Vietnam 

VN stocks forecast to move down in August – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The Hồ Chí Minh Stock Exchange in HCM City. — Photo cafef.vn HÀ NỘI — The Vietnamese stock market last week suffered after having rallied for four consecutive weeks amid negative news from the international markets. The downtrend is expected to continue this month while investors are finding it harder to earn profits in the short term. Việt Nam’s benchmark VN-Index on the Hồ Chí Minh Stock Exchange finished last week at 991.10 points, down total 0.22 per cent on a weekly basis. That was the first losing week for…

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Home 

UBS slashes Hong Kong GDP forecast as trade war, protests weigh on city’s economy

UBS dramatically cut its economic growth forecast for Hong Kong, citing uncertainty surrounding the US-China trade war and protests that have disrupted business in the city since June.The Swiss bank slashed its forecast for gross domestic product (GDP) growth to 0.8 per cent from 2.4 per cent for this year.The forecast cut came days after Hong Kong’s GDP growth in the second quarter came in at 0.6 per cent, unchanged from the first quarter and well below the consensus forecast of 1.5 per cent… Source link

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Global 

US-China trade war caused ‘self-inflicted’ damage to the global economy, says IMF after third 2019 forecast cut

China’s trade war with the United States has caused “self-inflicted” damage that has already made global growth “sluggish and precarious” and could create further financial vulnerabilities by depressing both consumer and business sentiment, the International Monetary Fund has warned.The Washington-based organisation revised its 2019 global growth forecast down to 3.2 per cent, 0.1 percentage points below its previous outlook released in January, and the third cut in its forecast for this year… Source link

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Vietnam 

ADB maintains Viet Nam’s 2019 growth forecast at 6.8 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Farm produce from the northern region is introduced at a fair in HCM City yesterday. The fair aims to boost consumption of produce made by co-operatives in northern localities and the Mekong Delta province of Đồng Tháp. VNA/VNS Photo Xuân Anh HÀ NỘI – The Asian Development Bank (ADB) kept its growth projections for Việt Nam at 6.8 per cent for 2019 and 6.7 per cent for 2020 in a report released on Thursday. The predictions in the Asian Development Outlook Supplement are unchanged from the forecasts…

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Vietnam 

FMCG market forecast to grow strongly in the long term – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — The fast moving consumer goods market will remain strong in the long term in the country’s four major cities of Hà Nội, Đà Nẵng, HCM City, and Cần Thơ and see an acceleration in rural areas, according to Kantar Worldpanel, a global data, insights and consulting company. In its latest FMCG monitor report, the company said though oil and electricity prices increased in April the consumer price index remained under control in the first four months, growing at the lowest rate in the last three years. Retail…

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Vietnam 

VN stocks forecast to move forward – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Investors at Bảo Việt Securities Co (BVSC). The Vietnamese stock market is forecast to progress this week following good news from US and Chinese leaders. — VNA/VNS Photo Trần Việt HÀ NỘI — Securities companies are betting Vietnamese shares may expand growth this week as the domestic market could benefit from positive macro-economic signals. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 1.06 per cent on Friday – the strongest rise in two weeks – to end last week at 958.28 points. Friday’s strong increase…

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China 

China’s 2019 economic growth forecast cut by IMF as risks and uncertainties of US trade war remain

China’s 2019 economic growth forecast has been cut from 6.3 per cent to 6.2 per cent by the International Monetary Fund with the world’s second largest economy still facing downside risks and uncertainty over the trade war with the United States.The downgrade came after the fund paid a visit to Beijing and the western province of Guizhou for intensive discussions with Beijing’s policymakers during its annual assessment of the country’s economic and financial health. It was merely two months… Source link

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Vietnam 

Việt Nam forecast to face net imports of crude oil – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Oil rigs on the Bạch  Hổ oil field. Việt Nam’s crude oil production is forecast to continue to drop over the coming years. — VNA/VNS Photo HÀ NỘI — Việt Nam’s self-sufficiency for crude oil could come to an end due to exploitation that could turn the country into a net importer of crude oil for the first time, experts warned. According to analysts from the Fitch Solutions Macro Research, crude oil production in Việt Nam would continue to drop over the coming years, averaging annual declines of 4-5 per cent over the next 10…

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Home 

Bitcoin forecast to rise 22pc to US$9,659 by year-end as investors eye cryptocurrencies amid trade war fuelled equities slump

Bitcoin is expected to rise by 22 per cent from current levels by the end of the year as the launch of new services widen the appeal of the cryptocurrency and investors divert capital amid a slump in stock markets worldwide, a survey of fintech specialists has found.Prices of bitcoin have doubled this year, having risen some 50 per cent this month alone. The cryptocurrency was trading at US$7,972.99 on Tuesday. The Hang Seng Index and the Shanghai Composite Index meanwhile have slumped from… Source link

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Vietnam 

Fisheries exports forecast to pick up after listless first quarter – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Tra fish is processed at Tiền Giang Seafood Export and Import Company. Tra fish exports also posted a lower growth in the first quarter this year, at 8 per cent. — VNA/VNS Photo Minh Trí HÀ NỘI — Fisheries exports could increase by 8 per cent this quarter, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The association said the increase could be achieved if shipments of items like marine fishes, tuna and octopus see strong growth and those of tra fish remain steady. Exports barely…

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