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LienVietPostBank to become first bank to move listing on HoSE this year

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LienVietPostBank has ensured the target of completing listing in 2020 and is ready to take the lead in the switch among commercial banks. — Photo courtesy of the bank

HÀ NỘI — LienVietPostBank will become the first bank to complete the transfer of its LPB shares from the unlisted Public Company Market (UPCoM) to the Hồ Chí Minh Stock Exchange (HoSE) this year, followed by ACB, VIB and SHB.

There will be a series of stock codes registering to change trading floor from UPCoM to HoSE before the effective date of the amended Law on Securities at the beginning of 2021, stemming from the requirement that a listed company must register on the trading system for unlisted securities for at least two years.

It is forecast that the number of enterprises transferring trading floors will increase by the end of the year to comply with the current regulations before the new Law on Securities takes effect.

A representative from LienVietPostBank said thanks to careful preparation and early submission of the application, the bank’s documents were approved in principle by HoSE. The progress of listing LPB shares will be one to two months earlier than other banks. LienVietPostBank has ensured the target of completing the listing in 2020 and is ready to take the lead in the switch among commercial banks.

The listing of LPB shares on HoSE would not only contribute to enhancing the bank’s image and brand identity, but also aim at improving investor relations and  communication. It would make LPB shares an effective capital mobilisation channel for future growth goals, and bring the shares into the portfolio of ETFs on the stock market.

LPB stock trading is much more active with an average of tens of million shares per session. There was a record trading session with nearly 17 million shares matched, and a total trading value of over VNĐ183 billion (US$7.9 million). LPB’s stock price was also improved significantly when it was traded at VNĐ11,600 per share, the highest in many months. —

Source: https://vietnamnews.vn/economy/793012/lienvietpostbank-to-become-first-bank-to-move-listing-on-hose-this-year.html

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VN-Index rises to year’s record high

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An employee of a local securities firm monitors stock movements – PHOTO: THANH HOA

HCMC – The strong cash flow helped the VN-Index of the Hochiminh Stock Exchange maintain growth momentum today, November 27, and reach 1,010.22 points, the highest since the beginning of this year.

With winners outnumbering losers by 251 to 167, the main index added 4.25 points, or 0.42%, from the session earlier. The southern market saw 446.44 million shares worth VND9.87 trillion changing hands, declining by 9.54% in volume and 4.12% in value compared with the previous session. Some 64.71 million shares worth over VND1.92 trillion were traded in block deals.

One of the biggest gainers was lender HDB, which shot up to the ceiling price at VND21,450, after it closed the shareholder list to pay cash dividend. Construction material producer CVT also shot up to the ceiling price at VND51,500 for the ninth straight session.

Other major contributors were steelmaker HPG, lender MBB and mobile phone retailer MWG, soaring by 3.28% to VND36,250, 2.56% to VND20,000 and 2.4% to VND115,500, respectively.

Petroleum stock GAS, lender VCB and property firm VHM reversed course to increase slightly.

Only a few bluechips such as lender BID, retailer VRE, brewery SAB and dairy producer VNM lost ground, but by less than 1%.

Electricity firm POW surged by 3.7% to VND10,250 and took the lead on the southern bourse with over 19.54 million shares transacted.

While the VN-Index continued to fly high, the HNX-Index of the Hanoi Stock Exchange lost 0.15%, or 0.23 point against the previous session, to close the day at 148.17 points, with 82 winning stocks and 72 losing ones. There were 50.96 million shares worth VND740.82 billion traded on the northern bourse.

Bank stocks performed poorly, with ACB, NVB and SHB falling by 0.73% to VND27,200, 1.17% to VND8,400 and 0.6% to VND17,000, respectively.

Other large-cap stocks that ended in the red included PVS, PVB, CEO, VCS and TNG.

Speculative stock ART led the northern market by liquidity with 6.32 million shares changing hands. Lender ACB came second with 5.46 million shares traded.

Source: https://english.thesaigontimes.vn/79579/vn-index-rises-to-year%e2%80%99s-record-high.html

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Apple fans queue overnight to get hands on new iPhone 12 in Saigon

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There were long queues outside cellphone stores in Ho Chi Minh City late on Thursday night as Apple fans could not wait for the official launch of the iPhone 12 in Vietnam.

Apple started distributing the products to the Vietnamese market from 0:00 on Friday.

On this occasion, its authorized dealers in Ho Chi Minh City organized several interesting open sales events from 10:00 pm on Thursday.

Retailer Di Dong Viet welcomed customers to pick up their re-ordered iPhone 12s at a cinema on Tran Quang Khai Street in District 1 at 9:00 pm.

