Vietnam Stock News 
Cotton May Be Traded on Vietnam Commodity Exchange
Vietnam’s Ministry of Industry and Trade (MoIT) has proposed that cotton fibre may be listed for trade on the Vietnam Commodity Exchange (VNX). Trading on VNX would reduce price speculation of the commodity, as prices would be based on transparent supply and demand situation. It would also establish a link between the Vietnamese domestic market and international market, said participants in a seminar held in HCM City. The seminar was organized by MoIT’s Domestic Market Department in association with EU-Vietnam Multilateral Trade Assistance Project III. Garments and textiles constitute a major portion of Vietnam’s exports, but the domestic production…
Full Story»Vietnam Stocks Poised for Worst Week in a Year on Policy Concern
Vietnam’s stocks fell on Friday, capping the worst weekly loss in a year, as investors considered this year’s rally overdone amid concern that monetary policy easing may fail to spur growth. The Ho Chi Minh City Stock Exchange’s VN Index declined for an eighth straight day, dropping 1.7 percent to 434.95 at the close. The [...]
Full Story»Survey Finds PC Software Piracy in Vietnam Costs $395 Mln
Vietnam recorded a PC software piracy rate of 81 percent in 2011, costing the big business interests that control the computer industry US$395 million in commercial value, according to an international study released in Hanoi on Thursday. The rate decreased by two percent compared to the previous year, and the value was down by four [...]
Full Story»Vietinbank bonds sell well on Singapore Exchange
The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) successfully sold out its international bonds worth US$250 million on the Singapore Exchange (SXG) on May 18…
Full Story»TVS says error in transaction wasn’t costly
Thien Viet Securities Co (TVS) did not incur any financial losses resulting from the purchase of over 6.4 million shares in HCM City Infrastructure and Investment (CII), TVS General Director Tran Quoc Tuan has said. In a letter sent to its shareholders on Thursday, Tuan said in the first half of this year, TVS successfully consulted a major shareholder of CII to transfer a large amount of CII shares to a foreign investor. However, on May 10, due to an error in executing a transaction, over 6.4 million CII shares, which should have been transferred to the foreign investor’s account, mistakenly arrived in…
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May 19: Vietnam Gold Inches up to VND42.12Mln/Tael
Vietnam gold rose by VND370,000 a tael to VND42.12 million/tael on Saturday morning, following the world gold prices. SJC Hanoi quoted at VND41.90 million/tael for bid and VND42.12 million/tael for ask, respectively as of 11:32 am, Hanoi time. SJC Sacombank-gold was listed at VND41.95-VND42.10 million/tael for bid and ask, respectively Rong Thang Long gold, a product of Bao Tin Minh Chau company was trading at VND41.50 million/tael and VND41.80 million/tael for bid and ask, respectively. In the market, non-SJC gold was trading around VND320-400,000/tael lower than SJC gold this morning, almost…
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May 19: Vietnam Central Bank Keeps Dollar Exchange At VND20,828
Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Saturday, unchanged for nearly 5 months, the longest string since it has been applied but also the highest one. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,036 but commercial banks mostly quoted dollar prices below the upper limit. Commercial banks kept the exchange rate unchanged for a week, rang ing from VND20,810-20,830 for bid and VND20,870 for ask, respectively. Dollar Price Quote for May 19th…
Full Story»Crude Oil Settles Below $92 for First time Since October
Brent crude dipped on Friday in choppy trading after recovering from a 2012 low as the euro rallied from a four-month low, but oil remained on track a third straight weekly loss as Greece’s political turmoil kept concerns about the euro zone in focus European officials are working on contingency plans in case Greece exits the euro zone, the EU’s trade commissioner said on Friday, while Berlin said it was prepared for all eventualities. Oil felt pressure early from data showing Chinese home prices in April fell for a second month in a row from year ago levels. Position squaring …
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Gold Settles Near $1592 as Euro Recovers
Gold prices rose on Friday, building on the previous session’s hefty gains, as a recovery in the euro prompted fresh buying of the precious metal after prices slid to five-month lows earlier this week. Gold posted its biggest one-day gain since Jan. 25 on Thursday, recovering some ground lost during its longest run of losses in five months. “For the first time in ages yesterday, gold divorced itself from the euro and started to improve on the crosses,” said Simon Weeks, head of precious metal at the Bank of Nova Scotia. Spot gold [XAU] rose $15.84 to reach…
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