Vietnam’s coffee market picked up as global prices supported trade and farmers released beans ahead of a long holiday, while the Indonesian market remained slow, traders said on Thursday. Vietnamese farmers in coffee-growing Daklak province quoted coffee beans at 37,100-37,500 dong ($1.65) per kg, slightly higher than last week’s 37,000-37,100 dong per kg, tracking London’s rises, traders said. The London ICE March futures contract jumped to as high as $1,771 a tonne on Wednesday, the highest intra-day level seen since November 30, as roasters bought before Vietnamese producer selling slows for the Tet festival, dealers said. Traders said the pick-up in local prices had encouraged farmers to cash out ahead of Tet, Vietnam’s lunar new year and its biggest holiday. It falls this year in mid-February, but the price is already attractive enough for a big release. The 5-percent black and broken grade 2 robusta was traded around a discount of $50 per tonne to the ICE March futures contract, compared with a discount of $30-$45 per tonne a week earlier, traders said. More contracts were secured this week due to increasing supply in the market and as demand picked up, although only at a modest pace, traders said, noting there was a gap in offers between most importers and exporters. Vietnamese farmers are expected to sell beans actively up until Feb. 10 before shutting shop for Tet. They will return to trading at the beginning of March, traders said. In Indonesia, the grade 4 defect 80 robusta traded at… [Read full story]
Market to stay flat again this week, brokers By Phuong Thao - The Saigon Times Daily HCMC – Since investors are still worried about huge share supplies in the future while cash flow remains weak, many securities enterprises forecast the market to remain flat with the VN-Index oscillating within 443 and 460 points this week. The market closed the first week of October with a modest change of the stock index but a strong decline in trading volume. On the southern bourse, the VN-Index gained a slight two points, or 0.44%, against the previous week to close at 451.71. Liquidity,…... [read more]
Market expected to move flat this week Phuong Thao By Phuong Thao - The Saigon Times Daily HCMC – Securities firms have predicted the market would move sideways or drop back slightly in this holiday-shortened week as investors would not be ready to come back to the market. Investors mostly closed their positions last Friday, leaving both indices moderately in negative territory. Several notable AGMs (annual general meetings) were held on the day but provided little motivation for investors. Both markets were slack in the final week of April, having some unconvincing rising sessions amid low liquidity. The VN-Index inched…... [read more]
So far, police have not detected any terror plots but efforts to ensure security are underway, he confirmed.Seventeen years ago on December 24, 2000, church bombings occurred in several cities in Indonesia, leaving 16 people dead and 96 others injured.In an anti-terrorism campaign from December 9-11, Indonesia arrested 19 suspects from different regions, including East Java, Riau and South Sumatra provinces. Source from Vietnamplus.... [read more]
VN-Index almost goes flatPhuong Thao By Phuong Thao - The Saigon Times Daily HCMC - The VN-Index fluctuated in a fairly narrow range before closing at 591.6 points yesterday, inching up only 0.13 point, or 0.02%, against the session before. Yesterday’s session also marked the sixth straight rise of the main index. According to Viet Capital Securities Company, the local stock market had not any clear direction following a slight mix of good and bad news. The central bank reported credit growth rate was just 3.52% in the first six months of this year, dampening hopes for a faster economic recovery…... [read more]
Flat trading expected this week, brokers sayPhuong Thao By Phuong Thao - The Saigon Times Daily HCMC – Cautious sentiment may keep investors on the sidelines, resulting in low liquidity and narrow trading range of the VN-Index this week, said securities enterprises. Opening last week, the VN-Index slumped to around 500 points, the lowest level over the past six weeks, due to a sudden increase in selling pressure. However, in the last session of 2013, the market bounced back after Reuters reported news related to imminent approval of foreign ownership limit increase draft. Viet Dragon Securities Company (VDSC) said that…... [read more]
