Current stock market prices

US stocks rally again as China premier warns on Covid-hit economy, illustration photo source: freepik.com After a positive session in Europe, the S&P 500 finished Thursday's session up two percent, positioning the broad-based US index to potentially snap a seven-week losing streak depending on Friday's session. "The market was very oversold, and way overdue to bounce," Adam Sarhan of 50 Park Investment said shortly before the market closed. "And what's happening now, the market is bouncing pretty strong." Stock markets have taken a beating this year as central banks have begun to raise interest rates in order to curb the highest consumer price rises in decades. But US stocks pushed higher on Wednesday after investors took a positive view of the Federal Reserve minutes, which raised hopes that while the central bank would move aggressively to lift interest rates, it might be able to halt additional rate hikes as soon as this summer if inflation recedes. Wall Street kept … [Read more...] about US stocks rally again as China premier warns on Covid-hit economy

The National Assembly will this week discuss how to provide more jobs for Vietnam’s citizens, Photo: Le Toan Over the past seven months, Nguyen Duc Minh has been in a lurch to feed his 4-member family, with his wife having had to stop working since late last year for a garment company in Hanoi. Before that time, Minh had been working for a Japanese company based in the capital’s Thang Long Industrial Park for four years. However, the company, producing electronics and plastics equipment, has made a staff cutback of 150 employees including Minh, whose monthly income was about VND7 million ($300). “The company had to reduce production caused by a decrease in export orders from Japan, South Korea, and some European markets,” Minh said. “I hope to be employed again by the company as I learned that the company is going to recover.” In Dong Anh district’s Kim Chung commune, home to Minh’s family, thousands of unemployed people are commonly seen now. They used to work in Thang Long … [Read more...] about All policies on table to ignite enterprises

Garment production for export at Kim Dung Textile and Garment Company in District 12, Ho Chi Minh City. (Photo: SGGP) Dependence on imported raw materials Ms. Nguyen Thi Tuyet Mai, Deputy General Secretary of the Vietnam Textile and Apparel Association, said that the total number of enterprises participating in the textile and garment sector in Vietnam, including foreign and domestic enterprises, is more than 7,000. Of which, only 18 percent of them produce fabric materials, 12 percent produce yarn, 2 percent produce other materials, and the rest are garment enterprises. This fact has put the textile industry in front of the challenge of unstable growth due to its dependence on imported raw materials. Currently, each year, Vietnam imports 100 percent of cotton with an estimated value of US$3.2 billion and 60 percent of fabric with an estimated value of $14 billion. The US is the largest cotton and fabric import market of Vietnam, followed by China, Japan, South Korea, and … [Read more...] about Vietnamese textile-garment industry strong but not stable