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Low pressure system to bring downpours to central, southern Vietnam

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

A low pressure zone has formed off the south central coast and will cause medium to heavy rains in central and southern provinces, the National Hydro Meteorological Forecasting Center said Monday.

Flooding on a street in Ho Chi Minh City’s Binh Thanh District at 1 AM on Oct. 11 caused by torrential rains and high tide (Photo: Tuoi Tre)

On Monday afternoon, the system was centered 10-12 degrees north latitude and 110-112 degrees east longitude, off the coast from Binh Dinh to Binh Thuan provinces.


The national weather bureau said that the low pressure system has led the southwesterly winds to intensify in the southern region. Ho Chi Minh City thus will be cloudy and rainy in the next few days.


Boats on the waters off the southern region should keep watch of thunderstorms and prone tornados.

Source: SGGP

Liquidity drops to 20-session low

In Uncategorized on October 14, 2010 at 6:32 pm

Movements of the VN-Index on September 22. (Photo: vietstock.vn)VN-Index, which tracks 256 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, rebounded on September 22. Liquidity severely fell to the lowest level since the beginning of this month as market lacked support from foreign investors.

The benchmark edged up 0.13 percent, or 0.58 points, to finish at 453.9 points.


Around 33.4 million shares worth VND908.2 billion changed hands, accounting for nearly 60 percent of trading volume the previous day.


Of the index, there were 80 gainers, 105 losers, while 76 remained unchanged.


Ocean Group Joint Stock Company (OGC) led the list of most active shares in volume for six consecutive days with 2.33 million shares changing hands.


Vietnam Export Import Commercial Joint Stock Bank (EIB) continued to rank second with 1.18 million shares.


Quoc Cuong Gia Lai Joint Stock Company (QCG) followed with 1.09 million shares.


Construction Joint Stock Company No.5 (SC5) shot up 4.98 percent to VND48,500.


Gia Lai Cane Sugar Thermoelectricity Joint Stock Company (SEC) advanced 4.96 percent to VND25,400.


OPC Pharmaceutical Joint-Stock Company (OPC) ceased its three-day losing streak, climbing 4.9 percent to VND45,000.


From September 20 to November 20, Viet Capital Securities Co., a major shareholder of OPC Pharmaceutical Joint-Stock Company (OPC), registered to sell 200,000 shares and buy 200,000 shares, sending its holdings to 581,581 shares, to restructure its investment category.


Decliners on the city bourse included South Logistics Joint Stock Company (STG), Ben Tre Forestry and Aqua Product Import Export Joint Stock Company (FBT), and Lilama 10 Joint Stock Company (L10).


From September 23 to November 23, Tran Van Nghia, member of the Board of Supervision of construction company Lilama 10 Joint Stock Company (L10), registered to sell 7,000 shares, cutting his holdings to 200 shares, accounting for 0.002 percent of the company’s chartered capital, for his family’s expenses.


Meanwhile, the smaller bourse in the north moved contrastingly as the Hanoi’s HNX-Index slid 0.04 points, or 0.03 percent, to 131.53 points. Trading volume sharply dropped over the previous session as just 26 million shares changed hands at VND655 billion.


The UPCoM-Index dipped 0.98 points to 46.75 points. Around VND6.8 billion were spent on 0.33 million shares on the market of unlisted shares as of 11:15 am local time.

Source: SGGP

VN-Index wraps week on low note

In Uncategorized on October 14, 2010 at 6:30 pm

Movements of VN-Index on October 1. (Photo: vietstock.vn)Investors’ wariness and reservation prevented stocks on the Ho Chi Minh Stock Exchange from advancing on October 1.

Vietnam’s benchmark VN-Index, a gauge of 261 companies and five mutual funds, sank 0.62 percent, or 2.81 points, to close week at 451.71.


Trading volume on the city bourse fell by 23 percent in value over the previous day as just 35.7 million shares changed hands at VND933.3 billion.


Among the index members, 50 increased, 151 declined, while 65 stalled.


With 2.89 million shares changing hands today, Ocean Group Joint Stock Company (OGC) continued to won the spot of the most active share in volume.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) chased after with 1.5 million shares, followed by Vietnam Export Import Commercial Joint Stock Bank or Eximbank (EIB) with 1.03 million shares traded.


