Investors conduct transactions at Bảo Việt Securities Company. — VNA/VNS Photo Trần ViệtViet Nam News HÀ NỘI — Vietnamese stock market dropped again on Wednesday as investors refused to buy in stocks when there was only two days left until the end of the year. The benchmark VN Index on the Hồ Chí Minh Stock Exchange lost 0.69 per cent to close at 891.75 points. The southern market index has declined by total 7.23 per cent in the last 10 trading days since December 13, repeating the same losing streak it made in May 2011. The HNX Index on the Hà Nội Stock Exchange inched down 0.16 per cent to end at 102.28 points. The northern market index has totalled a four-day decrease of 2.15 per cent since last Friday. The market decline could possibly come from investors’ worries about the instability of the world’s economic momentum, which was overshadowed by concerns over the US political conditions and the … [Read more...] about Stocks fall deeper at year-end
Year end marketing report
Volatility, year-end demand drive gold prices up
Gold spot gained nearly 2.7 per cent to US$1,223 per ounce on Tuesday from $1,200 per ounce on October 1, data on kitco.com showed.— Photo cafef.vn A volatile global market plus higher year-end demand has pushed gold prices in Viet Nam up over the last six weeks with more hikes expected. Gold spot gained nearly 2.7 per cent to US$1,223 per ounce on Tuesday from $1,200 per ounce on October 1, data on kitco.com showed. On nymex.com, gold futures rose 2.8 per cent to $1,225 per ounce on Tuesday from $1,191 on October 1. In Viet Nam, prices published by local companies have also risen in recent weeks. At Bao Tin Minh Chau Jewellery and Gemstone Co and Phu Nhuan Jewellery JSC, gold bars were being sold at around VND36.5-36.6 million per tael (around $1,620 per ounce) on Tuesday. Local gold prices have increased by around 0.3 per cent since October 1. According to PNJ general director Le Tri Thong, gold prices always rise in the second half of the year. Gold trading is higher in the … [Read more...] about Volatility, year-end demand drive gold prices up
Pharmaceuticals stay on course for stronger year end
Not all Vietnamese drug companies target overseas markets, but those that scrap the foreign ownership limit tend to go international more often than not Imexpharm Pharmaceutical JSC (IMP), one of Vietnam’s four biggest pharmaceutical firms, is to open the Vinh Loc high-tech antibiotic plant at a cost of VND180 billion ($7.83 million) by the years’ end, while inaugurating the VND370 billion ($16.09 million) Binh Duong high-tech pharmaceutical plant in late 2019. “We plan to complete the portfolio of EU-GMP-standardised products to increase the contribution of ethical drugs to the total revenue, while locating partners to boost exports,” Nguyen Quoc Dinh, chairman of IMP’s board of directors, told VIR. “To ease over-the-counter (OTC) pressures, we aim to increase the contribution of ethical drugs to 40 per cent by 2020, while decreasing that of OTC revenue to 50 per cent, while reserving 10 per cent for exports,” he added. IMP currently has … [Read more...] about Pharmaceuticals stay on course for stronger year end
Pending project market gets busy towards the year end
VietNamNet Bridge - A number of projects left unimplemented for many years have changed hands, while more and more large transfer deals have been reported recently. The real estate market has warmed up CapitaLand has spent VND1.380 trillion to acquire a project covering an area of 60,000 square meters in district 9, HCMC which has been stagnant for five years. Just a short time before, it spent $33 million to take over a pending apartment project, covering an area of 1.4 hectares on Ton That Thuyet street. Meanwhile, Novaland only eyes projects in advantageous positions. The real estate developer has acquired Co Giang apartment project in district 1 from Dat Viet Development JSC. The project, which has been stagnant for 11 years, has been renamed as Grand Manhattan. US$1=VND22,000 RELATED NEWS Real estate market is ‘fragile’, could lead to another bubble, experts say Real estate market to prosper thanks to stock upswing Kim Chi … [Read more...] about Pending project market gets busy towards the year end
Vietnamese stock market could miss year-end mark
The benchmark VN-Index stood at 913.98 points at the end of the Tuesday morning’s trading session, a drop of almost 300 points – 25 percent – off the peak it had set in April. Given the peaks it reached in the first quarter and the plunge from there in the second, experts are going back on gung-ho predictions they’d made earlier. Bloomberg said last week that the VN-Index has now erased all of its 2018 gains and seen volatility surge to levels not witnessed in more than eight years. Among the reasons being listed for investors withdrawing from the market are global economic fluctuations, trade wars, foreign investment outflows and profit-seeking selling of blue-chip stocks. The Bloomberg report said that investor sentiment had reversed with the U.S. Federal Reserve increasing its basic interest rate, sending the dollar up and the Vietnamese dong down. Foreigners began to leave the Vietnamese market soon after, and outflows only worsened with … [Read more...] about Vietnamese stock market could miss year-end mark