The event was also attended by famous Vietnamese artists and technology influencers.

A representative of retailer Di dong Viet speaks at its iPhone 12 launching event at a cinema on Tran Quang Khai Street in District 1, Ho Chi Minh City, November 26, 2020. Photo: Duc Thien / Tuoi Tre

A representative of retailer Di Dong Viet speaks at its iPhone 12 launch event at a cinema on Tran Quang Khai Street in District 1, Ho Chi Minh City, November 26, 2020. Photo: Duc Thien / Tuoi Tre

On the same street, hundreds of people queued in front of Minh Tuan Mobile Store to get their hands on the new iPhones.

The same busy spree was also found at the retail system of FPT Shop and F.Studio, two members of the leading Vietnamese telecoms firm FPT Corp, the PetroVietnam building, where an outlet of Shopdunk – a partner of the Apple authorized reseller PETROSETCO – is located, and the CellphoneS store on Nguyen Thai Hoc Street.

People attend a talk show at a CellphoneS store in Ho Chi Minh City before the official launch of iPhone 12, November 26, 2020. Photo: Duc Thien / Tuoi Tre

People attend a talk at a CellphoneS store in Ho Chi Minh City before the official launch of the iPhone 12, November 26, 2020. Photo: Duc Thien / Tuoi Tre

Tran Long, a customer at Minh Tuan Mobile Store, said that the new iPhone 12s were launched at more competitive prices than previous versions and even with sooner delivery.           

“I’m really excited to be one of the first customers in Vietnam to own an authentic iPhone 12,” Long said.

Vietnamese actor Huy Khanh (right) unboxes his new iPhone 12 at Minh Tuan Mobile store in Ho Chi Minh City, November 27, 2020. Photo: Duc Thien / Tuoi Tre

Vietnamese actor Huy Khanh (right) unboxes his new iPhone 12 at Minh Tuan Mobile Store in Ho Chi Minh City, November 27, 2020. Photo: Duc Thien / Tuoi Tre

Apple Inc. officially distributed the iPhone 12 and iPhone 12 Pro in some key markets, excluding Vietnam, on October 23.

The other two models – iPhone 12 Mini and iPhone 12 Pro Max – have been available from November 13.

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Source: https://tuoitrenews.vn/news/business/20201127/apple-fans-queue-overnight-to-get-hands-on-new-iphone-12-in-saigon/57994.html

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Vietnam among most resilient economies in Covid-19

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Vietnam is listed among only five countries on the rankings that are expected to enjoy economic growth in 2020.

Vietnam ranks 10th among the 53 most resilient economies in the Covid-19 pandemic, according to Bloomberg’s Covid-19 Resilience Ranking released Tuesday.

Vietnam among most resilient economies in Covid-19
 Vietnam ranks 10th out of 53 economies in Covid-19. Source: Bloomberg

Vietnam recorded 74.3 scores out of 100, above some regional peers namely Singapore with 74.2, Thailand 70.2, Indonesia 66.1, Malaysia 61.4, and the Philippines 48.9.

The Covid-19 Resilience Ranking ranks economies of more than US$200 billion on 10 key metrics, including growth in virus cases, the overall mortality rate, testing capabilities and the forged vaccine supply agreements.

The capacity of the local health-care system, the impact of virus-related restrictions like lockdowns on the economy, and citizens’ freedom of movement are also taken into account.

Bloomberg said the result is an overall score that’s a snapshot of how the pandemic is playing out in these 53 places right now, adding that the ranking will change as countries switch up their strategies, the weather shifts, and other reasons.

Vietnam among most resilient economies in Covid-19
Only five economies on the Ranking are expected to grow in 2020. Source: IMF

Vietnam posted zero (0) in terms of one-month case per 100,000 people, one-month case fatality rate, and total deaths per one million. Meanwhile, its positive test rate is 0.1%.

Regarding economic growth, Bloomberg said Vietnam’s low-cost manufacturing sectors have propped up growth in those places as the wider slowdown fueled Western consumers’ demand for cheaper goods.

The International Monetary Fund (IMF) forecast Vietnam’s GDP growth for 2020 is at 1.6%. The country posted a decade-high growth rate of 7.08% in 2018 and 7.02% in 2019.

Vietnam, a country of 97 million people, has confirmed 1,321 cases and 35 deaths, and has undergone 85 days without locally-transmitted infections.  Hanoitimes

Linh Pham

Source: https://vietnamnet.vn/en/business/vietnam-among-most-resilient-economies-in-covid-19-692982.html

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