On Ho Chi Minh Stock Exchange (HoSE) represented by the VN-Index, 202 stocks gained while 127 stocks lost. HoSE accounts for a 90 percent market cap of all Vietnam’s listed companies. Liquidity of order-matched transactions plunged to VND2.79 trillion ($120.4 million) from VND2.9 trillion ($125.15 million) the previous session, well below last month’s average of VND3.5 trillion ($151.79 million). The VN30-Index for Vietnam’s 30 biggest market cap companies also added 0.74 percent, with 20 stocks gaining and 5 losing. MSN shares of food giant Masan Group led gains this session, clawing back 5 percent after losing a total 20.85 percent between Wednesday and last Tuesday. Stocks had plummeted last Tuesday when Masan announced a merger deal with Vingroup, Vietnam’s biggest conglomerate, the biggest losing stock on the VN30 for 5 sessions since. Vietnam’s three biggest state-owned lenders by assets all posted positive results, … [Read more...] about VN-Index posts gains in cautious session
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Corruption increases the cost of doing business, distorts the competitive environment, limits opportunities for investment and widens the growing social inequality, according to a UNDP expert. Overview of the forum. Vietnam is under growing pressure to take measures to address corruption in the private sector, according to Catherine Phuong, assistant resident representative of UNDP Vietnam. “Foreign countries are enhancing enforcement of anti-bribery legislation, resulting in rigorous implementation of corporate compliance programs in their daily operations in emerging markets, including Vietnam,” said Phuong at a forum discussing corruption in non-state business and organizations on December 12. Phuong referred to the Vietnam Provincial Competitiveness Index (CPI) 2018 that showed more than half of the companies surveyed said they pay “informal charges”. Catherine Phuong, assistant resident representative of UNDP Vietnam. … [Read more...] about Vietnam under pressure to address corruption in private sector: UNDP
Passengers disembark a Vietjet aircraft. Vietjet (VJC) rose 0.9 per cent on Thursday. —Photo vietjet.com HÀ NỘI — Markets rallied for the second consecutive session on Thursday, partly thanks to the Fed’s Wednesday announcement that it would keep interest rates unchanged and forecast no cuts or hikes in 2020. The central bank’s move helped boost market sentiment, Saigon-Hanoi Securities Co said in its daily report. The VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) rose 0.66 per cent to end Thursday at 968.17 points. Nearly 219 million shares worth almost VNĐ4.2 trillion (US$182 million) were traded on the southern market. The benchmark index increased 0.15 per cent to end Wednesday at 961.78 points. Market breadth was positive with 202 shares gaining and 127 declining. The large-cap VN30-Index soared by 0.74 per cent to stand at 884.80 points. Bank stocks expanded at the end of the trading session, supporting … [Read more...] about Fed’s signal of no rate hike boosts shares
Hanoi (VNA) - Resolution No.27-NQ / TW 2018 states that by 2020,the minimum wage must ensure minimum living standard of employees. Will the results of the National Wage Council’s meeting make this goal reachable? The National Wage Council convenes the first meeting, discussing regional minimum salary hike 2020 (Photo: VietnamPlus) On June 14, the National Wage Council will convene its first 2019 meeting to discuss raising the minimum wage. 7-8 percent wage hike proposal Talking with reporters at the beginning of the meeting, deputy head of the Vietnam General Confederation of Labour (VGCL)’s Department of Labour Relations Le Dinh Quang said the 2018 minimum wage negotiations helped raise 2019’s minimum wage, meeting about 95 percent of the minimum living standard for employees. “The economic landscape for 2019 is favourable for a minimum wage hike by 2020. 'Filling' the gap between the minimum wage and the minimum living standard is VGCL’s … [Read more...] about National Wage Council’s meeting: Is salary hike 2020 ‘reachable’?