Pork prices

Vietnam Economy ADB raises Vietnam’s growth forecast to 6.9% this year By Trang Nguyen Wednesday,  Dec 11, 2019,19:45 (GMT+7) ADB raises Vietnam’s growth forecast to 6.9% this yearBy Trang Nguyen Employees are seen working at a local firm. Vietnam’s GDP growth in the first three quarters of 2019 accelerated to 7%, the highest rate for the period in nine years – PHOTO: DAO LOAN HCMC – While trimming its forecasts for economic growth in developing Asia this year and next given the slower growth in China and India, the Asian Development Bank (ADB) has raised Vietnam’s growth forecast to 6.9% for 2019 and 6.8% for 2020. In a supplement to its Asian Development Outlook 2019 Update released in September, ADB expects gross domestic product (GDP) in the region to expand 5.2% in both 2019 and 2020, down from the September forecast of 5.4% growth this year and 5.5% next year. In Vietnam, GDP … [Read more...] about ADB raises Vietnam’s growth forecast to 6.9% this year

Trade Car prices drop during peak shopping season The Saigon Times Daily Wednesday,  Dec 11, 2019,19:54 (GMT+7) Car prices drop during peak shopping seasonThe Saigon Times Daily Cars on display at an expo in HCMC. Prices of many auto brands in the local market were lowered by VND20 million-VND300 million in the peak shopping season - PHOTO: HUNG LE HCMC – The automobile market outlook in HCMC remains dreary though the country is in its peak shopping season in the lead up to the Tet holiday early next year, with many car brands marked down by VND20 million to VND300 million per unit to encourage consumption. Local automobile dealers are rushing to lower prices to attract more car buyers as a result of high inventories, reported Sai Gon Giai Phong newspaper. The prices of cars such as the Toyota Fortuner, Toyota Innova and Mazda CX5 are down by VND20 million-VND40 million each. Besides this, reductions of between … [Read more...] about Car prices drop during peak shopping season

Vietcombank divested over $9 million from the share sale at the national airline Over the time period of January 25-February 8, the commercial bank was reported to conduct the stock transaction which subsequently downsized the bank’s proportion of shareholding at the national airline from the initial volume of 22.4 million shares to 14.8 million shares, commensurate with a reduction in the bank’s shareholding from 1.83 per cent to 1.21 per cent. As opined by the stock market’s analysts along the whole duration of the share deal, the commercial bank’s decision to divest such a hefty amount of stock at Vietnam Airlines was pondered as a “smart move” as the airline’s stock was regarded as an overweight on the domestic bourse with an unprecedented surging price of the ticker at VND70,000 ($3.07) per share. Briefly after the sale, the airline’s stock price plunged below VND50,000 ($2.2), a drop of roughly 30 per cent. The bottom of the … [Read more...] about Vietcombank sell-down sends national airline crashing

Transactions at the Orient Commercial Bank (OCB)(Photo: tinnhanhchungkhoan) The stocks will be sold at a starting price of VND13,000 (US$0.57) per share, according to the Hanoi Stock Exchange. The northern bourse said that OCB’s charter capital has reached VND5 trillion (US$220 million) with more than 110 units nationwide.  Last year, the bank earned VND816 billion (US$35.9 million) in after-tax profit, double the amount in 2016. Its total assets increased 32% to VND84.3 trillion (US$3.7 billion). Meanwhile, lending surged 25% to more than VND48.1 trillion (US$2.11 billion). Offloading holdings at OCB is one of Vietcombank’s moves to comply with the central bank’s Circular 36, which only allows commercial banks to hold shares in a maximum of two other credit institutions, with the stake in each not exceeding five percent of the total equity of that institution.  Apart from OCB, Vietcombank currently holds shares in Eximbank and Military Bank. … [Read more...] about Vietcombank offloads 6.67 million shares in OCB

Stock Market Large-cap stocks buoy market recovery The Saigon Times Daily Wednesday,  Dec 11, 2019,19:21 (GMT+7) Large-cap stocks buoy market recoveryThe Saigon Times Daily Two investors look at the electronic stock price quotation board at Maybank Kim Eng Securities Company. The local stock market recovered today, December 11, with the VN-Index rising 1.48 points - PHOTO: THANH HOA HCMC – The local stock market recovered today, December 11, with the VN-Index rising 1.48 points, or 0.15%, at 961.78, backed by the rising prices of large-cap stocks. On the Hochiminh Stock Exchange, the VN-Index rebounded and hit its highest level of the day after falling below the reference mark. There were 216.5 million shares worth nearly VND4.4 trillion changing hands, down 10.8% in volume and 12.6% in value over the session earlier. In block deals, 57.9 million shares were traded with a total value of nearly VND1.5 trillion. … [Read more...] about Large-cap stocks buoy market recovery