Biggest losers on southern market were the newly listed Vimedimex Medi – Pharma Joint Stock Company (VMD), OPC Pharmaceutical Joint-Stock Company (OPC), and Meca Vneco Investment and Electricity Construction Joint Stock Company (VES). They all slumped the daily maximum allowed limit of 5 percent to VND30,400, VND41,800, and VND20,900 respectively.


Wood producer Duc Long Gia Lai Group Joint Stock Company (DLG) grew 4.69 percent to VND20,100.


General Materials Biochemistry Fertilizer Joint Stock Company (HSI) went up the first time in nine trading sessions, surging 4.27 percent to VND12,200.


Saigon Fuel Company (SFC) emerged 4.11 percent to VND35,500. The company’s revenues in the first eight months of this year topped VND997 billion. Post-tax profits reached VND47 billion, accounting for 103.8 percent of this year’s goal, and 1.6 times higher year-on-year.


The Hanoi’s HNX-Index recoiled 1.48 points, or 1.16 percent, to 125.81 points. Trading volume on the northern bourse plunged to 22.9 million shares for the first time since the end of August, worth VND554 billion.


The UPCoM-Index slipped 0.01 points to 45.66 points. Around 0.2 million shares were traded at VND3.98 billion.

Source: SGGP

Vietnam bans circulation of Indian Amoxicilin due to low quality

In Uncategorized on October 14, 2010 at 2:50 pm

The Drug Administration of Vietnam, part of Vietnamese Ministry of Health, decided on Oct.3 to suspend the circulation of the antibiotic drug Amoxicilin 500mg in the capsule form due to failing to satisfy quality demand.


The drug is made by Minimed Laboratory India and imported by the Cuu Long Pharmaceutical Joint-Stock Company or Pharimexco in the Mekong delta province of Vinh Long.


It has been allowed in Vietnam as a pharmaceutical ingredient under registration production lot of 1431 with expiry date May 30, 2012.


All substandard drugs in the capsule form were ordered to recall by the importer and the manufacturer.


 

Source: SGGP

Liquidity falls to one-month low

In Uncategorized on August 6, 2010 at 11:21 am

Movements of VN-Index on August 6. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index declined for the third day in a row August 6, as the stock market did not find necessary support to prevent the index from falling.

The shares of 251 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange finished at 482.82 points, losing 0.7 percent, or 3.39 points.


Of the index, 53 stocks gained, 156 dropped, while 46 treaded water.


Liquidity on the city bourse severely fell to its lowest level in a month, 36.66 million shares, worth VND1.03 trillion.


Vinafco Joint Stock Corporation (VFC) was the most active stock by volume with 1.4 million shares changing hands. The company’s shares traded up 4.49 percent.


From July 26 to 29, Vietnam Investments Funds I.L.P, a major shareholder of VFC, sold 300,000 shares, reducing its holdings to 1,379,016 shares, accounting for 6.9 percent of VFC’s chartered capital.


From August 9 to September 30, Vietnam Investments Funds I, L.P, registered to sell 1 million shares, sending its holdings to 379,016 shares, restructuring investment category.


Transport company Thuan Thao Corporation (GTT), located in the coastal central province of Phu Yen, tagged along with 1.07 million shares.


It was followed by Thanh Cong Textile Garment Investment Trading Joint Stock Company, which closed down 4.95 percent to VND21,100 today, with more than 1 million shares traded.

Movements of VN-Index from August 2 to 6. (Photo: vietstock.vn)

Cadovimex Seafood Import-Export and Processing Joint Stock Company (CAD), which contracted 7.26 percent to VND11,500, was the biggest loser on southern market. The company will issue 800,000 bonus shares to its current shareholders at a ratio of 10:1.


Petroleum Equipment Assembly and Metal Structure Joint Stock Company (PXS) gave up 4.96 percent to VND23,000. The company announced its net profits for the first six months of the year to be VND21.68 billion, which satisfies 64 percent of this year’s goal; the company’s profits for the second quarter reached VND16.83 billion.


Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) and South Vietnam Container Shipping Joint Stock Company (VSG) both edged down 4.84 percent to VND41,300, and VND11,800 respectively.


From August 9 to October 8, Do Hoang Hai, father of Do Le Hong Chau – member of FDC’s Board of Directors, registered to buy 151,000 shares and sell 112,000 shares, sending his holdings to 816,605 shares, restructuring his investment category.


In the same period, Tran Lan Thao Nguyen, daughter of Tran Huu Chinh – chairman of FDC, registered to sell 100,000 shares, and buy 120,000 shares to restructure her investment category. Her holdings will be at 132,145 shares after the transaction.


Hapaco Group Joint Stock Company (HAP) advanced 4.89 percent to VND19,300.


Information and Networking Technology Joint Stock Company (CMT) curbed its eight-consecutive-trading-session losing streak, rising 4.8 percent to VND34,900.


Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) added up 4.7 percent to VND31,200.


Hanoi’s HNX-Index slashed 1.31 points, or 0.89 percent, to close at 146.14. Trading volume dropped to 27.53 million shares, valued at approximately VND738.48 billion.


The UPCoM-Index also dipped 0.83 points to 50.41 as of 11 am local time. A total of 193,910 shares changed hands at VND2.99 billion.

Source: SGGP

Stocks add little after starting week on low note

In Uncategorized on August 3, 2010 at 11:20 am

Movements of VN-Index on August 3. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index was expected to rise strongly as green status was maintained during the trading session on August 3. However, that rising momentum weakened by the end of the trading session as investors remained wary.

The shares of 251 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange edged up 0.06 percent, or 0.29 points, to 491.9.


Of the index, 75 stocks gained, 128 fell, while 52 remained unchanged.


Trading volume recovered as 42.3 million shares, worth VND1.26 trillion, changed hands.


With 1.71 million shares changing hands today, Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM) continued to top the list of most active shares by volume for the second day.


Saigon Securities Inc. (SSI), the country’s largest brokerage, took the second rank with 1.17 million shares.


Investment and Trading of Real Estate Joint stock Company (ITC) tagged along with 1.15 million shares.


Nam Viet Corporation (ANV) jumped the daily maximum allowed limit of 5 percent to VND18,900.


Thong Nhat Rubber Joint Stock Company (TNC) surged by 4.95 percent to VND21,200.


From June 29 to July 15, Chau Thi Hong Diep, wife of Le Van Loi – chairman of Thong Nhat Rubber Joint Stock Company (TNC), had registered to buy 50,000 shares, but she only bought 12,210 shares because prices were not as expected, raising her holdings to 157,210 shares, accounting for 0.82 percent of the company’s chartered capital.


Idico Urban and House Development Joint Stock Company (UIC) advanced 4.91 percent to VND29,900.


South Logistics Joint Stock Company (STG), which lost 4.88 percent to VND39,000, led the losers on the city bourse.


DIC Investment and Trading Joint Stock Company (DIC) shrank 4.86 percent to VND33,300.


Techno – Agricultural Supplying Joint Stock Company (TSC) moved backwards for the second consecutive day, slipping 4.82 percent to VND21,700.


Hanoi’s HNX-Index dipped 0.9 points, or 0.59 percent, to finish at 150.48. Liquidity on the market slightly improved over the previous day, climbing to 28.52 million shares, valued at VND806.84 billion.


The UPCoM-Index also contracted 0.03 points to 51.74. A total of 404,280 shares changed hands, at VND8.79 billion, as of 11 am local time.

Source: SGGP

Low quality ginseng rampant in Vietnamese market

In Uncategorized on July 17, 2010 at 4:48 pm

Only after its Chinese counterpart overtook Vietnamese ginseng in local markets, did people start realizing that low quality herbal medicines are rampant in Vietnam, causing confusion among customers.

Varieties of ginseng sold in the market (Photo: SGGP)

Shop assistants in traditional medicine shops on Hai Thuong Lan Ong, Trieu Quang Phuc, Luong Nhu Hoc Streets, all part of an area famous for Chinese traditional medicines in District 5, Ho Chi Minh City, said they can supply as much ginseng demand requires.


