China futures trading

A recent report by financial data provider Fiin Group shows that foreign-invested firms account for almost all the increase in exports to the U.S. as its trade spat with China intensifies. In the garments sector, for example, Vietnamese companies only accounted for 16 percent of the export value from June 2018-2019, with FDI firms making up the remaining 84 percent. South Korean garment manufacturers in Vietnam have been the biggest winners from the trade war, with 143 South Korean companies accounting for almost half of Vietnam’s garment export value in the period, the report said. It said South Korean corporations were better placed to reap the gains because they have been in Vietnam since early 2000s and have well established supply chains in the country. "The majority of Vietnamese companies are still small-sized and do not meet foreign buyers’ requirements on quality, quantity and cost."  A similar situation could be seen in the export of phones and parts. South … [Read more...] about US-China trade war spoils go to FDI firms

London stocks and the British pound jumped Friday after an election triumph for Conservative Prime Minister Boris Johnson that analysts said will bring clarity to Brexit proceedings and unlock stronger economic growth. Other European stock markets -- although lagging buoyant London, which rose over two percent at one point -- also powered ahead, supported by confirmation of a partial trade deal between the United States and China. However, Wall Street's rally petered out, with American equities finishing little changed on the day both Beijing and Washington finally said they were on the same page. Stocks had rallied Thursday in anticipation of the trade deal with China, but then declined when the pact was announced. "You got a pretty good example of 'buy the rumors and sell the news,'" Art Hogan of National Holdings told AFP, referencing the saying indicating equities rise more in anticipation of an event than after the event itself. "But it's certainly great news on Brexit … [Read more...] about European stocks surge on Johnson election triumph, US trade deal

Thailand’s exports in January-October 2019 reduced 2.4 percent year-on-year to 207.32 billion USD, while imports declined 4.1 percent to 199 billion USD. (Illustrative image. Source: thainews.prd) Bangkok (VNA) – Thailand’s Ministry of Commerce plans to cooperate with the private sector to promote trade in 16 countries to boost export growth in 2020, according to a local official. After talks with commerce officials on December 9, Thai Deputy Prime Minister cum Commerce Minister Jurin Laksanawisit revealed that trade destinations targeted for 2020 include India, Japan, South Africa, Sri Lanka, Hong Kong, China, Vietnam, France, the UK, the Middle East, Russia, Australia, New Zealand, the Republic of Korea, Bangladesh, the Maldives, Cambodia and Timor Leste. Local media reported that Jurin has ordered commerce officials and directors of Thai trade centers in 58 offices worldwide to seek opportunities to start new regional trade and cooperation agreements with states … [Read more...] about Thailand promotes trade to support exports

Workers stand near palm oil fruits inside a palm oil factory in Sepang, outside Kuala Lumpur. (File photo: Reuters) Hanoi (VNA) - Analysts remain upbeat on palm oil prices next year after Malaysia's palm oil inventory fell to a three-month low in November and exports to China remained steady. MIDF Research said in a report that tight supply and expected strong demand from palm oil importing countries such as China would keep crude palm oil (CPO) prices to improve next year. It anticipated CPO prices to trend higher at 2,450 and 2,600 ringgit per tonne in 2020 and 2021, respectively. The year-to-date average CPO price stayed at about 2,070 ringgit per tonne, which was within its target CPO price of 2,090 ringgit per tonne this year. Malaysia's official data released on December 10 showed that the world second largest palm oil producer stocks dropped 4.1 percent to a three months low of 2.3 million tonnes in November from its previous month, as weak output outweighed lower exports. … [Read more...] about Malaysia’s palm oil prices unlikely to drop next year

Containers loaded up at Dinh Vu Port in nothern Hai Phong City. — VNA Photo Reduced revenue from cutting taxes on imported goods in accordance with various free trade agreements (FTA) Viet Nam had signed was unlikely to affect State revenue, said the finance ministry in a conference held on Thursday in Ha Noi. Revenue from tariffs and taxes has decreased by VND13 trillion (US$475 million) compared to the same period last year. However, the ministry said earlier forecasts for net revenue to reach VND340 trillion by the end of the year remained unchanged. Le Manh Hung, deputy head of Vietnam Customs’s tax department, said import/export taxes were not the only revenue source as goods were also subject to other regimes including special consumption taxes, value-added taxes, anti-dumping duties and environmental protections taxes, among others. “FTAs only require the removal of import taxes. For goods subject to multiple tax regimes, only import taxes will be … [Read more...] about State revenue unlikely to fall despite numerous FTAs