An investor watches stock prices on his laptop at MB Securities Company’s trading house (Photo: VNA) Hanoi (VNA) – The VN-Index of the southern bourse gained nearly 14 points to surpass 980 points on June 22, a recovery after the benchmark index suffered from several tumbles in previous trading sessions. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index fell to 963.89 points at the beginning of the day but later gradually rebounded to 976 points in mid-day. In the afternoon, buying demand continued to dominate the session, helping VN-Index end at 983.17 points, up 13.77 points. More than 132 million shares worth some 3.74 trillion VND (165.12 million USD) were traded on the HoSE. Among the large-cap stocks, VIC dropped by 1,200 VND per share while MSN and SAB saw their prices unchanged from the previous day. BVH, CTG, GAS, VCB and VNM advanced by 550 – 8,800 VND per share. In the VN30 basket, tracking the top 30 stocks in terms of market capitalisation and … [Read more...] about Indices rally on both bourses at week’s end
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Chinese firms increasingly active in M&A in Vietnam
Chinese companies have taken part in four M&A deals, worth USD749 million, in Vietnam last year and they are trying to set more footholds in the market, a recent report said. Chinese firms are trying to set more footholds in the Vietnamese M&A market A report on M&A in Vietnam in 2012 by StoxPlus, a Vietnamese financial portal, said that Chinese firms have been increasing their foreign investment in recent years, including Vietnam. In 2010 Chinese businesses invested more than USD30 billion in foreign countries. Last year the figure climbed to USD42.9 billion. In Vietnam, over USD4.4 billion in Chinese foreign direct investment went to Vietnam, exceeding Japanese firms, with USD2.4 billion and Singaporean companies who invested USD2.2 billion. Chinese investment accounted for 30% of total FDI investment in Vietnam in 2011. Chinese firms mainly invested in production and processing, construction and infrastructure in Vietnam, but they also pumped a lot of money into M&A … [Read more...] about Chinese firms increasingly active in M&A in Vietnam
Floods, landslides kill six in Northern mountainous region
According to the Central Steering Committee for Natural Disaster Prevention and Control, the natural disaster also collapsed seven houses, inundated 276 hectares of rice, destroyed 25 hectares of agricultural land and damaged four cultural works and schools. In the Northern mountainous province of Lai Chau, more than 1,700 households in three remote communes are temporarily isolated due to prolonged heavy rains. A large crack appears on a hill in the Northern province of Yen Bai after prolonged rain. Heavy rains in the past week caused serious landslides along the roads connecting Khong Lao and Si Lo Lau communes in Phong Tho district, making three communes of Vang Ma Chai, Ma Ly Chai and Si Lo Lau inaccessible. Besides efforts to search for the missing people from Vang Ma Chai commune, the district’s authority is mobilizing all forces including militiamen, police, border soldiers, and defense force and necessary facilities to soon clear the damaged traffic … [Read more...] about Floods, landslides kill six in Northern mountainous region
