1. Financial market News
VN-Index slips after two gaining sessions on Friday
The VN-Index fell 0.55 percent to 872.02 points Friday, with blue chips of Vietnam’s largest private conglomerate Vingroup a drag on the market. The benchmark VN-Index had plunged over 4 points from its opening 876.83 points within the first 30 minutes of trading, and hovered around that level for the rest of the day. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 190 stocks in the red and 162 in the green, with none fluctuating to either floor or ceiling price. Total trading volume improved marginally over the previous period, reaching VND4.8 trillion ($207.13 million), but remained far below last month’s VND6.67 trillion ($287.6 million) average. The VN30-Index for the stock market’s 30 largest caps dropped 0.69 percent, with 20 tickers losing and 7 gaining.
Detailed information here.
2. Banking news
Import and export enterprises feel secure about exchange rates
Despite the continuous fluctuations of global financial markets and currencies due to the impact of the Covid-19 pandemic and tensions in US-China relations, the domestic exchange rate in the first months of the year maintained the stability. That was a favourable premise for businesses to be assured to resume import-export activities after months of being affected by Covid-19.
Detailed information here.
3. International finance News
U.S. economy faces significant risks, long road to recovery: IMF staff
The U.S. economy is forecast to shrink by 6.6% in 2020 due to the shock of the coronavirus pandemic, but a resurgence in coronavirus infections and a systemic increase in poverty could worsen that outlook, the staff of the International Monetary Fund warned on Friday.
Detailed information here.