Investor nervousness rises as yield curve flattens

A worker operating a production line inside a Duc Giang Chemical plant in Hung Yen Province. In 2022, Duc Giang Chemical Group Joint Stock Company (DGC) sets a target of VND12.1 trillion in revenue and VND3.5 trillion in profit after tax. — Photo ducgiangchem.vn Thanks to their good growth potential and attractive valuation, chemical stocks are being included in the portfolios of investors. The stock market last week recorded four out of five declining sessions, of which the first session of the week recorded the strongest decline with the VN-Index losing more than 57 points. Some investors see this as an opportunity to hunt for cheap stocks. Pham Dinh Cong from Ha Noi told tinnhanhchungkhoan.vn that he had taken the opportunity to buy some stocks in the past week, prioritising the enterprises with good financial status and growth potential, such as the chemical group. According to ACB Securities Company (ACBS), in May 2022, the industrial production index of the chemical … [Read more...] about Chemical firms see growth potential thanks to rising selling prices

The jack-up rig PV Drilling VI. PV Drilling climbed up to 7 per cent yesterday, supporting the market's bullish trend.- Photo pvdrilling.com.vn On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index settled higher, ending its four-day losing streak. The index surged 19.61 points, or 1.68 per cent, to 1,188.88 points. The market's breadth returned to a positive zone with 318 stocks gaining points, of which 50 stocks hit the biggest daily increase of 7 per cent, while 153 stocks declined. However, liquidity remained at a low level, of which the matching value on the southern bourse was just VND8.86 trillion (US$381 million), equal to a matching volume of 380 million shares. The index's reversal was driven by the improvement of risk appetite. The VN30-Index rose 13.41 points, or 1.09 per cent, to 1,240.58 points. Twenty of the 30 biggest stocks in the VN30 basket inched higher on Thursday, of which two stocks registered the maximum intraday gain of 7 per … [Read more...] about VN-Index rises sharply on back of high risk demand

Danang is now ripe for 5-star hospitality success The 16th edition of the Asian Route Development Forum (Routes Asia 2022) was held in Danang on June 6 for the first time. Routes Asia brings together policymakers from the world’s leading airlines, airports, destinations and aviation suppliers, and this time around the event wants to realise action plans and accelerate Asia-Pacific economic recovery. “We see this as a significant opportunity to exchange information and seek partnership, as well as to invest in the development of aviation, tourism, and logistics,” Chairman of Danang People’s Committee Le Trung Chinh stated at the event. “This is also an opportunity for the city to showcase our natural beauty, people, and socioeconomic achievements and the tourist industry in particular, to investors and visitors from across the world.” According to research by Savills World Research last year, the coastal city is one of the leading destinations for major international brands in … [Read more...] about Second-home market blossoms in Danang

About 2.47 quadrillion VND was raised for the State budget in the primary G-bond market over the last 12 years. (Photo: VNA) Hanoi (VNA) – The Government bond market of Vietnam officially became operational at the Hanoi Stock Exchange (HNX) on September 24, 2009. Since then, about 2.47 quadrillion VND (108.5 billion USD) has been raised for the State budget from the primary market to support socio-economic development in the country. More than 206 trillion VND worth of G-bonds has been raised for the State budget annually, accounting for almost 10 percent of total investment in society in 2020 and 28.3 percent of that by the State sector last year. Bond issuance volume up, interest rates down The HNX said that in order to mobilise the above mentioned sum of money, it has organised more than 2,600 auctions, with 60 - 70 percent of the bonds offered successfully sold on average. Notably, interest rates in the G-bond market have declined considerably over the past 12 … [Read more...] about Over 108.5 billion USD raised from primary G-bond market in 12 years

Inadequacies in salary are causing a shift of workers among foreign-invested enterprises. Taiwanese-backed Foxconn, the world’s largest iPhone contract manufacturer, is complaining about a battle to attract more affordable labour with its Chinese rivals in Vietnam. Young Liu, CEO and chairman of Foxconn, this month accused the company’s Chinese competitors of setting up campuses near its base in Vietnam to get closer to its workers. Foxconn’s campus, located in the northern province of Bac Ninh, currently employs around 60,000 workers, and the company has plans to increase that number over the next two years. Once the battle for workers becomes more serious, the company may face the risk of employee shortages. While the Foxconn CEO would not disclose the names of the competitors involved, the current crop of 31 companies – employing around 160,000 workers – that produce Apple products in Vietnam include major names such as Luxshare ICT, Pegatron Vietnam, and BYD Electronics … [Read more...] about Foreign groups battle to retain their workers