At a store on Luong Nhu Hoc Street, ginsengs stuffed in huge nylon burlap sacks, along with other plant and bark products, do not indicate their place of origin on the packaging, which only advertises their cost.


Meanwhile, the owner withdrew varieties of ginseng from a drawer, claiming it had Korean origins, but they smelled moldy and looked like dried turnips.


According to some herbalists, most of ginseng sold by the kilogram usually comes from China and are extractions of the essence of young herbs. Traders only purchase residues to sell; some of them even add refuse to the residues to steep, in order to create a more weighty supply and then soak the ginseng steeped in garbage with chemicals so it lasts longer.


A recent survey conducted by Vietnamese Ministry of Health revealed that more than 50 percent of herbs sold in these streets are imported illegally, and have unclear origins. Furthermore, the quality of 90 percent of Chinese herbs has not been tested by responsible agencies.


Not only is Chinese ginseng’s quality is dubious, Korean varieties are of doubtful eminence as well. Employees of two Korean ginseng exclusive importers on Nguyen Thong Street in District 3 insisted their products have good quality, but did not have secondary labels of Vietnamese importers.


Dr. Tran Cong Luan, Director of Ho Chi Minh City’s Ginseng and Medical Materials, said high quality and false ginsengs jumble together in the higgledy-piggledy market.


For instance, Ngoc Linh ginseng, a precious herb of Vietnam, has been recently sold at over VND3 million per kilogram in the highlands province of Kon Tum and the central province of Quang Nam.  However, the cost of genuine herbs fetch over VND8 million a kilogram; tests proved cheap ginseng came from China and showed that they had been soaked with chemicals to keep longer.


Doctor Le Hung from the Traditional Medicine Institute in Ho Chi Minh City advised people to purchase ginseng verified with certificates issued by a center for medical materials, and not to spend money on shady products of dubious origin.

Source: SGGP

Hotels stay optimistic in low season

In Uncategorized on July 15, 2010 at 9:02 am




Hotels stay optimistic in low season


QĐND – Monday, July 12, 2010, 20:56 (GMT+7)

The number of international tourists to Vietnam has once again risen sharply, allowing the domestic tourism industry to maintain a high growth rate. This also helps hotels stay optimistic, even though it is the low season for receiving international tourists.


Grant Thornton, a consultancy service provider, released a report that showed 32 percent of 7500 representatives of private enterprises in Vietnam have become more confident in the hotel business this year.


The report revealed that in 2010, up to 40 percent of hotel enterprises hope that their revenue will increase by 19 percent, plus a total of 30 percent of hotels think their profit will increase by 7 percent over 2009. The difficulties of 2009 have prompted hotels to slash room rates by 31.9 percent to attract clients.


In the first half of 2010, Vietnam attracted 2.51 million international tourists, an increase of 32.6 percent in comparison with the same period of 2009. Meanwhile, the number of domestic travelers was 17 million, equal to 2/3 of the total for all of 2009.


Kenneth Atkinson, Managing Director of Grant Thornton, explained that increasing confidence in Vietnam’s hotel market is proven by foreign companies seeking opportunities to manage more hotels and new projects.


Atkinson told Thoi bao Kinh te Saigon that, in general, confidence in the hotel business is much higher than in 2009. Accor, the leading hotel management group in Europe, has announced that it will manage at least 12 hotel projects under construction in Vietnam.


Patrick Basset, Deputy President of Accor and in charge of markets in Vietnam, the Philippines, South Korea and Japan, explained that the group can see big opportunities, not only for five-star hotels, but for four and three-star hotels as well. Currently, Accor is managing 14 hotels in Vietnam, including Sofitel, MGallery, Novotel and Mercure.


Atkinson added that foreign hotel management groups want to expand operations in Vietnam this year, because the number of foreign tourists to Vietnam has increased again and domestic tourism maintains high growth rates


According to Savills Vietnam, the real estate service provider, the average hotel room occupancy of 3-5 star hotels in HCM City was 65 percent in the second quarter of 2010, dropping from 72 percent in the first quarter. The second quarter also marks the low season for tourism in Vietnam.


Tash Tobias, Hotel Director of InterContinental Asiana Saigon Complex, agreed that hotel occupancy in the second quarter is generally lower than the first.


