Brief on A Glance Inside Vietnam

National conference on Party building work opens

A national conference on applying the Resolution from the Communist Party of Vietnam Central Committee (CPVCC)’s 4th session on urgent issues in Party building opened up in Hanoi on February. 27. 

The big event was chaired by Party General Secretary Nguyen Phu Trong, Leader Truong Tan Sang, Pm Nguyen Tan Dung, National Set up Chairman Nguyen Sinh Hung and permanent person in the CPVCC Secretariat Le Hong Anh.

Altering rural people’s behavior on safe water

A communication campaign to advertise using safe water and environment sanitation was examined in a seminar in Hanoi on February. 27.

The seminar was collectively held through the Secretary of state for Agriculture and Rural Development, UNICEF and Lien Aid, a non-governmental organisation of Singapore.

VN, Colombia to cooperate in lots of fields

Vietnam and Colombia have expressed a need to promote cooperation in politics, diplomacy, trade, gas and oil, culture, education, tourism and poverty reduction soon. 

In the talks with Colombian Foreign Minister Maria Angela Holguin in Hanoi on February. 27, FM Pham Binh Minh spoke highly of Colombia’s proposal of creating a mechanism and legal framework for that two countries’ relations.

Industrial production slows to 3.9 percent

The nation's industrial production rate of growth decreased to simply 3.9 percent within the first couple of several weeks of the season against 12.3 percent this year because of economic downturn, based on the General Statistics Office.

The GSO confirmed the industrial sector continues to be facing difficulties available on the market as well as in production.

Feb sees rise in overseas site visitors

Vietnam was the place to go for 681,000 overseas vacationers in Feb, up 8.2 percent in the previous month along with a year-on-year increase of 29.4 percent, reported the Vietnam National Administration of Tourism (VNAT) on February. 27.

Based on VNAT’s statistics, within the first couple of several weeks of 2012, Vietnam welcomed 1.3 million people from other countries, annually-on-year increase of 27.1 percent.

PM demands inspection of fire prevention work

The Pm on February. 27 requested all relevant Government departments to begin a countrywide inspection of fire prevention operate in high-rise structures, commercial centres, schools, kindergartens along with other high-risk locations.

Bangkok hosts conference on cooperatives

A Vietnamese delegation headed through the Deputy Minister of Agriculture and Rural Development Nguyen Dang Khoa is attending the ninth Asia-Off-shore Cooperative Ministers’ Conference in Bangkok from February. 27-29.

 

Source: A Look Inside Vietnam

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Market slightly drops back

The local market broke the 13-day rising streak with a mild losing session on Wednesday while liquidity rose to the highest level over the past month on strong profit taking. The VN-Index lost 2.41 points, or 0.51%, from the day earlier to close at 466.99.

The market opened higher and quickly moved up to the daily high of 475.45 before dropping back in several stages. It fell into the red from the end of the second session before staging a short-lived recovery and finally closing at above the daily low.

On the southern bourse, there were 81.4 million shares worth nearly VND1.3 trillion traded at the end of the day, rising 19% and 8% against the previous day respectively. Bids fell a mild 6.7% to around 120 million shares while offers soared 37.5% from the day earlier to 117.4 million shares.

Losers slightly outnumbered gainers by 138 to 107, of which 50 stocks shot up to the ceiling prices and 40 stocks dropped to the floor prices. Blue-chips were mostly lower across the board albeit with some exceptions such as MSN, BVH and VCF.

Sacom Development and Investment Corp. (SAM) was the most traded stock for liquidity, inching up 1.3% against the previous day to VND7,400 per share with 4.3 million shares traded. PetroVietnam Transportation Corp. (PVT), the second biggest traded stock, gained 1.9% to VND5,300 on the volume of 2.8 million shares.

Foreigners once again increased net selling. They acquired 6.4 million shares worth VND202.7 billion and offloaded 11.1 million shares worth VND325.4 billion, making up 15.7% and 25.2% of the market’s buying and selling value respectively.

The Hanoi market fell back on Wednesday although turnover improved to over VND1 trillion. The HNX-Index fell 1.92 points, or 2.42%, against the previous session and ended the day at 77.33.

Advancers and decliners were almost equal at 164 to 145, including 49 stocks going to the ceiling prices and 12 stocks dropping to the floor. Foreigners were slight net sellers again, accounting for 1.1% of the buying value and 2% of the selling value.

Viet Dragon Securities Co. in its daily comment said profit taking surged strongly on the two bourses while buyers turned cautious again on Wednesday. Furthermore, the broker noted another negative sign as foreigners maintained heavy net selling for three sessions in a row.

There were around 1.6 billion shares worth VND20 trillion changing hands on the two markets since the lowest level in August, putting a huge volume of shares under heavy selling pressure given no new supporting information. However, the VN-Index would enjoy positive news from low CPI (consumer price index) in September. It might continue correcting and then hover around 440 points, the broker predicted.

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