Talk Around Town (21-03-2007) College students catch stock market madness by Trung Hieu The cafes of Hang Hanh Street have long been considered a haven for the capital’s young and beautiful, those who would idly waste away afternoons sipping lattes while engrossed in conversations about how to highlight their hair. This has all changed however, as the street, like much of the country, has been swept up by the mad rush to invest on the country’s red hot stock market. Gone are the conversations about style and fashion, and in their place students discuss the VN Index, portfolios and stock tips. Most I spoke to seemed genuinely happy as their investments were beginning to bear fruit. Traditionally, we often think of the stock market as the playground for the rich, for people that can call on large amounts of capital and can if need be, afford to lose. But today, even students that could be considered poor are jumping into the market feet first in the hope of turning their … [Read more...] about College students catch stock market madness
Stock market college
People pray during a special service to wish for their family members’ success in the college entrance exams at the Jogye temple in Seoul, South Korea, today. — AP/VNA Photo Viet Nam News SEOUL — South Korea fell silent today with heavy trucks banned and businesses opening late as more than 600,000 students sat the high-stakes annual college entrance exam which could define their future in the ultra-competitive country. Success in the exam - which teenage South Koreans spend years preparing for - means a place in one of the elite colleges seen as key to future career and even marriage prospects. To clear the roads for the 606,000 students to ensure they arrive on time, government offices, major businesses and even Seoul’s stock market opened an hour later than usual at 10:00 am (0100 GMT). Transport authorities ban all airport landings and take-offs for a 30-minute period in the early afternoon to coincide with the main language listening test. Work at … [Read more...] about S. Korea falls silent for crucial college entrance exam
Business Beat (26-03-2007) Forum says more shares would cool market by Hong Van Participants at the second annual Viet Nam Investment Forum in Ha Noi last week urged the Government to accelerate the limping equitisation of State-owned corporations to increase listed shares and cool the overheating stock market. Many agreed that enterprises such as the Bank for Foreign Trade of Viet Nam (Vietcombank), the Mekong Housing Bank (MHB), MobiFone and Vinaphone should have already completed their initial public offerings and listings. But one year after the first Viet Nam Investment Forum, these groups are still equitising. However, vice chairman of the National Assembly’s Commission for Economics and Budget Duong Thu Huong argued that equitisation went rapidly last year and would move even faster this year. While she agreed that many more enterprises should be listed as stock market demand far outweighs supply, she also said that the State must be sure to carefully evaluate its assets … [Read more...] about Forum says more shares would cool market
Nine months after stock-market wagers on a baby boom in China reached record levels, the bets have turned into some of the nation’s biggest losers as living costs deter couples from having more than one child. While milk-powder producers Biostime International Holdings Ltd. (1112) and Yashili International Holdings Ltd. (1230) surged to all-time highs after the ruling Communist Party relaxed its one-child policy last November, the stocks have lost at least 40 percent this year, with Biostime leading declines in the MSCI China Index. Hengan International Group Co. (1044), a diaper maker, has dropped 8.4 percent even as the MSCI gauge rose 5.5 percent. Less than 3 percent of the 11 million Chinese couples eligible for another child applied for permission by the end of May, jeopardizing government efforts to bolster a population that the United Nations predicts will start shrinking by 2030. Raising a child from birth through to 18 years of age costs about 23,000 yuan ($3,745) a … [Read more...] about China baby boom wagers go bust in stocks as kids cost too much
In China, the invisible hand of the market sometimes needs help from the iron fist of the state. That’s certainly true after a meltdown vaporized $3.5 trillion in the value of shares traded on the Shanghai and Shenzhen exchanges. President Xi Jinping’s government isn’t being subtle in its campaign to reflate the bubble it had a big role in creating. The government has suspended initial public offerings and eased rules on margin loans, even allowing investors to use their homes as collateral to borrow money to buy stocks. On June 27, the People’s Bank of China cut its benchmark interest rate and the amount of reserves certain banks are required to hold. Days later, it offered financial support to a group of 21 brokerages that have pledged to buy 120 billion yuan ($19.3 billion) worth of shares and hold them for a year. On July 8, China’s securities regulator banned major company shareholders (those with stakes exceeding 5 percent), corporate executives, and … [Read more...] about Who blew up China’s stock bubble?