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Posts Tagged ‘Optimism’

Stocks edge up on investors’ optimism

In Uncategorized on May 6, 2010 at 12:42 pm

The Vietnam’s benchmark VN-Index recovered on May 6 as investors were confident after the correction yesterday.

The shares of 226 companies and four mutual funds on the Ho Chi Minh Stock Exchange gained 0.27 percent, or 1.5 points, to 549.51 points. Trading volume severely slid over the last two sessions, however, remained around 81.3 million shares, worth VND2.76 trillion.

On the index, 129 stocks advanced, 65 fell, and 36 remained flat.

Gainers on the city bourse included Mekong Fisheries Joint Stock Company (AAM), CMC Corporation (CMG), Cuong Thuan Investment Corporation (CTI), and Hapaco Group Joint Stock Company (HAP). They all edged up by the daily maximum allowed limit of 5 percent to VND37,800, VND29,400, VND35,700, and VND23,100 respectively.

Vien Dong Investment Development Trading Corporation (VID) topped the list of the most active stock in volume with 2.85 million shares, followed by Vietnam Electricity Construction Joint Stock Corporation (VNE) with 1.94 million shares. Tien Len Steel Corporation Joint – Stock Company (TLH) was next with 1.9 million shares.

Savimex Corporation (SAV) and Thien Nam Trading Import Export Corporation (TNA) dropped 4.86 percent to VND35,200, and 41,100 respectively.

Ngo Han Joint Stock Company (NHW) fell 4.26 percent to trade at VND22,500.

The Hanoi’s HNX-Index added up 4.01 points to 187.22. Trading volume was over 57.3 million shares, worth more than VND2.1 trillion.

The UPCoM-Index rose by 1.25 points to 51.55. A total of 568,266 shares was traded at VND9.56 billion.

Source: SGGP

Dollar gains in Asia on US economic optimism

In World on December 29, 2009 at 11:13 am

The dollar rose in Asian trade Monday, supported by optimism about the outlook for the US economy, dealers said.The dollar gained to 91.57 yen in Tokyo afternoon trade from 91.47 in late Asian trade on Friday, when markets in New York and London were closed for the Christmas holiday.

The euro slipped to 1.4382 dollars from 1.4385 but edged up to 131.70 yen from 131.45.

The dollar’s strength reflected investors’ expectations that the United States will recover from recession more quickly than other major economies, said Marito Ueda, a currency trader at FX Prime.

US data issued last week showed that orders for manufactured durable goods rose in November, while weekly claims for jobless benefits dropped to the lowest level since September 2008.

Markets were looking ahead to the next batch of US indicators due this week, including the Conference Board’s consumer confidence index and housing prices, analysts said.

“Both data should be consistent with a gradual recovery remaining on track,” predicted Calyon economist Sebastien Barbe.

But markets may be getting ahead of themselves in betting on early interest rate hikes by the US Federal Reserve, he added.

“The Fed will not raise rates soon. In addition, fiscal worries are also very much present in the US. In our view, those fears should limit the dollar’s upside at some point,” Barbe said.

The yen failed to get much of a boost from the latest economic data out of Japan. Markets were also unmoved by news that Finance Minister Hirohisa Fujii, 77, was hospitalised for tests due to high blood pressure and fatigue.

Factory output rose for a ninth straight month in November, extending the longest unbroken expansion since 1997 on the back of a recovery in exports, but retail sales remained weak, the government said.

“It’s hard to buy the yen at the moment due to uncertainty over the political and economic outlook,” Ueda said.

Recent voter surveys have shown a sharp drop in support for Prime Minister Yukio Hatoyama, who is embroiled in a political funding scandal.

Against Asian currencies, the dollar fell to 1.4063 Singapore dollars from 1.4064 on Friday, to 1,169.80 South Korean won from 1,174.60, and to 46.40 Philippine pesos from 46.51.

The greenback firmed to 9,490 Indonesian rupiah from 9,480, while holding steady at 32.25 Taiwan dollars and at 33.38 Thai baht.

Source: SGGP Bookmark & Share

Optimism shown at HK fair

In Uncategorized on November 24, 2008 at 1:13 pm

HA NOI — The HCM City Association of Property Businesses (HAPB) was one of a number of Vietnamese real- estate developers who attended the MIPIM Asia 2008 exhibition, which took place in Hong Kong from November 19-21.

The event, the third regional real-estate exhibition, attracted over 2,000 businesses from over 50 countries and territories, 611 of whom displayed their products.

Le Huu Duy, from the HAPB, told the Vietnam News Agency that many foreign real-estate developers were gathering information about implementing major projects in Viet Nam and displaying an interest in the market, despite the current bleak financial picture.

During a workshop on Viet Nam last Thursday, participants were optimistic about the Southeast Asian market’s future, praising the recent measures taken by the Vietnamese Government to stabilise the economy. They also predicted that the Vietnamese economy, particularly its property market, would stay the course in the future. —