, like candies and cookies.


“I especially love cakes made of coconut or cassava which I eat right away because they taste exotic, delicious, and really Vietnamese,” a Japanese visitor who identified herself as just Shiubu said.


She would love to buy chocolate cookies which are tasty and much cheaper than in Japan, she said.


“Except cashew nuts and coffee, which are typical of the country, I don’t know what other specialties I should take home,” Italian tourist Laure Pausini said.


A German tourist who was travelling with his wife, said he was excited to see how coconut candies and rice cakes are hand-made in the Mekong Delta localities of Ben Tre and Can Tho.


“If these agricultural products are made easily accessible to tourists in cities, I think they will become very popular,” he added.


Tu Quy Thanh, director of Lien Bang Travel Agency, stressed the need to open specialised shops for tourists that sell a variety of local specialties.


“All goods there must be of high quality, safe, and produced by credible companies,” he said.


“We should make tourists spend more in the country.”


He said foreign guests are interested in desiccated fruits, coffee, and tea.


“If local travel agencies support the opening of a specialty store for international tourists, we will be more than happy to feature our products there,” Nguyen Anh Trung, deputy general director of Givral Bakery, said.


Source: VNA


 


Source: QDND

VN-Index down as investors rue loss of leverage

In Vietnam Stock Market on December 3, 2009 at 10:45 am

The VN-Index fell for the second straight day December 3 as sentiments remained low following news that the Government has called halt to the bank-loan subsidy program.


The index, which tracks 187 companies and four open-ended funds on the Ho Chi Minh City Stock Exchange, lost 0.87 percent or 4.34 points to close at 494.80. Around 42.37 million shares worth VND1.68 trillion (US$214.8 million) changed hands.


Declines outnumbered gains by 103 to 55, while 33 remained unchanged.


The fall was, however, less steep than on Wednesday when the index was the biggest loser globally with a fall of 3.1 percent after the government said it would wind up the program intended to boost consumption and reduce manufacturing costs on December 31.


“The withdrawal of leverage in the market …created some downward pressure,” Adrian Cundy, head of research at the Ho Chi Minh City-based VinaSecurities Joint Stock Co., the brokerage unit of the VinaCapital Group, was quoted by Bloomberg as saying.


The declines were led by 620 – Chau Thoi Concrete Corp. (BT6) based in Binh Duong Province which dipped by the maximum allowed limit of 5 percent to VND57,000.


Long An Province-based construction and real estate player Hoang Long Group fell 4.93 percent to VND28,900 and the city-based Seafood Joint Stock Co. (TS4) slid 4.88 percent to VND37,000.


Saigon Commercial Bank or Sacombank (STB) which finished flat at VND25,300 was the most active stock in volume as having nearly 5.2 million shares changing hands.


Vietnam Export Import Bank or Eximbank (EIB) came next with nearly 5 million shares traded at a 2.47 percent increase or VND24,900, followed by Saigon Securities Inc. (SSI) with 1.7 million shares. The country’s largest brokerage added 1.29 percent to VND78,500.


Hanoi’s HNX-Index lost 0.64 percent, or 1.02 points, to close at 160.12. More than 18.76 million shares were traded at VND645 billion.


The UP-CoM Index gained 0.32 percent to 56.60.


On the global market, the Nasdaq rose on Wednesday as strong online holiday sales boosted shares of retailers, including Amazon.com, and relieved some concerns about the consumer. The Dow Jones edged lower as falling oil prices prompted investors to sell energy shares.


Source: SGGP Bookmark & Share

Gov’t sorry for loss of life in US bus crash

In Uncategorized on August 12, 2008 at 11:28 am

HA NOI — Foreign Ministry spokesman Le Dung expressed deepest condolences to families of victims of a recent bus crash in northern Texas, in the US, which killed and injured many people of Vietnamese descent.


“We are so sorry to hear about the accident,” the spokesman said yesterday while responding correspondents’ question regarding the crash.


The bus, with 55 Vietnamese on board, went off a bridge and flipped into a creek around midnight when it was on its way from Houston to Missouri last week. —