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Stock Market MSN, bank stocks drive market up The Saigon Times Daily Thursday,  Dec 12, 2019,17:56 (GMT+7) MSN, bank stocks drive market upThe Saigon Times Daily Employees of HCMC Securities Corporation watch stock information. Consumer goods firm MSN and large bank stocks contributed to sending the VN-Index rising today, December 12 - PHOTO: THANH HOA HCMC - The strong recovery of consumer goods stock MSN and the sharp rise of large bank stocks helped the VN-Index close near the 970-point level today, December 12. With 202 gainers and 127 losers, the benchmark index on the Hochiminh Stock Exchange added 6.39 points, or 0.66%, at 968.17. Trading volume on the southern bourse inched up by one million shares against the day earlier to 218.74 million shares, but trading value slid 5% at nearly VND4.2 trillion. There were 64.1 million shares worth nearly VND1.4 trillion traded in block deals. MSN soared 5% at VND58,500, … [Read more...] about MSN, bank stocks drive market up

Buoyed by increasing interest in taking up loans for purchases among the Vietnamese population, recent years saw an impressive growth of personal finance companies in Vietnam, with FE Credit, Viet Credit, SHB Finance, and Easy Credit, among others, joining the market. The market is expected to thrive with some newcomers backed by giant Oriented Commercial Joint Stock Bank (OCB) and Asian Commercial Bank (ACB). It is interesting that many of the current businesses are an extension of the retail banking business of some banks. Their business network, IT, and risk control system, as well as strong capital foundations, bear the marks of commercial banks. For example, FE Credit, a consumer lending company of VPBank and one of the largest players in the industry, announced that its revenue made up 30 per cent of VND9.2 trillion ($400 million) of VPBank’s overall pre-tax profit. With its return on assets (ROA) and return on equity (ROE) of 2.5 and 22.9 per cent, respectively, the firm … [Read more...] about More firms competing for shares in Vietnamese consumer lending market

Tran Thap Kieu Quan, CFA Head of Fixed Income, Eastspring Vietnam Eastspring has since built an unparalleled on-the-ground presence in 11 Asian markets as well as distribution offices in North America and Europe. Eastspring Vietnam, formerly known as Prudential Vietnam Fund Management Company, was established in 2005 and re-branded in 2011. Eastspring Vietnam applies a long-term value-oriented investment philosophy to its investment funds and portfolios for both institutional and retail clients who are domiciled both offshore and onshore in Vietnam, with total assets under management currently exceeding around VND100 trillion ($4.34 billion). Promising corporate debt market Vietnam’s domestic bond market has grown substantially since 2012. By 2018, its size had more than doubled, equalling 39 per cent of the country’s GDP. The corporate bond market has also expanded almost five-fold in this time, hitting $6.2 billion by 2018. This expansion has not only been driven by … [Read more...] about Invested in the future of corporate bond market

Trade Tra fish firms struggle to gain local market share By Trung Chanh Thursday,  Dec 12, 2019,16:48 (GMT+7) Tra fish firms struggle to gain local market share By Trung Chanh Employees process tra fish for export at a local business. Tra fish firms struggle to acquire bigger local market share – PHOTO: TRUNG CHANH HCMC - Vietnamese tra fish have been exported to over 150 countries and territories, but its consumption in the local market has yet to rise. The lack of a distribution network and stores is one of the main causes of the limited consumption. Many restaurants and hotels have tried serving a wide selection of tra fish dishes, but diners still hesitate to choose them, Chiem Thanh Long, general director of Binh Quoi Tourism Village, told a conference discussing ways to encourage the domestic consumption of tra fish. The event was co-held by the Business Association of High Quality Vietnamese Goods and … [Read more...] about Tra fish firms struggle to gain local market share

With 60 weekly flights connecting Vietnam’s third largest city with major Thai destinations, the number of Thai arrivals to Da Nang quadrupled year-on-year in the first seven months of this year to almost 107,000. Thais accounted for 6 percent of Da Nang's total foreign arrivals, becoming the third largest group after South Koreans (1 million, making up 57 percent) and Chinese (500,000 or 26 percent), according to the city’s tourism department. Domestic and foreign carriers, betting on this trend, have been racing to launch more flights. Vietnamese budget carrier Vietjet Air last year launched flights from Da Nang to Bangkok. In April Malaysian-owned budget airline Thai AirAsia began a daily service from Chiang Mai to Da Nang. Da Nang is a major economy-tourism hub that attracts many foreign visitors, including Thai tourists, all year round, Santisuk Khlongchaiya, head of Thai AirAsia’s commercial operations, said. From Da Nang, tourists can easily travel to … [Read more...] about Surge of Thai visitors lifts Da Nang hopes for tourism market diversity