Local Index down despite Wall St rally (13-02-2009) HA NOI — The sinking HCM City stock market tread water yesterday, ending the day off just 0.05 per cent to close at 276.09 points. Many analysts believed that Wednesday's rally on Wall Street, in response to the US Congress' compromise on a US$789 billion economic stimulus bill, saved the domestic market from plunging further. Although concerned with declining business results published by some listed firms, investors stepped up their purchases of a few blue chip shares, helping Pha Lai Thermal Power (PPC), Phu My Fertilisers (DPM) and Thu Duc House (TDH) buck the prevailing trend and gain some points yesterday. Trading volume rose to 7.8 million shares, worth VND159.89 billion ($9.1 million). Refrigeration, Electrical and Engineering (REE) became the most-active share, with 1.25 million traded, followed by Sacombank (STB) with 477,560. "The HCM City Stock Exchange put REE, with other three firms, on observation and issued a … [Read more...] about Local Index down despite Wall St rally
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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
U.S. Democratic presidential candidate Barack Obama said on Friday that if elected he might have to scale back his plan for energy investment to help pay for a proposed $700 billion financial industry bailout. "I want to make sure that we are investing in energy in order to free ourselves from dependence on foreign oil. Now, that is a big project. That is a multi-year project," Obama said in a televised debate with Republican rival John McCain. Democratic presidential nominee Senator Barack Obama (D-IL) speaks during the first presidential debate at the University of Mississippi in Oxford, Mississippi September 26, 2008. … [Read more...] about Obama says Wall St bailout may cut his energy plan
“Voice of the Wall” is the name of French artist Lolo Zazar's photo exhibition at L'Espace, Hanoi, which depicts Hanoi's patchy walls. "When I go out on the streets, I often see that Hanoi is like an open air museum. Its walls are like works of art. It makes me take out my camera to capture each image", says Zazar. The 18 photos on display at the exhibition are selected from 2,500 he took over the last five years in Hanoi. They reflect the rapid change of walls in the capital. Living 5 years in Vietnam, being attracted by rapid changes of Hanoi, Lolo Zazar records time’s marks on walls of the city with sharp and romantic view. KH CAT B TONG means drilling and cutting cement. These mobile phone numbers are from individual and small business which provides services for building and destroying buildings. Thousands of phone numbers like these cover the public walls in Vietnam and a big fragment of history is being written in these walls. These signs are made by … [Read more...] about “Voice of the Wall” through Zaraz’s photos
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?