Sugar cane harvesting at a farm of Lam Sơn Sugar JSC. (Photo: lasuco.vn) Hanoi (VNA) - Sugar stocks all posted a weekly gain last week after India is expected to ban sugar exports in the next season starting in October. The move is the first in seven years due to a lack of rain, cutting cane yields. Reuters citing a government source stated that New Delhi's primary focus is to fulfil local sugar requirements and produce ethanol from surplus sugarcane. However, due to unfavourable weather conditions, the country will not have enough sugar for export in the upcoming season. India allowed mills to export only 6.1 million tonnes of sugar during the current season to September 30, after shipping a record 11.1 million tonnes last season. In 2016, India imposed a 20% tax on sugar exports to curb overseas sales. After the news was reported, investors’ interest shifted to sugar stocks, with all shares traded on three stock exchanges soaring on August 24, of which three … [Read more...] about Sugar stocks gain from India’s export curbs
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More room for IT stocks to grow further
Logo of FPT Corporation in front of its building in Hà Nội. — Photo vietnamplus.vn Despite mixed results in the first half of the year, investors still see appealing prospects for technology stocks in the long term. In the first half of the year, the revenue of digital technology enterprises was more than VNĐ1.44 quadrillion (US$59.6 billion), down 10.35 per cent year-on-year and reached 38.87 per cent of the 2023 plan, according to a report by the Ministry of Information and Communications. Export turnover of hardware and electronics is estimated at $51.51 billion, a decline of 9.56 per cent on-year and equal to 37.88 per cent of the yearly plan. The fall in revenue is due to the economic recession in many countries leading to a decrease in the information technology (IT) consumer market and low growth prospects. This directly impacts the demand for IT services. The software export segment, on the other hand, still maintained good growth thanks to strong investment trends … [Read more...] about More room for IT stocks to grow further