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The upgrade is likely to widen Vietnam’s access to large funds allocated according to the FTSE Emerging Index, including Vanguard FTSE Emerging Market ETF.  FTSE benchmark. Source: FTSE, KB Securities Vietnam.  Vietnam is has good chance of winning the second emerging market status in the next review in September 2020 by FTSE Russell, a leading global provider of financial services, according to KB Securities. Vietnam is currently in the Frontier market group, and was added to the FTSE Russell’s watchlist for posible upgrade to Secondary Emerging Market in September 2018. However, after one year of review, Vietnam only met seven out of nine criteria of FTSE. The criterion of “Settlement – rare incidence of failed trades” was not evaluated. The brokerage believed that this is not a big issue, simply due to the low supply of information from the State Securities Commission (SSC), while the “clearing & settlement … [Read more...] about Vietnam highly likely to be upgraded to second emerging market next September

On Ho Chi Minh Stock Exchange (HoSE) represented by the VN-Index, 202 stocks gained while 127 stocks lost. HoSE accounts for a 90 percent market cap of all Vietnam’s listed companies. Liquidity of order-matched transactions plunged to VND2.79 trillion ($120.4 million) from VND2.9 trillion ($125.15 million) the previous session, well below last month’s average of VND3.5 trillion ($151.79 million). The VN30-Index for Vietnam’s 30 biggest market cap companies also added 0.74 percent, with 20 stocks gaining and 5 losing. MSN shares of food giant Masan Group led gains this session, clawing back 5 percent after losing a total 20.85 percent between Wednesday and last Tuesday. Stocks had plummeted last Tuesday when Masan announced a merger deal with Vingroup, Vietnam’s biggest conglomerate, the biggest losing stock on the VN30 for 5 sessions since. Vietnam’s three biggest state-owned lenders by assets all posted positive results, … [Read more...] about VN-Index posts gains in cautious session

Prime Minister Nguyen Xuan Phuc (R) and USABC Chairman Keith Williams (Photo: VNA)    Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has affirmed the Vietnamese government’s determination to reform the country’s business environment and provide all possible support for foreign enterprises, including those from the US, to do business in Vietnam. During a reception in Hanoi on December 12 for a delegation from the US-ASEAN Business Council (USABC) led by its Chairman Keith Williams, PM Phuc said he himself and ministers have always paid attention to approving and accelerating the implementation of major US projects in Vietnam. Lauding the US as one of the most important partners of Vietnam in various areas, he said Vietnam is always sincere, straightforward and open with US enterprises. Mentioning Vietnam’s goal of achieving a balanced trade with the US, the PM suggested that the USABC should play a greater role in promoting bilateral ties and the … [Read more...] about PM promises to create optimal conditions for US enterprises

Hoa Sen Group shipped the largest batch of plated steel to Mexico (Photo: VNA) Nghe An (VNA) – Hoa Sen Group shipped 15,000 tonnes of steel sheets worth 12 million USD to Mexico from Nghi Son port in the central province of Nghe An on April 22. This is the largest batch of plated steel destined for the American country after the Comprehensive and Progressive Agreement for Trans-Pacific (CPTPP) came into effect. The group said that in the context of unpredictable price fluctuations of hot rolled steel exerting immense pressure on the steel industry in recent times, Hoa Sen has adopted various measures to develop both domestic and foreign markets. In the 2017-2018 fiscal year, Hoa Sen raked in 538 million USD from exports, up 27 percent from the previous fiscal year. Its products have been present in more than 75 countries and territories so far. Additionally, the corporation is targeting exports to several markets with high standards, like the Americas, Europe, and … [Read more...] about Hoa Sen Group exports 15,000 tonnes of steel sheets to Mexico

Inside a Mirae Asset Securities Co's company. With strong financial capability, Korean investors have quickly increased their charter capital and become a formidable competitor to domestic firms. — Photo thebank.vn Shares in securities companies seem to have lost their shine for investors in the face of fierce competition from foreign-invested firms. Securities stocks are favoured by speculative investors thanks to their high liquidity. However, this group has gone quiet in the latter half of this year despite several tides on the stock market. Shares in big companies such as Saigon Securities Inc (SSI), Ho Chi Minh Securities Corp (HCM), VNDirect Securities Co (VND), Vietinbank Securities Co (CTS) and Sai Gon-Ha Noi Securities Co (SHS) have lost 20-50 per cent of their value this year. SSI, Viet Nam’s biggest brokerage company, plunged 26.5 per cent this year, sliding from nearly VND27,000 (US$1.16) to around VND20,000 this week. HCM has also lost more than 50 per cent, … [Read more...] about Securities stocks lose shine for investors