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Posts Tagged ‘rally’

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

Thai ‘Red Shirts’ rally six months after crackdown

In Uncategorized on November 20, 2010 at 6:14 am

Protesters stage anti-Japan rally in China

In Uncategorized on October 24, 2010 at 12:01 pm

BEIJING, Oct 24, 2010 (AFP) – Around 200 people protested against Japan in northwest China on Sunday, witnesses said, the latest demonstration amid a simmering diplomatic row between the two nations over a disputed island chain.

The protesters rallied in a square in Lanzhou city, the capital of Gansu province, chanting patriotic and anti-Japanese slogans amid a heavy police presence, according to Internet postings and local residents.

A worker in a hotel next to the square told AFP that a large number of police had been deployed at the demonstration.

Postings and pictures of the demonstrations which appeared on the Internet were removed, apparently by China’s censors, and police refused to comment on the protest when contacted by AFP.

China and Japan are trying to rebuild ties that were badly strained after Tokyo arrested a Chinese trawler captain near a disputed island chain in the East China Sea over six weeks ago, sparking a barrage of protests from Beijing.

Both sides claim the islands in the East China Sea which are known as Diaoyu in China and Senkaku in Japan.

Tokyo subsequently released the captain, but the incident has sparked a series of sometimes violent anti-Japan protests in China.

Sunday’s demonstration came after China’s foreign ministry on Saturday called for more efforts to improve bilateral ties.

“China hopes to make joint efforts with the Japanese side to safeguard and advance the Sino-Japanese strategic and mutually beneficial relations,” ministry spokesman Ma Zhaoxu said in a statement.

On Saturday a similar protest occurred in southwest China’s Deyang city, while last week anti-Japanese demonstrations appeared in Wuhan, Shifang, Chengdu, Xian and other cities.

Also on Saturday, about 300 anti-China protesters rallied in western Japan’s Takamatsu city, the latest in a series of demonstrations against Beijing’s claim to the disputed island chain.

Source: SGGP

Thai ‘Red Shirts’ stage mass rally

In Uncategorized on October 17, 2010 at 10:25 am

AYUTTHAYA, Thailand, Oct 17, 2010 (AFP) – Thousands of Thailand’s anti-government “Red Shirts” joined a mass rally on Sunday in the latest large demonstration by the movement in recent weeks.

Police estimated 3,000 people had joined the gathering in the football stadium in the town of Ayutthaya about one hour’s drive north of Bangkok.

Over 1,000 police were deployed to provide security for the event but authorities said the mood remained calm.

“The situation so far is normal, there is no sign of any trouble,” said police Colonel Sombat Choochaiya.

Reds from Bangkok and other regions in the kingdom began proceedings by tying red ribbons on to a bridge in the centre of the town.

The rally is expected to go on late into the evening and include speeches by opposition Puae Thai party members and a firework display.

A similar Reds gathering in Bangkok on September 19 saw an estimated 6,000 people join a rally to mark four years since a coup ousted their hero Thaksin Shinawatra as premier and commemorate those slain in a May crackdown on movement’s protests in the capital.

Last Sunday another 6,000 people rallied in Bangkok to mark six months since a night of bloody clashes with the military, which left 25 people dead.

Mass demonstrations by the Red Shirts in the heart of Bangkok in April and May descended into violence that left 91 people dead — mainly civilians — in fighting between demonstrators and armed soldiers.

The mainly poor and working class Reds accuse the current government of being elitist and undemocratic and want immediate elections.

Bangkok and three surrounding provinces — but not Ayutthaya — remain under a state of emergency, which gives the authorities broad security powers.

Source: SGGP

Thousands in China, Japan rally over island claims

In Uncategorized on October 17, 2010 at 10:24 am

 Thousands of Chinese marched in the streets in sometimes violent protests Saturday against Japan and its claim to disputed islands, a show of anger far larger than past protests over the competing territorial claims.

The Chinese government said the protests were “understandable” but that patriotism should be expressed in a rational way.

Photos from the southwestern city of Chengdu and the central city of Zhengzhou showed hundreds of people marching with banners and signs protesting Japan’s claim on what China calls the Diaoyu islands. Japan calls them the Senkaku islands.

A man holds a banner while marching during an anti-Japan protest in downtown Zhengzhou, in central China’s Henan province, Saturday, Oct. 16, 2010.

Japanese retailers Ito-Yokado and Isetan said protesters in Chengdu broke windows and showcases in their stores, Kyodo News agency reported.

China’s state-run Xinhua News Agency said more than 2,000 people protested in Chengdu and thousands of college students gathered in the northern city of Xian.

