Thread: Latest news on the Dong!

Vietnam stocks make smart recovery on economic news



Vietnamese stocks bounced back Wednesday ahead of a six-day holiday on the back of positive news about the economy.

In Ho Chi Minh City, the VN-Index gained 18.36 points to close at 923.89. Hanoi’s HASTC-Index rose by 13.28 points to 332.79.

Turnover in HCMC was VND578 billion (US$36 million), over 25 percent higher than the previous session.

There were 100 gainers and only two losers out of the total 109 stocks.

While many blue chips gained strongly, analysts said the market was dragged down by two heavyweights, VSH and FPT, which respectively remained unchanged and lost 2 percent.

They attributed the smart recovery to good news coming in about the economy.

The Central Institute of Economic Management has forecast that the economy will expand by 8.5 percent this year; the government has said Vietnam is likely to attract foreign investment worth $35 billion this year.

The mutual funds, PRUBF1 and VFMVF1, both gained 1.5 percent to close at VND13,900 and VND33,400.

Foreign investors were net buyers, snapping up shares of blue chips like VNM, GMD, PVD,VSH, and PPC for VND153 billion.

The bourse reopens after the holidays on May 2.

What holidays? And until May 2 they will do....Maybe we'll see a double deep...hehe...

Originally Posted by shotgunsusie

kind of an oxymoronic type of statement isnt it?? i mean speculators cant buy currency unless its for investment. isnt that what speculators buy currency for?? or is that only if you are holding onto it but you cant just buy up a bunch and try to cash out right away to make money?

yeah, that's what I thought-oxymoronic!!! After I read that, I was like-ooops-i just bought some yesterday...to invest-i think?!

Originally Posted by shotgunsusie

maybe already posted but just sent to me...
Forex Blog: Vietnamese Dong Attracts International Attention

No, no...

My interpretation is:
Vietnam kept on devaluing their currency until 2007. Until 2007, the currency was bought for the only purpose of investment into Vietnamese projects ( why would speculators buy anyways VND currency if there was a devaluation process to help the exports - devalued by 30% and that's what they wanted in the end)....Now, in 2007, they stopped the devaluation process, so speculators get in:

From the article:
...."Vietnamese Prime Minister Nguyen Tan Dung loosened currency controls this year and announced plans to increase sales of state-owned assets. The new currency market gives investors more opportunities to bet on an economy that expanded at a 7.7 percent annual rate in the first quarter and may grow 8.3 percent this year, according to the Asian Development Bank."

...I guess this is all this frenzy about the VND starts...

"... The central bank's support coincides with Dung's plans to open the economy.
"
JMO - which usually is wrong ....

DannyDinar posted it in Dinar News:

By the end of this month, the Iraqi parliament is expected to decide on a new oil law. If passed, the legislation will allow Iraq to sign contracts with foreign companies for the exploration and production of the country's vast untapped reserves.
Some energy-hungry countries in Asia - such as China, India, Vietnam and South Korea - are hoping they will be among the first to take advantage of the new law. Iraq, in urgent need of foreign investment, is actively courting countries in the region.

I know a lot of people have been pumping the Dong!! But, I don't think it will rise anytime Soon!

ah ...the tounge -in - cheek, dong jokes never get old.

Originally Posted by Bubba Dinar

I know a lot of people have been pumping the Dong!! But, I don't think it will rise anytime Soon!

Originally Posted by deepfreeze

ah ...the tounge -in - cheek, dong jokes never get old.

Who is pumping the dong??

Originally Posted by Jola

Who is pumping the dong??

i can pump my own dong thank you very much!!

who started the dong will r/v rumor???? alot of dong sold-why????

Originally Posted by lglwzrd

who started the dong will r/v rumor???? alot of dong sold-why????

September of 06 was when this forum started on the Dong on itself. But was speculated before that.

Then The bank of American Thread was Started that they were caring it and everyone knew that Bank of America has stated that they dont exchange currency unless it is Traded Globally and their call operators as well as inside tellers and website started listing the Dong.

What are you getting at lglwzrd?