Countertrend meaning in stock market

Almaz conference centre in Vinhomes Riverside, Ha Noi. Vinhomes (VHM) topped the list of stocks pulling the VN-Index most on Friday. — VNS Photo Mai Huong The VN-Index closed at a one-month high in the first quarter’s last trading session, supported by strong buys of both domestic and foreign traders. On the Ho Chi Minh Stock Exchange, the VN-Index ended up 0.49 per cent at 1,064.64 points, extending its rally streak to nine consecutive sessions. Meanwhile, the HNX-Index on the Ha Noi Stock Exchange increased for a second day, up 0.75 per cent to close at 207.5 points. It inched up 0.2 per cent on Thursday. Liquidity in the afternoon session grew by 57 per cent compared to the morning, totaling 723.5 million shares worth VND13 trillion (US$552 million), the highest in more than a month. According to analysts, a long gaining streak showed investors’ expectations near the closing time of the net asset value of funds, pushing up many stocks. On average, this week saw the best … [Read more...] about VN-Index inks March’s last session in blue with ninth straight gaining session

NEW YORK/LONDON -- Global mergers and acquisitions (M&A) activity shrank to its lowest level in more than a decade in the first quarter of 2023, as rising interest rates, high inflation and fears of a recession soured the appetite of companies for dealmaking. M&A volumes during the first quarter slumped 48% to $575.1 billion as of March 30, compared to $1.1 trillion during the same period last year, according to data from Dealogic. A banking crisis that started in the United States this month with Silicon Valley Bank and spread to Europe with the Swiss government-orchestrated sale of Credit Suisse Group AG (CSGN.S) to UBS Group AG (UBSG.S) roiled markets and stopped many deals in their tracks, investment bankers and lawyers said. "The first quarter had extraordinary levels of volatility and uncertainty - more than expected going into the year. And that has the impact of postponing some announcements," said Anu Aiyengar, global head of M&A at JPMorgan Chase & … [Read more...] about Global dealmaking sinks to lowest level in over a decade

Vietnam now sees a sharp increase in rice orders from the Philippines and China. Acccording to Pham Thai Binh, General Director of Trung An Hi-tech Agriculture Joint Stock Company in the Mekong Delta city of Can Tho, the company has signed an order to export 2,000 tonnes of rice to China and is under negotiation for another batch of 20,000 tons. Statistics from the General Administration of Vietnam Customs show that in the first two months of this year, China imported 152,640 tons of rice from Vietnam worth 90 million USD, a year-on-year increase of 86% in volume and 120% in value. Vietnamese rice exported to China enjoyed an average price of 589.7 USD per ton, 18.3% higher than that of the same period last year. Chinese customers mainly imported Vietnam’s high-quality rice like fragrant rice and sticky rice with high prices. Meanwhile, the Philippines is anticipated to import about 2.8 million tons of rice from Vietnam during the 2022-2023 crop because the country’s rice … [Read more...] about Vietnam expected to export 7 million tons of rice this year: Ministry

An HDBank transaction office in HCM City. HDBank hopes to maintain its high growth momentum in the coming years. — Photo courtesy of HDBank The Ho Chi Minh City Development Joint Stock Commercial Bank has announced its 2022 results audited by PwC, which shows profit before tax of nearly VND10.27 trillion (US$437.18 million), its highest ever and up 27.2 per cent from the previous year and 105 per cent of the target approved by shareholders. The non-performing loans (NPL) ratio was low, while operational safety indicators were among the best in the industry. The operating income for the year topped VND22 trillion ($936.39 million), up 31.1 per cent. Its credit, services, card, and digital banking businesses all saw high growth. The total number of credit cards it issued quadrupled while their transaction value nearly tripled, and the number of e-banking transactions doubled with their value growing by six times to VND761 trillion ($$32.39 million). The return on equity and … [Read more...] about HDBank outstanding loans to property sector, corporate bond holdings among industry lowest

Minister of Industry and Trade Nguyen Hong Dien and the Vietnamese delegation at the meeting. (Photo: MoIT) Hanoi (VNA) – Representatives from member nations of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the UK approved a joint statement at the ministerial level on the substantial conclusion of negotiations on the UK's accession to the CPTPP at their virtual meeting on March 31 (Vietnam time). The meeting was chaired by Japanese Minister of Economy, Trade and Industry (METI) Shigeyuki Goto, who is also chairman of the UK’s Accession Working Group (AWG), and drew the attendance of ministers and representatives of the CPTPP members - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam - and the UK. The participants confirmed that the UK has provided commercially meaningful market access offers of the highest standard on goods, services, investment, financial services, government … [Read more...] about Joint statement on conclusion of negotiations on UK’s CPTPP accession issued

Participants at the talks (Photo: VNA) Lang Son (VNA) – Secretary of the Party Committee of Lang Son province Nguyen Quoc Doan held talks with Liu Ning, Secretary of the Party Committee of China's Guangxi Zhuang Autonomous Region, in Lang Son city on March 30, during which they discussed measures to further expand border trade cooperation. The two sides positively evaluated the close high-level relationship between the two Parties and States, as well as between Lang Son and Guangxi, which has been increasingly strengthened and nurtured. They also discussed measures to promote the potential and strengths, and step up cross-border trade. Liu said he hopes the two countries will continue to strengthen strategic development and connection and deepen practical cooperation in various fields, thus strongly promoting the partnership and comprehensive strategic cooperation in the new era. The Chinese official said Guangxi is currently implementing measures to promote the … [Read more...] about Vietnamese, Chinese localities eye stronger border trade

The meeting was chaired by Japanese Minister of Economy, Trade and Industry (METI) Shigeyuki Goto, who is also Chairman of the U.K.’s Accession Working Group (AWG), and drew the attendance of ministers and representatives of the CPTPP members - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam - and the U.K. The participants confirmed that the U.K. has provided commercially meaningful market access offers of the highest standard on goods, services, investment, financial services, government procurement, state-owned enterprises, and temporary entry for business persons. They agreed on the means by which the U.K. will comply with the existing rules contained in the CPTPP. The countries pledged to work together to prepare and verify the legal instrument of the accession. They hailed Vietnam’s successful hosting of the negotiations for the accession in late February and early March, which contributed to the substantial conclusion of … [Read more...] about Joint statement on conclusion of negotiations on U.K.’s CPTPP accession issued

As of March 25, the municipal administration had imposed fines totaling VND50.5 billion ($2.15 million) for infractions on the pavement. Hanoi's authorities will make public the guidelines on the streets and roads where drivers can park their cars, Vice Chairman of the municipal People's Committee Duong Duc Tuan has said. A local police officer travels to check on the station of motorbikes on the streets of Hanoi. Photo: Cong Trinh/The Hanoi Times There will be a new list of streets and roads on which the city forbids the parking of motorbikes and cars, Tuan told an online meeting of the Hanoi Party Committee, the Hanoi People’s Council, the Hanoi People’s Committee, and chiefs of the 30 districts and towns. The city's legislators will also modify the regulations governing vehicle parking, instructing local governments to reserve a specific portion of the pavement for parking motorcycles and bicycles only, he said. The vice chairman added that substantial … [Read more...] about Hanoi plans new rules on parking