Vietnam Business News

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• Dec 22: Vietnam stocks plunge on mounting pessimism
• SBV gold policy fails to restore market: expert
• BIDV to make IPO soon, individual investors seem not interested
• Gold bar premiums in Asia rose from last week
• Vietnam to see further decline in home prices: report  
• Dec 21: Vietnam stocks gain despite high consumer price index
• U.S. gold inched down 0.1 percent to $1,611.80
• Platinum appears to have stabilized above the $1,400 an ounce level
• What is the biggest influence on gold prices right now?
• Why silver, gold, platinum looks bullish in 2012

Dec 22: Vietnam stocks plunge on mounting pessimism Posted: 22 Dec 2011 01:04 AM PST Vietnam stocks plunged today December 22 as the local investors sold risk assets amid signs of rising inflation. The sell-side offloaded shares the opening to the close as they felt risks after major cities reported a strong leap in consumer prices in December and the sole power supply hiked electricity prices. Closing the trading session [...]

SBV gold policy fails to restore market: expert Posted: 22 Dec 2011 01:02 AM PST A policy tentatively set up by the State Bank of Vietnam to regulate the local gold market has not paid off, as locals still have to buy the precious metal at some 3 million dong per tael higher than the global price, an expert said. Nguyen The Hung, general director of Vietnam Gold Investment and [...]

BIDV to make IPO soon, individual investors seem not interested Posted: 22 Dec 2011 01:02 AM PST As planned, in December, Bank for Investment and Development of Vietnam (BIDV) will make IPO (initial public offering) with about 22% of its chartered capital. Of which, BIDV will auction 3% (nearly 85 million shares) to the public, 1% of preferential shares for staff, 3% for BIDV’s labor union and 15% remaining will be offered [...]

Gold bar premiums in Asia rose from last week Posted: 22 Dec 2011 01:00 AM PST Last week’s price drop has stimulated demand from Europe and the Middle East and Asia with GoldCore and other dealers confirming still robust demand and little or no selling of bullion. Gold bar premiums in Singapore and Hong Kong rose from last week, as demand is expected to increase during the upcoming Chinese New Year [...]

Vietnam to see further decline in home prices: report   Posted: 22 Dec 2011 12:55 AM PST The housing markets in both Hanoi and Ho Chi Minh City will continue to see price falls in 2012 as cities across Asia-Pacific are expected to have weaker sales volumes, according to global property consultant Knight Frank. Residential prices in the two Vietnamese cities will fall by 5 to 10 percent next year, after an [...]

Dec 21: Vietnam stocks gain despite high consumer price index Posted: 22 Dec 2011 12:55 AM PST Vietnam stocks gained ground today December 21 even though consumer price indexes announced by two big cities Hanoi and HCM City rose along with concerns on new power price hike. The investor pessimism overshadowed the market though many traders started bottom-fishing strategy. The buy-side nonetheless reacted prudentially to the rally as the market lacked a [...]

U.S. gold inched down 0.1 percent to $1,611.80 Posted: 22 Dec 2011 12:30 AM PST Gold prices inched down in thin trade on Thursday as investors remained skeptical of the euro zone’s ability to tackle its debt crisis after the European Central Bank’s latest moves to keep credit flowing in the region. Banks gobbled up nearly 490 billion euros in three-year cut-price loans from the ECB, easing immediate fears of [...]

Platinum appears to have stabilized above the $1,400 an ounce level Posted: 22 Dec 2011 12:04 AM PST Platinum appears to have stabilized above the $1,400 an ounce level for now. Weakness for the metal mainly came from selling by speculative financial investors, according to market positioning statistics, said Commerzbank in a research note. Commerzbank noted that money managers in the CFTC data cut their net long positions in the week to Dec. 13 [...]

What is the biggest influence on gold prices right now? Posted: 21 Dec 2011 11:57 PM PST In this exclusive interview with Jason Reid, President ofGold Resource Corp. (GORO), he discuss where the company is headed at a time of peak gold prices and what is the biggest influence on gold prices right now. Colorado-based Gold Resource went public in the fall of 2006 and today has a market capitalization of more than [...]

Why silver, gold, platinum looks bullish in 2012 Posted: 21 Dec 2011 11:47 PM PST Silver and Gold will likely suffer a setback this month but eventually prices may be hitting $34 and $2,000/oz respectively in 2012. Meanwhile, Platinum is likely to touch 1500/oz, said a report from Bank of America Merrill Lynch (BofAML). Given the deteriorating outlook for global growth, BofAML is cautious on adding commodity risk. However, an upcoming recession in Europe [...]

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