A Petrolimex gas station. The listing of large-cap companies such as Petrolimex in 2017 helped increase the total value of the securities market by 80 per cent. — Photo moit.gov.vn Expanding the size of the securities market so that it becomes an alternative source of funding for companies beside bank loans remains a hard task for both market regulators and securities companies. According to National Assembly Deputy Tran Hoang Ngan, the total market capitalisation in the country was VND5.6 quadrillion (US$241.4 billion), but total lending stood at VND7.8 quadrillion. The ratios of the two figures in comparison with Viet Nam’s 2018 GDP are 100 per cent and 130 per cent. According to the National Financial Supervisory Commission, the size of the securities market was 109 per cent compared to the country’s total GDP at the end of 2018. The ratio for bank lending was 134 per cent. The figures showed Viet Nam was among the few economies where the total value of the … [Read more...] about Enlarging the securities market a hard task
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Asian markets down on trade uncertainty, unrest hits Hong Kong
Donald Trump denied China's statement that the economic superpowers had agreed a plan to roll back tariffs as trade talks progress. (Photo: AFP/Mandel Ngan) Expectations Beijing and Washington will agree a mini-pact have fuelled an equity rally for the past few weeks. Hopes had been given an added boost Thursday after China said the two sides had agreed to roll back some tariffs as the negotiations progress. But the US side sent out some confusing signals after that announcement, before US President Donald Trump denied such an agreement, leaving investors scratching their heads. Still, White House trade adviser Peter Navarro provided a lift to sentiment, saying Trump could postpone tariffs on Chinese goods scheduled to take effect in December. The S&P 500 and Dow both ended at fresh all-time highs. "President Trump's speech on Tuesday at the New York Economic Club offers the perfect soapbox for (him) to make a big political splash on both the US-China trade talks and section 232 … [Read more...] about Asian markets down on trade uncertainty, unrest hits Hong Kong
European stock markets start week mostly lower
Logo of the London Stock Exchange. After heavy falls in Asia, Europe headed south with London's benchmark FTSE 100 index shedding 0.4 per cent. Wall Street also retreated from record highs, with the Dow down 0.4 per cent in late morning trading. "Stock markets are largely lower as traders are worried about the US-China trading relationship as well as the violence in Hong Kong," said David Madden, analyst at traders CMC Markets UK. The pound was up around three-quarters of a percentage point versus the dollar, adding further downward pressure to the FTSE 100 that features several multinationals earning in the US unit. Sterling climbed also against the euro, as official data showed Britain had dodged a recession in the third quarter with growth of 0.3 per cent and the ruling Conservatives of Prime Minister Boris Johnson received a major electoral boost. "The pound was given a boost by Nigel Farage's announcement that the Brexit party won't stand in the 317 seats currently occupied by … [Read more...] about European stock markets start week mostly lower
Auto market filled with gloom despite falling prices
A corner of the Vietnam Motor Show 2019 (Photo: VNA) Hanoi (VNA) – Hopes of a big rise in car sales in October thanks to a steep drop in prices and the rollout of new models have been dashed, spreading more gloom about the sector’s health. The Vietnam Automobile Manufacturers’ Association (VAMA) said on November 11 that total car sales in October reached 28,948 units, a slight increase of 4.3 percent compared to September but much lower than the rest of the year. Of the total number, sales of passenger cars inched up 2 percent to 21,355 vehicles, while figures for commercial and special-purpose vehicles leaped 11 percent and 14 percent to 7,228 and 365, respectively. Some 16,406 domestically-assembled cars were sold, falling 3 percent month on month, while sales of imported units climbed 16 percent to 12,542. Toyota continued to lead sales with 7,216 vehicles, followed by Misubishi (3,566 units), Ford (3,114 units), and Honda (3,058 units). A series of … [Read more...] about Auto market filled with gloom despite falling prices
Vietnam’s auto market filled with gloom despite falling prices
Hopes of a big rise in car sales in October thanks to a steep drop in prices and the rollout of new models have been dashed, spreading more gloom about the sector’s health. A corner of the Vietnam Motor Show 2019 The Vietnam Automobile Manufacturers’ Association (VAMA) said on November 11 that total car sales in October reached 28,948 units, a slight increase of 4.3 percent compared to September but much lower than the rest of the year. Of the total number, sales of passenger cars inched up 2 percent to 21,355 vehicles, while figures for commercial and special-purpose vehicles leaped 11 percent and 14 percent to 7,228 and 365, respectively. Some 16,406 domestically-assembled cars were sold, falling 3 percent month on month, while sales of imported units climbed 16 percent to 12,542. Toyota continued to lead sales with 7,216 vehicles, followed by Misubishi (3,566 units), Ford (3,114 units), and Honda (3,058 units). A series of promotions were offered by dealers … [Read more...] about Vietnam’s auto market filled with gloom despite falling prices
