Stock trade dull despite low CPI Thuy Trieu By Thuy Trieu - The Saigon Times Daily HCMC – Despite the low consumer price index in November, investors still stood on the sidelines last week as the VN-Index and average daily trade on the southern bourse were lower than the previous week. With four falling and one rising session, the VN-Index lost a combined 4.01 points last week and hit 381.7 on Friday. A familiar scenario of moving in a narrow range of the VN-Index expanded last week as the index did not change over 0.5% a day. Moreover, trade on the bourse nearly declined day by day. The whole week saw an average 21 million securities changing hands a day with an average value of VND300 billion. The trading value last week was the lowest of the year. Last Friday saw 84 stocks increasing and 97 others falling. Most of high-cap stocks declined as only six of the 30 biggest stocks on the bourse rose while 14 others fell. That made the VN30 index lose 2.51 points at 449.73. … [Read more...] about Stock trade dull despite low CPI
Trade
VN-Index down on poor trade
VN-Index down on poor trade Thuy Trieu By Thuy Trieu - The Saigon Times Daily HCMC - The stock market blues have extended with on Thursday seeing yet another decline of the southern exchange’s index. The VN-Index on Thursday eased off 0.65 point at 383.22 with trading volume lower. Lack of supporting news, trading on the Hochiminh Stock Exchange was still dull as investors were continuing their hold position. Trading value in the matching phase on this bourse dropped 21.5% from Wednesday to VND207.5 billion worth of 18.2 million securities, falling 4%. That showed investors decreased transactions of blue-chips. Among 30 large-cap stocks on the bourse, there were nine falling and seven increasing. Only Gemadept (GMD) rose VND700 to hit the ceiling price of VND16,600 per share while no stock dipped to the floor. A fair balance between the winners and losers led the VN30 index to slightly fall 0.63 to 452.24. Kinh Do Corp. (KDC) eased off its rising streak on Thursday as it … [Read more...] about VN-Index down on poor trade
IFC raises trade finance limit for VIB
IFC raises trade finance limit for VIBBy Son Nghia - The Saigon Times DailyHCMC – International Finance Corporation (IFC), a member of World Bank Group, on Wednesday raised trade finance limit for Vietnam International Commercial Bank (VIB) to US$30 million to help the local lender improve export and import lending, raise foreign currency collection and generate jobs.Simon Andrews, regional director of IFC for Vietnam, Laos, Cambodia and Thailand, said the higher limit was given despite shrinking liquidity globally.VIB general director Duong Thi Mai Hoa said the higher limit under IFC’s Global Trade Finance Program (GTFP) has helped the bank significantly improve payment risk guarantee capability in financing Vietnamese companies, especially small and medium-sized enterprises (SMEs), while other trade finance sources are shrinking.“Joining the network of over 400 banks of GTFP, VIB will have chances to seek global partners and reach out to new markets,” Hoa … [Read more...] about IFC raises trade finance limit for VIB
VN affirms its commitment to multilateral trading system
Viet Nam commits to the multilateral trading system and is ready to cooperate with other World Trade Organisation (WTO) members on WTO issues.This affirmation was made by Deputy Minister of Industry and Trade Tran Quoc Khanh while speaking at the plenary session of the 11th WTO Ministerial Conference, taking place in Argentina on December 11.Appreciating the role of the WTO, Khanh emphasised that there have been many changes since the 10th WTO Ministerial Meeting to date.Many bilateral free trade agreements (FTAs) and regional trade agreements (RTAs) have been further negotiated. Meanwhile, populism, especially trade protectionism, has come back strongly, with potential risks to global trade, as well as to the multilateral trading system.The deputy minister said that the multilateral trading system has some shortcomings, which are not suitable to the changing of the era.He stressed that the organisation should come up with solutions to overcome the limitations and improve the quality … [Read more...] about VN affirms its commitment to multilateral trading system
Strong second half of year results in big trade surplus
The General Statistics Office reported that, overall, the economy witnessed a record trade surplus of $2.75 billion in the year’s first 11 months.This number came on the back of a total export turnover of $193.8 billion, up 21.1 per cent year-on-year. Local enterprises earned $53.1 billion, up 16.8 per cent year-on-year, and foreign enterprises raked in $140.7 billion (including crude oil exports), up 22.8 per cent year-on-year.Meanwhile, the import turnover reached $191 billion, up 21 per cent year-on-year – with locally-owned firms fetching $76.5 billion (up 18 per cent year-on-year) and foreign firms raking in $114.5 billion (up 23.2 per cent year-on-year).Foreign enterprises held a trade surplus of $26.2 billion, while local enterprises suffered from a trade deficit of $23.4 billion.Over the course of 2017, there has been an inversion in the trade situation. In the year’s first half, the economy suffered from a trade deficit of $2.78 billion, with each of the … [Read more...] about Strong second half of year results in big trade surplus