The report was in English only. The protests were not reported in Chinese-language state media, and many comments and photos were quickly removed from mainland websites.

Protests in China are often quickly shut down or heavily controlled. It was not clear whether the organizers had permission to demonstrate Saturday.

Foreign Ministry spokesman Ma Zhaoxu said in a statement on the ministry’s website late Saturday that China and Japan were important neighbors to each other and should resolve their differences through dialogue.

“It is understandable that some people expressed their outrage against the recent erroneous words and deeds on the Japanese side,” Ma said. “We maintain that patriotism should be expressed rationally and in line with law.”

The Chinese demonstrations appeared to be in response to online reports about a planned protest in Tokyo, where about 2,500 people held flags and marched near the Chinese Embassy to protest China’s claim to the islands. Some also called for the release of Liu Xiaobo, the Nobel Peace Prize-winning Chinese dissident who is serving an 11-year prison sentence for subversion.

Ma said China had contacted Japanese officials to “express serious concern” over the Tokyo protest, according to a separate statement.

At the time, tensions were high over a collision between a Chinese fishing boat and two Japanese coast guard ships near the islands in the East China Sea. China repeatedly demanded the return of the detained fishing boat captain. Japan eventually released the captain, but Beijing shocked Tokyo by demanding an apology.

Earlier this month, the tensions seemed to calm after the prime ministers of the two countries held an impromptu after-dinner meeting in the corridor of an Asia-Europe summit.

Police in the Chinese cities of Chengdu, Xian and Zhengzhou would not confirm Saturday’s protests, saying they would not talk to the media.

Source: SGGP

VN-Index maintains upwards momentum as blue-chips rally

In Uncategorized on June 29, 2010 at 8:48 am

Movement of VN-Index on June 29. (Photo: VN-Index, a measure of 242 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, continued to advance on June 29 as buying demand improved.

The country’s benchmark finished at 510.71 points, gaining 3.43 points, or 0.68 percent. Around 46.6 million shares, worth VND1.26 trillion, changed hands on the city bourse.

112 stocks rose, 93 dropped, and 41 remained unchanged.

Saigon Securities Inc. (SSI) had the most active shares in volume with 1.64 million shares changing hands, followed by PetroVietNam Transportation Corporation (PVT) with 1.35 million shares.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) remained in third place with 1.18 million shares.

On June 23, Toan Thinh Phat Architecture Investment Construction Joint Stock Company bought 4 million shares of Sacombank (STB), increasing its holdings to 5,644,340 shares, accounting for 0.84 percent of the bank’s chartered capital.

Viet Nam Golf Tourism Joint Stock Company (VNG) was the biggest gainer on southern market, advancing the daily maximum allowed limit of 5 percent to VND16,800.

Saigon Telecommunication & Technologies Corporation (SGT) closed up 4.93 percent to VND23,400.

Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) climbed 4.9 percent to VND38,500.

1,429,609 additional shares of Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) officially traded on the city bourse on June 29. These shares were issued to pay dividends to current shareholders, according to the company’s announcement on April 16.

Meanwhile, telecommunication cable producer Viet – Han Corporation (VHG) declined 4.9 percent to VND33,000.

Other decliners included Ca Mau Trading Joint Stock Company (CMV), DIC Investment and Trading Joint Stock Company (DIC), and Son Ha International Corporation (SHI).

Hanoi’s HNX-Index slightly rose 0.18 points, or 0.11 percent, to close at 161.33. Trading volume increased by 20 percent to 44.39 million shares, worth VND1.25 trillion.

In contrast, the UPCoM-Index dropped 0.35 points to 47.4, as of 11:15 am local time. A total of 257,193 shares traded at VND4.1 billion.

Source: SGGP

Japanese islanders rally against US base plan: media

In Uncategorized on April 18, 2010 at 7:29 pm

TOKYO, April 18, 2010 (AFP) – Thousands of people rallied on a remote Japanese island Sunday, protesting against a possible government move to relocate a major US air base there.

The issue centres around a decision by Prime Minister Yukio Hatoyama to review a 2006 agreement with the United States to allow the Futenma Marine Corps Air Station to be moved from an urban area to a quieter coastal part of Okinawa.

But media have since reported that the government is planning to transfer the base to Tokunoshima, a subtropical island in Kagoshima prefecture, 200 kilometres (125 miles) north of Okinawa.

Hatoyama’s apparent indecision on the issue has become a thorn in Japan-US relations while he battles a slide in his popularity at home.

“Let us spread this protest movement to the end,” Hideki Takaoka, mayor of a town on Tokunoshima, told the rally, according to television footage.

