VN shares track Wall St decline (03-10-2009) HA NOI — Continuing heavy sales sent the VN-Index down for a third consecutive day, as trading on the HCM City Stock Exchange once again tracked the downturn on Wall Street. "The decline of the US market overnight only added to the pressures from the current cycle of profit-taking," said independent analyst Nguyen Tien Dung. Major securities firms and institutional investors were pulling capital out of stocks since recent gains had failed to meet their targets of doubling their investments, said Dung. "Once the market began signalling a downturn, securities companies began urging major investors to liquidate shares as quickly as possible, increasing profit-taking pressures," he said, noting significant sales of blue chip shares over the past few days. The VN-Index ended the day yesterday down 3.38 per cent to 549.73. Daily volume on the HCM City market surpassed 71 million shares, worth a combined VND3.8 trillion (US$213.5 million), … [Read more...] about VN shares track Wall St decline
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Is VN safe from crisis on Wall St? (19-09-2008) by Le Thanh HA NOI — The US financial sector is deteriorating swiftly. There have been a number of major casualties: Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, and American International Group (AIG). Earlier, the question was, how can we save these financial institutions? The question today is, who's next? Will Viet Nam be affected? The US, a super economy, accounts for a quarter of the world's gross domestic product and 15 per cent of the world's combined import value, so its impacts are felt everywhere in trade, investment and finance. The US is Viet Nam's largest export market, representing nearly 20 per cent of the country's export value. The US has been Viet Nam's largest investor for many years - including investments through third-party countries. So the US economic crisis directly and indirectly impacts on the global economy in general and Viet Nam in particular. Foreign direct investment in Viet Nam is large … [Read more...] about Is VN safe from crisis on Wall St?
A judge upheld New York City's right to evict Occupy Wall Street protesters from a park on Tuesday after baton-wielding police in riot gear broke up a two-month-old demonstration against economic inequality. Bill Talen, known as Reverend Billy (C), delivers a speech to members of the Occupy Wall Street movement as they return to Zuccotti Park in New York November 15, 2011. … [Read more...] about Judge upholds eviction of Wall St. protesters
Ho Chi Minh City shares Wednesday clawed back some of Tuesday's steep losses to close above 300 points after a drastic cut in US interest rates sparked gains on Wall Street overnight. The VN-Index opened in the red, falling 1.38 points to close at 295.04. But things looked up in the next two sessions and it finished the day at 301.02, up 4.6 points or 1.55 percent from Tuesday's close. Lai Minh Tam, a broker at HCMC-based VinaGlobal Securities Corporation, said Wall Street's overnight rally and gains across Asian markets inspired investors. The Fed on Tuesday reduced the target fed-funds rate from one percent to a range of zero to 0.25 percent, the lowest since it began publishing the target in 1990 and said rates would be kept "exceptionally low" for now. The Fed's decision, aimed at reviving the world's biggest economy, sent US shares surging, with the Dow Jones Industrial Average jumping 4.2 percent and the Nasdaq adding 5.4 percent. In Asia, Japanese share prices ended up at … [Read more...] about HCMC market rebounds as US rate cut buoys Wall St