The market made a positive increase thanks to the breakthrough of banking stocks with CTG and BID both jumping by nearly 6 percent, ACB gaining 2.6 percent, TCB advancing by nearly 2 percent, HDB surging by nearly 3.2 percent, and MBB climbing by nearly 3 percent. In addition, foreign investors net bought VND43.5 billion in the whole market, of which, purchasing power mainly focused on banking stocks, such as HDB with VND32.58 billion and BID with VND23.6 billion, keeping the market firmly in green. Vietnam’s benchmark, VN-Index, rose 6.75 points, or 0.7 percent, to close at 974.31 points with 154 winners, 174 losers while 63 stocks were unchanged. In Hanoi, the HNX-Index also soared 1.13 points, or 1.1 percent, to close at 103.32 points with 54 stocks advancing, 57 declining and 58 standing still. Market liquidity improved compared to the previous trading session with total trading volume on both trading floors reaching 226 million shares, worth more than VND5 trillion. In … [Read more...] about VN-Index climbs for three straight days, backed by banking shares
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Hanoi (VNA) – Laos and China have agreed to facilitate the direct exchange of the Lao kip (LAK) and the Chinese yuan (CNY) instead of having to making conversions through other currencies previously. Vientiane Times said on January 13 that the Agreement on Bilateral Local Currency Cooperation between the Bank of the Lao PDR and the People’s Bank of China (PBOC) was inked on January 6 in Beijing, China, during Lao Prime Minister Thongloun Sisoulith’s official visit to the country from January 5-9. Under the deal, residents of Laos and China are allowed to use both LAK and CNY in trade and investment under both countries’ provisions of legislations. The banks encourage commercial banks in the two nations to enhance cooperation and facilitate the exchange of LAK and CNY. The PBOC said the agreement will help boost financial cooperation as well as promote trade and investment between the two countries. Meanwhile, a senior official from the Bank of the Lao PDR … [Read more...] about Laos, China sign currency settlement agreement
Commenting on the fact that the interest rate reduction will support economic growth in the coming time, he said it is necessary to have a roadmap because when credit institutions borrow from the SBV in the form of refinancing or overnight interbank loans, only in certain cases such as having preferential credit packages provided by the SBV, they will receive refinancing loans from the SBV with slightly lower interest rates and of course, the loan amount will not be too much. … [Read more...] about Cutting central bank’s interest rate to stabilise lending rates
According to statistics released by the General Department of Vietnam Customs, the country’s total import and export value last year underwent a surge of 7.6 per cent to US$517.26 billion in comparison to the figures from 2018. Of the total, the value of export commodities stood at an estimated US$264.19 billion, an increase of 8.4 per cent, while imports came to US$253.07 billion, up 6.8 per cent from 2018. … [Read more...] about Trade between Vietnam and China reaches new landmarks
Chinese Vice Premier Liu He (left) and US President Donald Trump display the signed trade agreement between the US and China in the East Room of the White House in Washington, DC. (SAUL LOEB/AFP) "Today, we take a momentous step, one that's never taken before with China," that will ensure "fair and reciprocal trade," Trump said at the White House before signing the document. … [Read more...] about What’s in the new US-China ‘phase one’ trade deal?