“Down with the US base,” the protesters chanted at the rally on Tokunoshima, which has 27,000 islanders.” The sugar cane industry and dairy farming are major contributors to the island’s economy.

“We prepared 13,000 flyers and all of them were gone,” island official Osamu Minobe told AFP by telephone. Organisers estimated that 15,000 people turned out but police said they did not count the numbers.

“I believe we can change the government’s attitude by sending our message today,” another town mayor, Akira Okubo, told Japanese media.

Premier Hatoyama has told US President Barack Obama he will find a solution by the end of May.

The Okinawa chain, strategically located close to China and the Korean peninsula, hosts more than half of 47,000 US troops based in Japan.

The 1995 rape of a Okinawan school girl by three US servicemen prompted mass protests that led to the relocation plan, coupled with the transfer of 8,000 marines to the US Pacific territory of Guam.

But Hatoyama has yet to present a definite alternative plan while the Obama administration has repeatedly said the 2006 agreement is the best option.

Japanese media have speculated Hatoyama might have to resign if he fails to resolve the row before this self-imposed deadline expires.

Tokunoshima hosted a former Japanese military air base during World War II and was returned to Japanese rule in 1953 after US military occupation.

Source: SGGP

Rival Thai ‘Yellows’ discuss moves as ‘Reds’ rally on

In Uncategorized on April 18, 2010 at 7:29 pm

BANGKOK, April 18, 2010 (AFP) – Thailand’s pro-establishment “Yellow Shirt” movement gathered in their thousands on Sunday to discuss their response to month-long anti-government protests that left 23 dead in clashes last weekend.

The country is split between “Red Shirts”, who largely support ex-premier Thaksin Shinawatra, and their yellow-clad rivals who hit the streets ahead of a 2006 coup that ousted Thaksin and again to see off his allies in 2008.

Red Shirt anti-government protesters rest during an on going rally in the main shopping district in Bangkok on April 18, 2010. AFP photo

The yellow protest group, backed by the country’s elite, has kept a low profile since the Reds’ mass rallies began in mid-March but began a meeting early Sunday to discuss the kingdom’s troubles.

“We are having a meeting today because we know that now the country is in crisis,” said Parnthep Pourpongpan, a spokesman for the group formally known as the People’s Alliance for Democracy (PAD).

“We have the PAD representatives from different provinces coming to analyse the situation and lay out the structure for long-term solutions. There are 3,000 to 5,000 people joining the meeting today,” he said.

The Yellows’ protests in 2008 culminated with a damaging blockade of the capital’s main airports that stranded thousands of travellers.

As they met at a Bangkok university Sunday, the Reds were also meeting to discuss their next move, eights days on from deadly clashes with security forces that left 23 people dead and more than 800 injured.

The Reds, who are demanding snap elections, have since abandoned their rally spot close to where the violence took place to instead reinforce numbers in a Bangkok district which is home to luxury hotels and shopping malls.

Leaders of the Reds have said they would hand themselves in to police next month as they brace themselves for a new army push to disperse them from the key district.

They have so far ignored repeated calls by authorities to disperse from the commercial heartland, despite arrest warrants outstanding against core leaders.

“On May 15, 24 of us will surrender. All of the leaders,” said one of the top Reds, Nattawut Saikuar, on Saturday. “For now the 24 of us will keep rallying to show sincerely that we won’t run away,” he said.

“I’m sure the order to suppress us will come out soon.”

He said the plan was designed to avoid another attempt by security forces to forcibly arrest them, but added they would seek bail.

The mostly poor Reds accuse the government of elitism and being illegitimate as it came to power after a parliamentary vote that followed a controversial court verdict ousting Thaksin’s allies.

The military has said it will make a renewed attempt to disperse the protesters but has given no further details of its plans.

Late Friday embattled Prime Minister Abhisit Vejjajiva handed broader powers to his army chief Anupong Paojinda, after a bungled operation to arrest some protest leaders at a hotel in Bangkok’s northern outskirts.

Earlier Friday commandos stormed a hotel where several Red Shirt leaders were hiding, but the mission ended in dramatic failure after the suspects fled, with one climbing down an electric cable from a third floor balcony.

The setback to the authorities came almost a week after the army tried in vain to clear an area of the capital of anti-government demonstrators, triggering the country’s deadliest civil unrest in 18 years.

The government has asked the police’s special investigation unit to probe the bloodshed, blaming “terrorists” for inciting violence and accusing Thaksin, who lives abroad to avoid a jail term for graft, of stoking the unrest.

