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Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
Singapore:
India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
Indonesia:
Central Bank Chief Of Indonesia Detained
Malaysia:
Malaysia economy grows and banking liberalises
In Vietnam, it seems that everyone is an investor
by Elaine FreiParticipation in Vietnam’s stock market is reaching epic proportions as just about anyone with the extra cash to buy stocks is doing so in an effort to cash in on the market’s gains. The country’s main stock index has risen by 249 percent in just over a year. But investors are buying unlisted shares, as the formal exchange, with 107 companies currently listed, has largely remained the territory of foreign investors. Many of the companies people are buying into are partly-privatized formerly state-owned businesses that might or might not list on the exchange at some future point. Brokerages are blossoming in the new environment, with 56 now licensed, compared to only 16 early last year.
The Vietnamese government is worried that many of the investors are going to end up losing everything they’ve invested, but have been careful to try to calm the pace of activity without causing the market to collapse completely. New rules have been put in place governing lending by banks to finance stock purchases, and the government is thinking about requiring foreign investors to keep their money in Vietnam for at least a year.
It isn’t just the investment activity of individuals that the government is worried about, although there has been a reported problem in getting civil servants to pay attention to their jobs as they focus on the market. The central bank, for example, has had to prohibit its staff from making investments during business hours. In addition to individual investors, companies in a number of sectors have been putting surplus cash into stocks rather than putting it back into their own core activities.
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