VN’s economy robust, PM tells Wall St Journal (28-09-2007) NEW YORK — In an interview with the financial daily Wall Street Journal on September 24, PM Dung stated that after 20 years of integration into the international economy, Viet Nam has made major socio-economic strides, and possesses one of the most robust economies in the region. The country’s GDP has quadrupled in 20 years. In 2006, the GDP saw an 8.2 per cent growth rate, ranking second in the region after China, Dung stated. He explained Viet Nam’s success with economic improvement by way of its shift in management; the country’s transition from a central economy to a multi-sector market economy; abandoning self-contained development and instituting open policies in order to actively integrate into the international economy. He said the Vietnamese Government has maintained a stable socio-political environment during the renewal process and has readily and willingly responded to policy and law … [Read more...] about VN’s economy robust, PM tells Wall St Journal
On wall st
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. … [Read more...] about Is VN safe from crisis on Wall St?
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 … [Read more...] about Local Index down despite Wall St rally
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
Asian stocks rose briskly on Wednesday, with sentiment lifting as Wall Street rose before a likely hike in U.S. interest rates, while the dollar held to large gains made as Treasury yields picked up. Spreadbetters saw the upbeat momentum in equities being retained in Europe and forecast a higher open for Britain's FTSE , Germany's DAX and France's CAC. The Federal Reserve is expected to announce a hike in interest rates when its two-day policy setting meeting ends later in the day. It would be the first U.S. rate hike in nearly a decade, signalling the beginning of an end to an expansionary monetary policy that has supplied a tidal wave of liquidity to risk asset markets globally. MSCI's broadest index of Asia-Pacific shares outside Japan rose 2 percent. Shanghai stocks edged up 0.8 percent and Australian shares rallied 2.2 percent. Crude oil prices bouncing from multi-year lows buoyed energy-related shares. Japan's Nikkei surged 2.5 percent, rebounding from a two-month low struck the … [Read more...] about Asia surges as Wall St gains lifts sentiment before Fed decision