Tobias hopes that the occupancy of InterContinental Asiana Saigon will continue expanding every quarter in 2010 because she can see positive signs of the national economic recovery, and she believes that Vietnam is an attractive destination for foreign tourists.


Source: VNN


Source: QDND

Trade deficit at a record low

In Uncategorized on July 15, 2010 at 8:59 am




Trade deficit at a record low


QĐND – Monday, July 12, 2010, 20:53 (GMT+7)

June saw trade deficit to a record low of dropping approximately US$742 million, down 14.7 percent from the previous month, according to the latest customs figures.


The country’s total import-export turnover was estimated at US$13.38 billion (exports worth US$6.32 billion and imports US$7.06 billion). In comparison to May, export earnings increased slightly but imports decreased by 1.7 percent.


In the first six months of this year, the export turnover hit US$32.47 billion, up 17 percent compared to the same period last year, and accounting for 53.2 percent of the yearly plan. In the same period, the import turnover reached US$38.76 billion, up 29.1 percent against last year and making up 52.4 percent of the yearly plan.


As a result, the trade deficit in the first half of 2010 stayed at US$6.29 billion, equal to 19.4 percent of the total export turnover and even lower than the target set by the National Assembly.


Source: VOV


Source: QDND

Stocks close week on low note

In Uncategorized on July 2, 2010 at 2:23 pm

Movement of VN-Index on July 2. (Photo: Vietstock.vn)Vietnam’s benchmark VN-Index extended its losing streak for a third straight day on July 2, amid investor caution.

The shares of 244 companies and four mutual funds listed on Ho Chi Minh Stock Exchange slid 0.07 percent, or 0.37 points, to finish at 503.65. Trading value dropped to 15-session low of VND1.09 trillion, approximately 43.2 million shares were traded.


On the city bourse, 123 stocks advanced, 69 declined, while 56 treaded water.


Petrolimex International Trading Joint Stock Company (PIT) lost 9.09 percent to VND20,000 from VND22,000 yesterday.


Hanoi Maritime Holding Company (MHC) ended its four-day gaining streak, reducing 4.72 percent to VND10,100.


Plastic producer Do Thanh Technology Corporation (DTT) traded down 4.29 percent at VND15,600.


From July 5 to September 5, Ngo Minh Hai, deputy general director of Do Thanh Technology Corporation (DTT) registered to sell 5,000 shares to cover family expenses, sending his holdings to 5,419 shares.


Between July 5 and 30, Nguyen Anh Dung, brother of Nguyen Anh Hao – chief executive officer of the company, registered to sell 2,110 shares, reducing his holdings to 5 shares, reorganizing his investment category.


Saigon Thuong Tin Commercial Bank or Sacombank (STB) won the position of most active shares in volume with 1.9 million. 


Thuan Thao Corporation (GTT) followed right behind with 1.84 million shares changing hands, tagged along by Ocean Group Joint Stock Company (OGC), which saw 1.72 million shares traded.


Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) and Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) were the biggest gainers today, adding 5 percent to VND39,900 and VND27,300 respectively.


From July 5 to September 5, Nguyen The Hau, deputy general director of Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC), registered to sell 8,000 shares and buy 5,000 shares to restructure his investment category.


Construction and Materials Trading Joint Stock Company (CNT) and Ha Tien Transport Joint Stock Company (HTV) advanced 4.98 percent to VND29,500 and VND21,100 respectively.


Between January 1 and June 20, Tran Minh Huy, chief accountant of Ha Tien Transport Joint Stock Company (HTV) registered to sell 5,000 shares and sold 2,000 shares, decreasing holdings to 3,000 shares, accounting for 0.03 percent of the company’s chartered capital.


In contrast, the smaller bourse in the north performed better and closed week on a bright note as the Hanoi’s HNX-Index gained as much as 0.26 percent, or 0.41 points, to close at 158.39. Liquidity fell sharply to 30.6 million shares, worth VND898.5 billion.


The UPCoM-Index rose 2.64 points to 52.42. Around 1.2 million shares changed hands, at VND23 billion, as of 11:15 am local time.

Source: SGGP