Over leveraged stock market

Almaz conference centre in Vinhomes Riverside, Ha Noi. Vinhomes (VHM) topped the list of stocks pulling the VN-Index most on Friday. — VNS Photo Mai Huong The VN-Index closed at a one-month high in the first quarter’s last trading session, supported by strong buys of both domestic and foreign traders. On the Ho Chi Minh Stock Exchange, the VN-Index ended up 0.49 per cent at 1,064.64 points, extending its rally streak to nine consecutive sessions. Meanwhile, the HNX-Index on the Ha Noi Stock Exchange increased for a second day, up 0.75 per cent to close at 207.5 points. It inched up 0.2 per cent on Thursday. Liquidity in the afternoon session grew by 57 per cent compared to the morning, totaling 723.5 million shares worth VND13 trillion (US$552 million), the highest in more than a month. According to analysts, a long gaining streak showed investors’ expectations near the closing time of the net asset value of funds, pushing up many stocks. On average, this week saw the best … [Read more...] about VN-Index inks March’s last session in blue with ninth straight gaining session

The plan's implementation seeks to capitalize on Hanoi's import-export advantages and promote the city's socioeconomic development toward green growth and rapid and sustainable progress. Hanoi aims to sustain an annual export growth rate of 4.4-5% between 2023 and 2025 and 5.1-5.5% between 2023 and 2030. Electronics production at Channel Well Technology Vietnam at Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times The goals were included in the action plan to achieve Hanoi's import-export strategy until 2030, which was signed off on March 30 by Vice Chairman of the municipal People's Committee Nguyen Manh Quyen. The implementation of this plan seeks to leverage Hanoi's import-export advantages and support its socioeconomic development toward green growth, rapid and sustainable progress, and a stable growth rate in import-export activities. The emphasis is on the direct export promotion of key and advantageous city goods and attracting … [Read more...] about Hanoi targets annual export growth of 5.5% until 2030

Speaking at the event, Stefan Oelrich, member of the Board of Management at Bayer AG and president of Bayer’s Pharmaceuticals Division said, “The transformation of our pharma business is progressing well. With bold investments in industry-leading technology platforms, we have bolstered our research and development (R&D) capabilities and strengthened our early development pipeline. Our strategy aims to deliver new medicines to patients quickly and drive sustainable growth." Bayer used the occasion to showcase how its investments in strategic technology platforms have accelerated its medical and digital innovations and will advance the company’s leadership ambitions in cardiology, oncology, and radiology. In addition, Bayer provided insights into its innovation strategy, comprising enhanced R&D capabilities in key areas. Taking the lead in oncology The company has doubled its portfolio of oncology treatments over the past five years, with nearly one third of … [Read more...] about Bayer accelerates innovation in Pharmaceuticals

NEW YORK/LONDON -- Global mergers and acquisitions (M&A) activity shrank to its lowest level in more than a decade in the first quarter of 2023, as rising interest rates, high inflation and fears of a recession soured the appetite of companies for dealmaking. M&A volumes during the first quarter slumped 48% to $575.1 billion as of March 30, compared to $1.1 trillion during the same period last year, according to data from Dealogic. A banking crisis that started in the United States this month with Silicon Valley Bank and spread to Europe with the Swiss government-orchestrated sale of Credit Suisse Group AG (CSGN.S) to UBS Group AG (UBSG.S) roiled markets and stopped many deals in their tracks, investment bankers and lawyers said. "The first quarter had extraordinary levels of volatility and uncertainty - more than expected going into the year. And that has the impact of postponing some announcements," said Anu Aiyengar, global head of M&A at JPMorgan Chase & … [Read more...] about Global dealmaking sinks to lowest level in over a decade

Nguyen Minh Thoai, CEO of DIGI-TEXX Nguyen Minh Thoai, CEO of DIGI-TEXX, last weekend shared his insight at Finovate : Product Day 2 - a Jobhoppin’s event themed “Digitalisation and Automation strategy for operations in financial services” in Ho Chi Minh City. “Finovate: Product Day 2” event shredded lights on how organisations of all industries navigated through uncertainties amidst this period of of hyper-turbulence and change. Businesses that highlight and successfully optimise automation process at the centre of their transformations will have a competitive advantage through complexity. While there's little doubt that automation can yield significant benefits for all kinds of sectors, such as financial services, healthcare services, e-commerce, and real estate, to name a few. Robotic Process Automation (RPA) could relieve humans from repetitive hazardous and unpleasant tasks. “Organisations across the globe are increasingly relying on RPA to carry out routine, … [Read more...] about DIGI-TEXX sets the standards in digital and business process outsourcing services

Vietnam now sees a sharp increase in rice orders from the Philippines and China. Acccording to Pham Thai Binh, General Director of Trung An Hi-tech Agriculture Joint Stock Company in the Mekong Delta city of Can Tho, the company has signed an order to export 2,000 tonnes of rice to China and is under negotiation for another batch of 20,000 tons. Statistics from the General Administration of Vietnam Customs show that in the first two months of this year, China imported 152,640 tons of rice from Vietnam worth 90 million USD, a year-on-year increase of 86% in volume and 120% in value. Vietnamese rice exported to China enjoyed an average price of 589.7 USD per ton, 18.3% higher than that of the same period last year. Chinese customers mainly imported Vietnam’s high-quality rice like fragrant rice and sticky rice with high prices. Meanwhile, the Philippines is anticipated to import about 2.8 million tons of rice from Vietnam during the 2022-2023 crop because the country’s rice … [Read more...] about Vietnam expected to export 7 million tons of rice this year: Ministry

An HDBank transaction office in HCM City. HDBank hopes to maintain its high growth momentum in the coming years. — Photo courtesy of HDBank The Ho Chi Minh City Development Joint Stock Commercial Bank has announced its 2022 results audited by PwC, which shows profit before tax of nearly VND10.27 trillion (US$437.18 million), its highest ever and up 27.2 per cent from the previous year and 105 per cent of the target approved by shareholders. The non-performing loans (NPL) ratio was low, while operational safety indicators were among the best in the industry. The operating income for the year topped VND22 trillion ($936.39 million), up 31.1 per cent. Its credit, services, card, and digital banking businesses all saw high growth. The total number of credit cards it issued quadrupled while their transaction value nearly tripled, and the number of e-banking transactions doubled with their value growing by six times to VND761 trillion ($$32.39 million). The return on equity and … [Read more...] about HDBank outstanding loans to property sector, corporate bond holdings among industry lowest