Locals on Wednesday still rushed to buy gold to wish for good luck on the occasion of the God of Wealth Day, the tenth day of the Lunar New Year. According to local folklore, the God of Wealth returns to heaven on the tenth day of the first lunar month every year. Vietnamese people consider this the God of Wealth Day, thus often buy gold to wish for good luck and prosperity. Saigon Jewelry Holding... 

The local market made a slight gain in the third straight rising session on Wednesday given sudden late rebound of some large caps. The VN-Index rose 2.7 points, or 0.7%, from the session earlier to close at 390.67. The market opened just into the black and fell sharply from the second phase. Having hit a low of 383.05 points, it reversed direction and recovered all the lost ground before closing... 

Gold hiked to VND100,000 on Thursday, jumping to VND45.4 million a tael (1.2 ounces), as global price rose. Saigon Jewellery Company, the biggest gold processor and trader in Vietnam, collected the metal at VND45.1 million and sold at VND45.4 million as of 10 am Vietnamese time. Sacombank Jewellery Company bought gold at VND45.1 million and sold at VND45.4 million as of 10:05 am Vietnamese time. Hanoi-based... 

Fred Hochberg, President of the Export-Import Bank (Ex-Im Bank) of the United States and other high-ranking leaders of the bank will pay a visit to Vietnam from February 5-8. The three-day visit aims to seek opportunities for financial support for US high-quality goods and services in Vietnam. Accordingly, the delegation of the US finance organization will meet with Vietnam’s trade partners and... 

Vietnamese gold investors would feel unsatisfactory when hearing about the supposition that gold would not be an attractive investment channel in the future. They may quote figures to show that gold investments brought a high profit of 30 percent at least to investors in 2011. Though the gold price had decreased sharply by the end of 2011, the gold price was still higher by 10 percent than the price... 

The local market kept rising in the final session of January on Tuesday but at a modest pace given falling demand towards the end of the session. The VN-Index gained 3.03 points, or 0.79%, against the day earlier to close at 387.97. Liquidity on the southern exchange sharply improved with 39 million shares worth VND509 billion traded, soaring 80% and 72% from the previous session respectively. The... 

The HCMC Real Estate Association (Horea) has blasted a suggestion to impose the housing tax, saying it is inappropriate to discuss this issue in the face of the current stagnant market. Le Hoang Chau, chairman of Horea, told the Daily that his association had yet to receive any official information regarding this suggestion from the city’s construction department to the Ministry of Construction... 

Coffee prices in the country have been falling over the past two weeks and are expected to drop further in the coming time as Brazil from Wednesday will offload its coffee volume stockpiled in 2009. The world’s leading coffee producer from this month will sell 1.4 million bags of Arabica coffee, or around 50,000 60-kilo bags weekly, according to specialist Nguyen Quang Binh. This offload will affect... 

A big capital volume is flowing into the banking sector, where a drastic restructuring process is taking place. However, experts have noted that the capital mostly has come from laymen, or the investors who are not keen on the finance and banking. On January 1, 2012, SCB–the bank which took shape after the merging of the four banks, officially became operational. SCB is not the only bank which... 

Vietnam’s one-year government bonds declined on speculation banks have less cash to invest in debt following increased demand for funds during the weeklong new year. The dong fell. “Banks don’t have much cash to buy bonds now as liquidity is still low after demand for cash increased during the Lunar New Year Holiday,” said Vu Anh Duc, a Hanoi-based senior fixed- income dealer at Vietnam Joint-Stock...