Starting November 2, foreign investors will no longer be required to pre-fund 100% of their transactions, promising the removal of a major roadblock for Vietnam's market upgrade process.
Strong attention from investors helped boost banks stocks’ value, but those of petroleum companies were the highlight of this morning trading session with many reached the ceiling, namely PVB, PVC, PVD, PVS, PVT, or PXS.
Banking sector is set to post a strong growth of 21-28% year-on-year in pre-tax profit in 2021, subsequently leading to higher value of banks stocks.
It seems a call from the central bank for credit institutions to forego their profits in 2020 to aid customers and businesses affected by the pandemic have not been effectively implemented.
Given a large gap between domestic and international gold prices, it would be high risks for investors to bet their money on gold at the moment, said an expert.
Cement, petroleum and retail stocks are those that could see strong rises in 2021.
Customers are urged to stay cautious against rampant scam and fraud activities ahead of Tet holidays.
Compared to the same period of last year, liquidity surged a whooping of 291.04% in transaction volume and 334% in value.
A low budget revenue in January is due to the fact that the economy is currently struggling with the ongoing Covid-19 outbreak.
Relevant agencies are required to strengthen inspection, detect and strictly handle violations in foreign/cash exchange trading, according to the State Bank of Vietnam.
Market capitalization on the HoSE, home to majorly large-caps, dropped around US$11.78 billion.
Local authorities should enhance supervision activities of market situation for timely intervention, which is in line with market-based principles and the goal of stabilizing macro-economic conditions.
Strong currency inflows from trade surpluses and FDI will support the VND, while an adequate foreign reserve position will also allow the central bank to ease off its foreign currency purchases over the near term.
A stable macro-economic environment is essential for Vietnam to ensure economic independence and boost its resilience against external shocks.
To address the overheated local corporate bond market, the MoF has proposed revising existing laws to differentiate between public offering and private placement for corporate bonds in terms of target buyers.
Efficient debt management will be a major factor helping Vietnam get out of the group of highly indebted countries, a representative of the Ministry of Finance stated.
As the government looks to push for public investment and the central bank keeps a low interest rate environment to aid economic growth, banks are expected to be the first beneficiaries from an economic rebound.
The launch of chip-embedded credit and ATM cards partly contributes to ensuring greater payment security and promoting non-cash payment methods.
F0 investors put their money in stocks they barely know of but were recommended by others, so they become vulnerable when things go wrong and do not know what to do, said an expert.
A framework agreement signed between the two countries has taken bilateral relations to a new level, Finland’s Ambassador to Vietnam Kari Kahiluoto has said.
Real estate sales will be another key driver of credit growth, as apartment supply and sales are likely to pick up in 2021.
