TLS Recommends to Sell VCG, Targets Share Price at VND 33,419
Thang Long Securities (TLS), Vietnams biggest broker, on May 13 recommended investors to sell Vinaconex (VCG) on the stock overvaluation, targeting the price at VND33,419. Thang Long Securities (TLS), Vietnams biggest broker, on May 13 recommended investors to sell Vinaconex (VCG) on the stock overvaluation, targeting the price at VND33,419.
Vietnam Stock Market Tips: Buy Into Dips
VN Index had another plunge as the bear aggressively sold shares on lack of supportive news, however, the liquidity rose indicating that more buyers were willing to bottom fish. It may take one or two days for VN Index to bounce back but brokers say it is now a good time to enter.
VGP: Result of Transaction of Principal Shareholder
The Vegetexco Port Joint Stock Company announces the trading result of principal shareholder.
Vietnam Buys $1 Billion, Plans to Keep Dong Stable
The central bank is seeking to bolster market confidence after the benchmark VN Index of shares dropped 6% in a five-day drop, as Europes debt crisis prompted investors to spurn developing-nation assets. Policy makers have devalued the dong twice in the past six months, narrowing the gap between the official and black-market rates from as much as 12%.
Gold Trade Surges as Prices up
Saigon Jewelry Holding Co. (SJC) in HCMC announced at 3:50 p.m. that gold had leapt to VND27.46 million and VND27.53 million per tael for buying and selling respectively. A tael equals 1.2 troy ounces. Meanwhile, gold prices for buying and selling at Sacombank Jewelry Co., also in the city, were VND27.46 million and VND27.5 million respectively.
Central Bank Ordered to Cut Borrowing Costs
In a resolution issued late last week, the Government set a target of lending interest rates of no higher than 12% and deposit interest rates of no more than 10%.