The statue of a bull and a bear in front of the HCM Stock Exchange. The benchmark VN Index lost 0.25 per cent to close Tuesday morning at 985.12 points. — Photo tinnhanhchungkhoan.vn Vietnamese shares fell on Tuesday morning, dragged down by low investor confidence following the announcement of US tariffs on US$200 billion worth of Chinese imports. The benchmark VN Index on the HCM Stock Exchange dropped 0.25 per cent to close at 985.12 points. The southern bourse index lost 0.38 per cent on Monday after having gained a total of 2.3 per cent last week. The HNX Index on the Ha Noi Stock Exchange edged down 0.22 per cent to end at 112.51 points. The northern market index lost 0.54 per cent in the previous session. More than 129 million shares were traded on the two local bourses, worth nearly VND2.5 trillion (US$110.8 million). Declining stocks outnumbered gaining ones by 233 to 151 while 104 other stocks closed unchanged. The market sentiment was dragged down by the US latest … [Read more...] about VN shares extend declining on trade tariffs
The Federal Reserve has warned that escalation poses a serious economic risk. These are the first formal discussions with China since June on the spiraling and multifaceted trade war between the world's two largest economies. Meanwhile, U.S. and Mexican officials this week are expected to wrap up weeks of discussions on the rewrite of the North American Free Trade Agreement that could pave the way for Canada to rejoin the talks and move to a final agreement. President Donald Trump has pushed aggressive trade actions to lower the US trade deficit that he equates with stealing from Americans. But U.S. trading partners have retaliated aggressively, which is hurting American farmers, manufacturers and consumers. U.S. businesses have become increasingly concerned about the tariffs that are raising prices for manufacturers and could hurt the economy, although the prospect of a negotiated solution buoyed Wall Street this week. However, Federal Reserve officials warned that "an escalation in … [Read more...] about US, China talks raise optimism on eve of new trade tariffs
Viet Nam is set to play a pivotal role in Southeast Asia’s future economic landscape and emerge as one of the region’s most important countries. Its explosive annual growth of nearly 8 per cent in the noughties has retrenched only to around 6.5 per cent on average since 2010. Strong growth should continue, not least due to a young, dynamic and well-educated labour force, which is nonetheless very competitively priced. The country also represents a highly attractive domestic market of 90 million citizens with middle-class aspirations – hence all the trade envoys visiting this beautiful place. Viet Nam also enjoys a crucial – and hard-won - place in the world’s supply chains, in large part due to the authorities’ very proactive approach to global trade. Investment into the country has been encouraged across a number of sectors, from electronics to farming. Meanwhile, a flurry of some 16 free trade agreements have helped Vietnamese exports explode, … [Read more...] about How will Trump’s trade tariffs affect Asian growth?
Viet Nam News Outside Looking In Brian Spence* The threat of a trade war between the US and China has created considerable volatility in Asian markets in recent weeks. Investors fear that it poses a continued threat to the growth of Vietnamese companies and, potentially, to Vietnamese economic growth. These concerns are valid, but to my mind, demand greater scrutiny. An important point to note is that this volatility may feel uncomfortable, but it is not unusual. It comes after a sustained benign period in markets and volatility levels have only moved back to where they were in mid-2016 and remain at around half of their five year peak. While periods of low volatility are enjoyable while they last, the volatility we’re seeing today is a more normal pattern for stock markets. However, that doesn’t mean that we shouldn’t examine the underlying causes of that volatility. In this, we can place the blame squarely at the mounting trade war between the US and China. … [Read more...] about Should trade tariffs matter to investors in Việt Nam?
The Hanoitimes - Vietnamese Minister of Industry and Trade Vu Huy Hoang and his Lao counterpart Khemmani Pholsena signed a new cooperation agreement on March 3. Tariffs are scheduled to be eliminated on more than 95 percent of goods from Vietnam and Laos. Thu Minh … [Read more...] about Vietnam and Laos to abate trade tariffs for 95 percent of goods