Chuck Kuhn's Asia in Photos: Local Stock market continues to climb

Monday, March 31, 2008

Local Stock market continues to climb

Both bourses continued to see most stocks rise to the ceiling prices on March 31, a trend that started when the new trading bands of 1 percent and 2 percent were applied, respectively, in Ho Chi Minh City and Hanoi, on March 27.

Buying orders dominated the electric boards while supply was modest, resulting in drops in both trading volume and value.

By closing, the VN-Index at the Ho Chi Minh City Stock Exchange (HoSE) added 4.15 points or 0.81 percent to end the session at 516.85 points.

A total of 2.1 million shares worth 120 billion VND changed hands during the session.

The HaSTC-Index on the Hanoi bourse rose 2.85 points or 1.60 percent to finish at 181.43 points.

The market saw more than 693,000 shares traded for a total of 29 billion VND.

Experts said the small trading band helps keep up the market and they were worried that the market will reverse if the band is widened too soon, due to investors’ unstable psychology and the lack of supportive information.

Japan provides soft loans to Vietnam’s infrastructure projects

Japan has pledged to provide preferential loans of up to 945 million USD (94 billion JPY) to Vietnam’s infrastructure development projects in the 2007 fiscal year.

Japanese official development assistance (ODA) loan agreements were signed in Tokyo on March 31 by Vietnamese Deputy Finance Minister Truong Chi Trung and Governor of Japan Bank for International Cooperation (JBIC) Koji Tanami.

The loans will go towards construction of the Hanoi city urban railway (Line 1), the Hanoi city rising road No.3 and the North-South expressway (Ho Chi Minh City-Dau Giay).

more info ->VietNamNet - BUSINESS IN BRIEF 31/3

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They say "

“I can’t say what made me fall in love with Vietnam - that a woman’s voice can drug you; that everything is so intense. The colors, the taste, even the rain. Nothing like the filthy rain in London. They say whatever you’re looking for, you will find here. They say you come to Vietnam and you understand a lot in a few minutes, but the rest has got to be lived. The smell: that’s the first thing that hits you, promising everything in exchange for your soul. And the heat. Your shirt is straightaway a rag. You can hardly remember your name, or what you came to escape from. But at night, there’s a breeze. The river is beautiful. You could be forgiven for thinking there was no war; that the gunshots were fireworks; that only pleasure matters. A pipe of opium, or the touch of a girl who might tell you she loves you. And then, something happens, as you knew it would. And nothing can ever be the same again.”
― Graham Greene, The Quiet American

Tips on Travel to Vietnam

It's always warm in Southeast Asia apart from high mountains, so leave the heavy clothing at home. Cotton and breathable fabrics are always better than synthetics -- although cotton does wrinkle a lot when traveling! December through April is roughly the dry season in that region, although it can still rain a little. December is a good time to go in terms of temperature -- cooler than in the humid summertime. Either way, wearing more clothing (shirt sleeves and long pants) is always more respectful towards the Asian culture, especially when visiting temples and rural areas.