The HOSE was hit hard today by a huge sell-off which saw the VN-Index drop 46.21 points or 4.19 percent, according to HOSE data. A lot of the sell off was confined to domestic traders with foreign firms net selling just VND 99 billion or US$4 million. Foreign investor trades

Banks deposits in Vietnam highest ever in latest State Bank data

the-shiv October 26, 2023

Total funds in savings accounts at Vietnamese banks topped VND 12.4 million billion or US$504 billion in August, according to State Bank of Vietnam data and reported by Tuoi Tre. This is reportedly the highest bank deposits have ever reached and is in spite of record low savings interest rates.

Vietnam interbank interest rates hit four-month high of 2.22 percent

the-shiv October 26, 2023

The overnight interbank interest rate in Vietnam hit 2.22 percent on Monday (three days ago), the highest it has been in four months, Doanh Nhan Vietnam reported today. The publication is saying that this signals that the excess liquidity problem may have improved and suggests this is a result of

Taiwanese auto-parts maker to build new factory in northern Vietnam

the-shiv October 26, 2023

Taiwan’s Waffer Technology wants to build a US$50.9 million plant in northern Vietnam’s Hai Duong province, The Investor is reporting. Wafer Technolgy intends to use the plant to make up to 10 million car parts and repair machines for export to the US and the EU.

Chinese solar cell maker to build new factory in northern Vietnam

the-shiv October 26, 2023

China’s Boway intends to build a 20-hectare, US$114 million solar cell factory in northern Vietnam’s Hai Duong province, The investor is reporting. This is part of a number of major investments in its manufacturing operations across northern Vietnam. All-up it reportedly has plans to invest US$350 million Hai Dunong alone.

Chinese solar factory starts operating in northern Vietnam

the-shiv October 26, 2023

China’s Jingko Solar has started operating a new US$709 million factory in Vietnam’s northern province of Quang Ninh, The Investor is reporting. The new 31.3-hectare factory is expected to employ 4,500 workers when fully operational and generate revenue of US$4.07 billion annually.

NA delegates push to deregulate Vietnam’s gold market as prices soar

the-shiv October 26, 2023

The State Bank of Vietnam’s (SBV) monopoly over the import and export of gold bars has come under scrutiny at the National Assembly as the gap between domestic and world gold prices has widened, VN Express is reporting. Domestic gold prices of late have typically been US$500 to US$600 higher

Ho Chi Minh City Stock Exchange (HOSE) could see ‘frontier’ to ‘emerging’ upgrade by 2025

the-shiv October 26, 2023

Vietnam may allow HOSE brokers to vouch for foreign investors rather than waiting for confirmation funds are available to settle stock market transactions, Reuters is reporting. This delay in settlement on the grounds of confirmation of funds is one of two key hurdles the HOSE needs to fix before it