Advertisements Investment funds unexpectedly divested capital from Vietnam’s stock market in October. However, the local securities market is still expected to rally in November and the last quarter, driven by strong growth of large-cap stocks. According to Saigon Securities Inc (SSI), Vietnam’s stock market performed well in October with the support of the information itContinue reading “Local securities market is still expected to rally in the last quarter”
Category Archives: Finance
Saigon-Hanoi Bank named Bank of the Year Vietnam 2020 by The Banker
Advertisements The Saigon-Hanoi Commercial Joint Stock Bank (SHB) of Vietnam has been named as “Bank of the Year 2020”. This award is annually selected by The Banker’s judges. The prestigious award was announced the day before yesterday. The “Bank of the Year” award is exclusively awarded to the top bank in each country. It isContinue reading “Saigon-Hanoi Bank named Bank of the Year Vietnam 2020 by The Banker”
Vietnam banks continue cutting deposit interest rates
Advertisements With the Covid-19 pandemic acting as a drag on credit growth, banks are continuing to cut deposit interest rates. State-owned lenders BIDV, Agribank and VietinBank this week reduced their 12-month rates by 0.2 percentage points to 5.6 percent. The other “Big 4” state-owned lender, Vietcombank, kept its 12-month rate unchanged at 5.8 percent butContinue reading “Vietnam banks continue cutting deposit interest rates”
Stocks climbs on strong money flow, gold surpasses VNĐ55 million
Advertisements Large caps accelerated in Wednesday’s afternoon trade, helping lift the VN-Index which slipped in the morning due to big divergence in key industries. On the Hồ Chí Minh Stock Exchange, the VN-Index increased 0.54 per cent to close the session at 1,014.32 points. Liquidity continued to rise with 684.5 million shares worth VNĐ14.3 trillionContinue reading “Stocks climbs on strong money flow, gold surpasses VNĐ55 million”
Vietnam textiles and garments industry faces great losses under pandemic impact
Advertisements The total export value of the textile and garment industry is forecast to reach about US$33.5-34 billion this year, a year-on-year decrease of 14-15 per cent, but higher than the forecast of $30-31 billion in April. The Ministry of Industry and Trade said this year was particularly difficult for the Vietnamese textile and garment industry whenContinue reading “Vietnam textiles and garments industry faces great losses under pandemic impact”
Vietnamese investors poured a total of 490.4 million USD in projects abroad while foreign investments poured into Vietnam down
Advertisements Vietnamese investors poured a total of 490.4 million USD in projects abroad in the first 11 months of 2020, up 6.9 percent year-on-year, according to the Ministry of Planning and Investment’s Foreign Investment Agency. Of the amount, 316.4 million USD was invested in 114 new projects, and 174 million USD was added to existingContinue reading “Vietnamese investors poured a total of 490.4 million USD in projects abroad while foreign investments poured into Vietnam down”
Foreign capital returns strongly to Vietnam
Advertisements There are signs of foreign capital returning to Vietnam in the context of global stabilization. Vietnam has a great opportunity to break out thanks to the rapid recovery from Covid-19 and its open economy. Finnish Pyn Elite Fund (Mutual Fund Elite) has recently sharply increased its ownership ratios of certain shares, including Vinhomes sharesContinue reading “Foreign capital returns strongly to Vietnam”
Vietnam’s Stock Market Breaking Its Record High
Advertisements The VN-Index rose 0.6 percent to 1,005.97 points Thursday, the first time it has crossed the four digit figure since November 20 last year. The benchmark index showed signs of its recent growth momentum slowing down this session, continuously fluctuating above and below the 1,000-point mark. However, buying pressure on the market’s blue chipsContinue reading “Vietnam’s Stock Market Breaking Its Record High”
Ecosystem in Banking: A new way of Thinking?
Advertisements The traditional integrated banking model is breaking apart. In its place, a diverse digital banking ecosystem of bank and non-bank players is emerging. Bringing together ways to make a consumer’s daily life easier is the future of Digital bank. Banking for the future: An open ecosystem Within the banking industry, ‘ecosystems’ are the buzzwordContinue reading “Ecosystem in Banking: A new way of Thinking?”
The third of geopark in Vietnam receive a UNESCO honour
Advertisements The Central Highland province of Dak Nong held a ceremony on November 24 to receive a UNESCO honour for its geopark, the third of its kind in Vietnam. Dak Nong Global Geopark covers an area of more than 4,700 km2, accounting for more than two fifths of the natural area of province and spanningContinue reading “The third of geopark in Vietnam receive a UNESCO honour”
VN-Index approaching 1,000 points
Advertisements The stock market will experience choppy trading this week with strong correction, analysts said. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 0.69 per cent to close Friday at 990.00 points. It had gained 2.45 per cent last week. An average of 480 million shares were traded on the southernContinue reading “VN-Index approaching 1,000 points”
Digital economy in Vietnam to reach $14 billion in 2020
Advertisements Southeast Asia’s digital economy remains resilient at $100 billion in gross merchandise value (GMV) despite headwinds and is on track to cross $300 billion in GMV by 2025, according to a report from Google, Temasek and Bain & Company. Indonesia and Việt Nam continued to grow at double-digit rates, and Singapore remains a regional enabler for growth, despite short term GMVContinue reading “Digital economy in Vietnam to reach $14 billion in 2020”
China becomes the first country to reach trade value of $100 billion with Vietnam this year
Advertisements China has become the first country to have a bilateral trade value of $100 billion with Vietnam this year. Vietnam exported $37.9 billion worth of goods to China in the first 10 months, up 14.8 percent year-on-year, and imported $65.6 billion, up 5.9 percent, according to Vietnam Customs. The value of two-way trade hasContinue reading “China becomes the first country to reach trade value of $100 billion with Vietnam this year”
Why IMF forecasts Vietnam to be one of the nations with highest GDP growth in 2020?
Advertisements The International Monetary Fund has revised upward its forecast for Vietnam’s 2020 GDP growth by 0.8 percentage points to 2.4 percent. Vietnam’s growth would be among the highest in the world, thanks to its successful containment of the Covid-19 pandemic, Era Dabla Norris, mission chief to Vietnam and division chief in the IMF’s AsiaContinue reading “Why IMF forecasts Vietnam to be one of the nations with highest GDP growth in 2020?”
The State Bank of Vietnam buys $1.3 bln in foreign currencies
Advertisements The State Bank of Vietnam has bought up VND30 trillion ($1.29 billion) in foreign currencies from commercial banks, brokerage firm SSI has reported. The purchase took place November 9-13 and the foreign currencies were acquired from domestic commercial banks, leading brokerage firm Saigon Securities Inc. (SSI) says in its latest report. Strong export growthContinue reading “The State Bank of Vietnam buys $1.3 bln in foreign currencies”