Vietnam Business News

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• April 1: Vietnam stocks rise, VN Index closes above 500 first time this year
• April 1: UPCoM-Index rises following official bourses
• April 1: Foreigners net buy on HSX, sell on HNX
• Automobile market heats up with competition in pick-up segment
• Threat of power crisis slowly lifts
• Petrol companies accused of profiteering from price stabilisation fund
• Manufacturing picks up in March
• Gloomy prospects for rice exports
• Over 1000 tons of sugar imported illegally to Vietnam everyday
• State Bank’s gold unsalable

April 1: Vietnam stocks rise, VN Index closes above 500 first time this year Posted: 01 Apr 2013 03:46 AM PDT Vietnamese stocks rose today with rising liquidity, VN Index closed over 500 threshold for the first time in multi-months led by blue chips. The benchmark VN Index rose 14.77 point or 3.01% to 505.81. Volume rose 42.16% to 55.43 million shares worth of VND1.171 trillion. Put through trading contributed 8.3 million shares worth of VN362.31 [...]

April 1: UPCoM-Index rises following official bourses Posted: 01 Apr 2013 03:46 AM PDT The UPCoM-Index, the measure of 135 unlisted public companies ended higher today. The index rose 0.07 point or 0.17% to 42.02. The market volume was 247,000 shares worth of VND2.5 billion. Market breadth was positive with 15 gainers, 9 losers, 2 unmoved and the rest untraded. DDN was the biggest gainer, climbing 10% to finish [...]

April 1: Foreigners net buy on HSX, sell on HNX Posted: 01 Apr 2013 03:46 AM PDT Foreigners were net buyers of Vietnamese shares on the Hochiminh Stock Exchange but turned to net sell on the HNX. These players net bought VND13.84 billion worth of shares on HOSE after buying 3.73 million shares for VND103.79 billion and selling 3.56 million units for VND89.95 billion, accounting for 8.86% buying value and 7.68% selling [...]

Automobile market heats up with competition in pick-up segment Posted: 01 Apr 2013 03:41 AM PDT Analysts have noted the rapid increase in the sales of pick-ups recently and predicted the sharper increase in the near future in the context of the higher sedan ownership registration tax. Vietnam's pick up market remains very small with the sales just equal to one percent of the Thai market. However, the market has heated [...]

Threat of power crisis slowly lifts Posted: 01 Apr 2013 03:41 AM PDT A steady flow of electricity from new energy projects should ensure that Vietnam avoids the power shortages that often bedeviled business operations last year. Tran Khac Thi, vice head of Electricity of Vietnam's (EVN) Planning Section, offered this assurance during a meeting between the Ministry of Planning and Investment and representatives from ministries and localities [...]

Petrol companies accused of profiteering from price stabilisation fund Posted: 01 Apr 2013 03:41 AM PDT The Ministry of Finance (MoF) and the Ministry of Industry and Trade have allowed petrol prices to increase by VND1,430 per litre (USD0.07) because the price stabilisation fund is exhausted. The price for diesel fuel has also increased by VND362 per litre. In addition, kerosene has risen VND480 and mazut by VND807 per litre. “The [...]

Manufacturing picks up in March Posted: 01 Apr 2013 03:36 AM PDT Vietnam's manufacturing sector bounced back in March, with its Purchase Managers' Index (PMI) rising above the neutral 50.0 mark, posting a 23-month high of 50.8. Although the growth rate was only moderate, it was nonetheless the second-highest in the two-year series history, HSBC says in its Manufacturing PMI report. March data pointed to modest recoveries [...]

Gloomy prospects for rice exports Posted: 01 Apr 2013 03:33 AM PDT Vietnam's rice exports may not make a good profit this year due to tough competition from Thailand and India, according to the Vietnam Food Association (VFA). Vietnam has signed contracts to export 3.5 million tonnes of rice by the end of this month, up 20 percent against the same period last year. However, from January [...]

Over 1000 tons of sugar imported illegally to Vietnam everyday Posted: 01 Apr 2013 03:33 AM PDT Nguyen Thanh Long, chairman of Vietnam Sugar Association told local media on March 30 that everyday, over 1,000 tons of sugar are imported illegally into Vietnam through An Giang border gate. Long thinks illegal sugar import conditions are very hot and which is organized, the situation has been happened for years and expanding in means [...]

State Bank’s gold unsalable Posted: 01 Apr 2013 03:30 AM PDT Contrary to all predictions, the State could not sell gold at the auction held on March 28, 2013. It was because the gold became too expensive after going through the State Bank's hands. Only two investors bought 2,000 taels at the auction on March 28. The sale price was VND400,000 per tael higher than the [...]

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