VietNamNet Bridge - Despite a lot of unknowns and current bad performance, analysts still believe a 7-12 percent increase of the VN Index can be reached in 2016. The stock market would be full of challenges and unknowns, Tran Thang Long, head of the analysis division of BIDV Securities (BSC), said at a workshop on market prospects on January 19. Long said the challenges would come because the US FED has begun its roadmap of raising the prime interest rate, which means the ‘low-cost capital’ era is over. 2016 is expected to be an eventful year with the election in the US. Meanwhile, the Chinese economic slowdown and the Chinese policy on devaluing the renminbi will also impact the global economy. Despite a lot of unknowns and current bad performance, analysts still believe a 7-12 percent increase of the VN Index can be reached in 2016. BSC has predicted significant adjustments in both the dong/dollar exchange rate and the dong interest rate in 2016, believing that the … [Read more...] about What is the scenario for the VN Index in 2016?
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Realty stocks buoyed by low-cost home scheme Phuong Thao By Phuong Thao - The Saigon Times Daily HCMC – While most stocks were still struggling, real estate and construction material tickers became the biggest gainers on Thursday as the central bank and the Ministry of Construction unveiled a joint plan to make low-cost homes more affordable. Both BCI and TDH, the developers of apartments in the low-end segment, advanced to limit-up prices while BMP, the producer of plastic construction pipes, also closed at the ceiling price. Nevertheless, the excitement was constrained as the broader market showed little interest in the news. With gainers outnumbering losers by 122 to 80, the VN-Index rose a mere 1.42 points, or 0.3%, against the previous session to close at 474.6 while the HNX-Index inched up 0.62% to 61.81. Trading volume dropped 7% to 47 million shares worth VND726.4 billion on the southern bourse and 21% to 39.9 million shares worth VND313.5 billion on the northern … [Read more...] about Realty stocks buoyed by low-cost home scheme
Vietnam's Prime Minister Nguyen Tan Dung pledged to bring inflation down to a decade low as the nation seeks to boost foreign investment and cope with the aftermath of a credit boom that's hobbled the banking industry. "Inflation in 2012 will be about 7 percent and next year we will have even better control of it, at about 6 percent," Dung, 63, said in an interview in Hanoi on Nov. 28. He said overseas investment will rise "sharply" in the next two years as officials overhaul state enterprises and recapitalize banks. Slower gains in consumer prices would reduce the risk of labor strikes undermining Vietnam's campaign to position itself as an alternative manufacturing base to China. Concern that growth has peaked after a quarter-century of market opening, and that policy makers are struggling to manage a legacy of non- performing loans, contributed to a 21 percent slide in investment pledges from abroad so far this year. "It would help Vietnam's image significantly" to contain … [Read more...] about PM Dung sees Vietnam inflation at decade low, investment rising
Continuing worries about the global financial crisis saw a sell-off in Ho Chi Minh City stocks Thursday, sending them crashing to their lowest level this year. The VN-Index, Vietnam's main stock index, closed 14.48 points, or 3.86 percent, down at 360.43. The index, a gauge of 160 companies and four closed-end funds, had reached its previous lowest of 366 points in June. It has plunged 61 percent this year. … [Read more...] about VN-Index slumps to year low on global woes
Ho Chi Minh City shares gained Tuesday as investors took heart from the central bank's cut in the key interest rate. The VN-Index of 163 leading firms and four closed-end funds reached 361.44 points, recording a gain of 3.67 percent from Monday's closing value. The trading volume continued to rise, with 19.5 million shares changing hands compared with Monday's 17.8 million. The trading day saw 147 stocks advance and just 12 decline. Ngo Tuan, deputy director of the Hanoi-based Kim Long Securities Corp., said sentiment is upbeat following the State Bank of Vietnam's decision to reduce, among others, the benchmark interest rate by 1 percent to 12 percent per year. … [Read more...] about VN-Index rises as central bank cuts rates