Viet Nam News HÀ NỘI — Massive selling pressure hit many large-caps, drowning the market, making VN-Index become the biggest loser index in Asia on Tuesday session. The benchmark VN Index on HCM Stock Exchange plummeted 4.34 per cent to close at 906.01 points, extending its decline from the previous fall of 1.42 per cent. The HNX Index on Ha Noi Stock Exchange lost 3.86 per cent to end at 98.80 points. It had decreased by 3.21 per cent in the previous session. Some 222.1 million shares, worth VND5.1 trillion (US$223 million), were traded on the two local exchanges. The number of declining stocks tripled that of gainers by 373 to 106, indicating a temporary negativity of the market condition. The capital outflow resulted in 18 of the 20 sectors seeing share prices drop, according to vietstock.vn, including large-cap stocks in the VN30 basket. The large-cap VN30 Index fell 4.10 per cent to 891.97 points at the end of the day with 29 of the 30 largest stocks by … [Read more...] about VN market worst performer in Asia
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North Korea released three American prisoners and handed them over to U.S. Secretary of State Mike Pompeo on Wednesday, clearing a major obstacle to an unprecedented summit between President Donald Trump and North Korean leader Kim Jong Un. The men, who were freed after Pompeo met Kim, were on their way home aboard the chief U.S. diplomat’s plane, and Trump said he would greet them when they arrived at Andrews Air Force Base outside Washington on Thursday morning. “We would like to express our deep appreciation to the United States government, President Trump, Secretary Pompeo, and the people of the United States for bringing us home,” the three said in a statement released by the State Department as their plane stopped over in Alaska. “We thank God, and all our families and friends who prayed for us and for our return. God Bless America, the greatest nation in the world.” The release, praised by the White House as a “gesture of goodwill,” … [Read more...] about Three Americans freed by North Korea head home, thank Trump
African nations have been turning to Vietnam as the business environment in China becomes increasingly more difficult. African businesses started flooding to Guangzhou City after China joined the World Trade Organization in 2001, the South China Morning Post said on Monday. Migration from Africa has risen as China "has stepped up its diplomatic links and investments with the continent," the newspaper explained. In 2009, local media put the African population in Guangzhou at 100,000, including those who had overstayed their visas, it said. Guangzhou draws merchants who come to buy goods such as jewelry and electronics in bulk, which they ship back to their homelands, according to AFP. A part of the city has even been given the name "Little Africa." But things have changed. The city’s African population had dropped to 10,344 in February last year, the South China Morning Post cited the municipal bureau of public security as saying, though Liang Yucheng, a professor of social … [Read more...] about Rising costs in China make African entrepreneurs look to Vietnam
Washington and Beijing are going toe-to-toe in a trade spat, and Vietnam is set to become embroiled in the conflict, for better or for worse. The row is likely to deal a blow to export-reliant Vietnam, as its overseas shipments form part of China’s value chain. “If the U.S imposes high tariffs on China’s broader cross-border supply chain, Vietnam, which exports goods that serve as inputs for China’s exports, will be badly hit,” said economist Le Dang Doanh. It’s unclear whether Washington will tax Chinese firms alone or their wider supply networks. About 2.2 percent of Vietnam’ shipments abroad are part of China’s value chain, Bloomberg quoted date from RHB Bank Bhd as saying. Sharing the same opinion, Steven Schwartz, senior director of sovereign ratings for Asia at Fitch Ratings, said South Korea, Taiwan, Vietnam and Malaysia, all of which export goods – such as machine parts and components for communications equipment … [Read more...] about What does Vietnam have to lose or gain from US-China trade war?
In 2016 and the first half of 2017, Vietnam has seen a series of multimillion dollar mergers and acquisitions (M&A) deals. Here is the list of Vietnam’s top merger and acquisition deals (The List 50) announced at this morning press conference organised by VIR and AVM Vietnam. Outstanding merger deals 1. TTC and Bien Hoa Sugar Thanh Thanh Cong Tay Ninh Sugar JSC (TTCS) will make a share swap to fully acquire Bien Hoa Sugar Joint Stock Company (JSC) in order to become the biggest sugar producer in Vietnam. TTCS will issue nearly 304 million shares to convert all outstanding shares of Bien Hoa Sugar at a ratio of 1:1.02. The conversion ratio was calculated by a third-party company that valued the shares of TTCS and Bien Hoa Sugar at VND20,944 ($0.92) and VND21,356 ($0.94), respectively. The deal will be carried out within 90 days (plus extensions if needed), starting from the day TTCS receives the permit from the … [Read more...] about List of the largest M&A deals in Vietnam in 2016-2017