The event gathered representatives from the Ministry of Agriculture and Rural Development, the Mekong Delta Rice Research Institute, enterprises operating in processing and rice exports, and market experts and researchers. During the event, participants discussed and analysed bottlenecks, and proposed solutions to remove difficulties facing Vietnam's rice industry in its path towards sustainable development. Vietnam is known as a powerhouse in rice exports with an annual average export output of about 6.3 million tonnes, accounting for about 15 percent of total global rice exports. Vietnamese rice has been shipped to over 150 countries and territories worldwide. However, the country still meets obstacles in exporting rice to high-end markets where food protectionism and inflation are on the rise. Do Ha Nam,  Vice Chairman of the Vietnam Food Association, pointed out logistics difficulties facing rice exporters in the Mekong Delta region. Participants also mentioned solutions … [Read more...] about Seminar seeks to improve quality of Vietnamese rice

Illustrative image (Source: baodautu.vn) Hanoi (VNA) – A workshop themed “Vietnam as your Green business opportunities destination” was held by the Belgian Vietnamese Alliance (BVA) and the Flanders International Technical Agency (FITA) in Brussels on June 22 to introduce Vietnam’s potential in renewable energy and sustainable port development. Addressing the event, Vietnamese Ambassador to Belgium and Luxembourg Nguyen Van Thao said that although the world in general and the two regions of Asia and Europe in particular have seen positive signs of a “new normal” period after two years of being hit by COVID-19, the global economic environment has remained fragile due to various factors, including geopolitical uncertainties, new variants of the SARS-CoV-2 virus, severe disruption of supply chains, pressures from rising inflation, as well as the challenges in sustainable development and the unpredictable impacts of climate change. As a coastal country that suffers regular … [Read more...] about Vietnam, Belgium seek stronger partnership in renewable energy, port development

Customers at Vietcombank (VCB) branch in the Central Highlands province of Kon Tum. The total operating income of 27 listed banks in the first quarter of 2022 increased by 8.2 per cent compared to the previous quarter.-VNA/VNS Photo In the past three months, banking shares witnessed sharp declines and were among the most negatively impacted on the stock market. Most banking stocks decreased by over 30 per cent and there was no single bank seeing positive growth. The decline was attributed to stricter control of credit flows, increasing bad debts mainly caused by real estate businesses, corporate bond inspection at banks and inflationary pressure which have affected investor sentiment. However, after a series of deep declines, many banking stocks are rebounding strongly in recent sessions. This brings hope to many investors in this industry group. In a newly released report, FiinGroup said that the total operating income of 27 listed banks in the first quarter of 2022 … [Read more...] about Banking shares plummet to attractive prices

The meeting between Deputy PMs Le Minh Khai and Men Sam An in Hanoi on June 24 (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Le Minh Khai had a working session with his visiting Cambodia n counterpart Men Sam An in Hanoi on June 24. Khai congratulated the Cambodian Government on the important achievements obtained under PM Hun Sen’s leadership, especially the success in COVID-19 containment and socio-economic reopening and recovery. Men Sam An, who is also Minister of the National Assembly - Senate Relations and Inspection of Cambodia, Vice President of the Cambodian People’s Party, and Chairwoman of the Cambodia - Vietnam Friendship Association, expressed her honour to represent the Cambodian Government to attend and deliver remarks at the ceremony marking the 55th founding anniversary of the countries’ diplomatic ties held in Hanoi earlier the same day. Saying she is impressed with Vietnam’s all-round attainments over the past years, she expressed her belief that … [Read more...] about Deputy PMs agree on measures for strengthening Vietnam – Cambodia links

Khai congratulated the Cambodian Government on the important achievements obtained under PM Hun Sen’s leadership, especially the success in COVID-19 containment and socio-economic reopening and recovery. Men Sam An, who is also Minister of the National Assembly - Senate Relations and Inspection of Cambodia, Vice President of the Cambodian People’s Party, and Chairwoman of the Cambodia - Vietnam Friendship Association, expressed her honor to represent the Cambodian Government to attend and deliver remarks at the ceremony marking the 55th founding anniversary of the countries’ diplomatic ties held in Hanoi earlier the same day. Saying she is impressed with Vietnam’s all-round attainments over the past years, she expressed her belief that under the clear-sighted leadership of the Communist Party of Vietnam, the Vietnamese Government and people will continue reaping more successes in national reforms and development and unceasingly promoting Vietnam’s stature in the international … [Read more...] about Deputy PMs agree on measures for strengthening Vietnam-Cambodia links