Transactions on Vietnam's stock market between December 7 and 13 Recently, rumors got around about a possible deposit rate cut by the central bank as a result of the declining inflation in the past few months. At the peak of the spreading rumor, the stock market responded positively when the VN-Index climbed by more than seven points early last week. However, central bank officials quickly quashed the rumor, saying that such a deposit rate cut is not likely in the current situation. The stock market immediately reversed on the following day and, at press time, the point-losing streak extended to this week's first two trading sessions. Analysts contend that a deposit rate slash is unrealistic given what is happening on the market. The foreign exchange rate has been soaring under the pressure of foreign exchange credit growth because businesses are desperately in need of foreign currencies to pay their debts. What's more, the interest rate level cannot be lowered using merely … [Read more...] about Stock Hopes Rest On Interest Rate
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Property stock values plunge deeply
HCMC – The dreary property market this year has led to the plunge in real estate stocks as the share values of several listed property firms had dropped as much as 80%. When the property market was still bustling, real estate stocks were among the most attractive to investors. However, multiple property companies have been helplessly watching their market values strongly decline since the year’s beginning. Investors’ confidence in the market also dwindled in accordance with the gloomy market trend, especially after the central bank tightened credit for property even though the sector has yet to prosper since its fall in 2008. The businesses of property firms were reflected in their stock prices. Among the 60 listed realty firms, the share values of several companies were now equal to 20% compared to the end of 2010. Van Phat Hung Corporation (VPH), for example, sees its VPH price of VND25,000 per share in 2010-end drop to a mere VND5,000 now. Similarly, … [Read more...] about Property stock values plunge deeply
U.S. stocks soar on positive German economic data, strong Spain bond auction
U.S. stocks soared on Tuesday after Spain debt auction met strong demand and German business and consumer confidence data rose unexpectedly despite ongoing debt crisis in the region. It was the best day for major indexes in about a month. The Dow Jones industrial average surged 337.32 points, or 2.87 percent, to 12,103.58. The Standard & Poor's 500 rallied 35.95 points, or 2.98 percent, to 1,241.30. The Nasdaq Composite Index soared 80.59 points, or 3.19 percent, to 2,603.73. Sentiment was boosted in early trading after the Ifo institute' s business climate index, based on a survey of 7,000 executives, climbed to 107.2 from 106.6 in November, while market analysts were expecting a drop. Meanwhile, two economic institutes predicted that Germany, Europe's biggest economy, will stave off the debt crisis and avoid a recession in 2012. Also easing the concerns about the European debt crisis, Spanish 10-year yields fell to a two-month low of 5.06 percent after the country … [Read more...] about U.S. stocks soar on positive German economic data, strong Spain bond auction
U.S. stocks end sharply higher on strong holiday sales, European hopes
The U.S. stocks soared on Monday, with the S&P 500 snapping a seven-day losing streak, as investors were encouraged by strong holiday sales and new hopes for a more radical European debt solution. Traders work at the New York Stock Exchange in New York, the United States, Nov. 28, 2011. U.S. stocks soared on Monday, with the S&P 500 snapping a seven-day losing streak, as investors were encouraged by strong holiday sales and new hopes for a more radical European debt solution. The blue-chip Dow rallied nearly 2.6 percent at the close. The broader S&P 500 surged over 2.9 percent and the tech-heavy Nasdaq soared about 3.5 percent. (Xinhua/Shen Hong) Data showed that American consumers spent more than expected in the Thanksgiving Holiday, easing concerns for a more sluggish economy. According to the National Retail Foundation, Black Friday sales hit records this year, pulling in 52.4 billion dollars. Cyber Monday, the biggest online shopping day of the year, was also … [Read more...] about U.S. stocks end sharply higher on strong holiday sales, European hopes
Vietnam seeks to revive stock markets, allows ETFs
Vietnam's government will allow exchange-traded funds and open-end funds to operate and seek to monitor indirect investment inflows in an attempt to support the sliding stock market, the Finance Ministry said. The Vietnam Index has lost nearly a fifth of its value so far this year in the face of macroeconomic instability as the country battles one of the highest inflation rates in Asia, a slumping property market and a troublesome banking sector. The ministry will issue guidelines on the operation of open-end funds by year-end and publish rules on property investment funds and voluntary retirement funds in early 2012 to attract more institutional investors and boost demand, it said in a statement. The package of measures aism to "continue to stimulate the stock market for a stable development," it said. The ministry will launch a programme to restructure the stock market next year and in 2013 and seek to manage the inflow of indirect investment with policies expected to take … [Read more...] about Vietnam seeks to revive stock markets, allows ETFs