Source: SGGP

VN-Index extends wining run amid global rally

In Vietnam Stock Market on September 17, 2009 at 1:30 pm

The Ho Chi Minh Stock Exchange remained positive on Thursday following healthy performances of global share markets.

VN-Index, the gauge of 174 stocks on Vietnam’s major exchange, moved up on soon after the opening bell, before slumping in the second session due to heavy selling from investors’ profit taking.

However, the index eventually rebounded to close higher 4.21 points, 0.76 percent, at 561.19 as investors returned to a buying mood, believing the market is really in a bullish trend. Of the index members, 69 stocks advanced and 75 dropped.

The market’s liquidity continued to improve as trading volume increased nine percent from the previous day, with 73.3 million shares worth VND3.64 trillion changing hands.

“Investors confidence on the HCMC exchange today was boosted by stock markets’ rallies around the world,” said a broker.

The US’s stocks rose for a third day on Wednesday, hitting fresh 2009 highs in a broad-based rally following economic data that suggested a stronger-than-anticipated global recovery, according to Reuters.

The Dow Jones industrial average was up 108.30 points, 1.12 percent, at 9,791.71. Standard & Poor’s 500 Index was up 16.13 points, 1.53 percent, at 1,068.76. The Nasdaq Composite Index was up 30.51 points, 1.45 percent, at 2,133.15.

Asian stocks also hit their highest level in 13 months on Thursday, with Japan’s Nikkei 225 Stock Average rising one percent, S&P/ASX 200 Index gaining 1.5 percent and Hong Kong’s Hang Seng Index climbing 1.8 percent.

The MSCI Asia Pacific Index gained 0.8 percent to 118.55 points as of 2 pm (Tokyo time), the highest since September 9, 2008. The gauge climbed 68 percent from a more than five-year low on March 9 as stimulus measures around the world pulled economies out of recession. Stocks on the gauge are priced at an average 1.6 times book value, up from 1.03 times at the March low.

Saigon Thuong Tin Commercial Joint-Stock Bank (STB), known as Sacombank, remained the most active stock by volume, with a record trading volume of 15.8 million shares being traded. The HCMC-based lender rose 3.48 percent to close at VND32,700. 

At the smaller bourse in Hanoi, the HNX-Index swung between negative and positive territories before closing lower 0.19 points, 0.11 percent, to finish at 174.68.

The UPCoM-Index of the unlisted stock rose slightly 1.03 points, 1.62 percent, to close at 64.67 as of 11 am.

Source: SGGP

Thailand approves tough laws for Thaksin coup rally

In World on September 15, 2009 at 5:14 pm

BANGKOK, Sept 15, 2009 (AFP) – Thailand’s cabinet agreed Tuesday to invoke harsh security laws allowing the deployment of troops for protests this weekend on the third anniversary of a coup against former premier Thaksin Shinawatra.

Thai soldiers patrol a check security at Government House in Bangkok on September 15, 2009 (AFP photo)

The move raises tensions ahead of the planned mass rally on Saturday in Bangkok by the “Red Shirt” movement, which wants current Prime Minister Abhisit Vejjajiva to quit and call fresh elections.

Government spokesman Panitan Wattanayagorn said the Internal Security Act would be in force from Friday until Tuesday in the centre of the capital “as the demonstration is likely to turn into political chaos.”

“This law will both ensure the safety of protesters and allow us to control the situation. Police will be the core force with the military acting as assistants, but the number of forces depends on the situation,” he said.

The act will effectively ban protests in Bangkok’s historic Dusit district, which is home to several potential flashpoint locations including Parliament and Government House, where the cabinet offices are located.

The protest comes a day before Abhisit is due to leave for the United States for the UN General Assembly and the G20 summit. Thaksin was toppled by the military in 2006 while he was away at the UN.

The Red Shirts have twice called off previous rallies in recent weeks after the government invoked the act, but they vowed to go ahead with this weekend’s demonstration.

“Unarmed and peaceful protest is guaranteed under the constitution. The government has no need to be afraid of this demonstration,” Jatuporn Prompan, one of the movement’s senior leaders, told AFP.

In April similar Red Shirt protests spiralled into riots which forced the cancellation of a major Asian summit and led to mass unrest in Bangkok, leaving two people dead and 123 injured.

The Red Shirts backed down on that occasion after troops threatened to use force, but they have recently reignited their campaign by lodging a petition with the king last week for a royal pardon for Thaksin.

Thaksin fled the country a year ago to escape a two-year jail term for corruption, but the divide between his supporters and his foes continues to cause turmoil in the kingdom.

Source: SGGP