The Vietnamese dong would be steady next months, buoyed by positive foreign inflow and reasonable gap between interest rates of the dong and the US dollar as well as the stability of the Chinese renminbi, experts said.
The yield of Government bonds (G-bond) has continued to decline and hit seven-month lows as the US Federal Reserve (Fed) seems unlikely to hike interest rates and the domestic monetary market has shown positive movements.
Liquidity of the banking system has been plentiful again after the Lunar New Year, helping the central bank net withdraw more than VND51.55 trillion (US$2.2 billion) in the past week.
Saigon Securities Inc. reported strong growth in the third quarter despite the securities market correction, with profits surging 227 per cent to VND541.6 billion (US$23.16 million) and revenues by 53 per cent of VND958.8 billion ($41.01 million).
Authorities need to closely control the rapid increase in Viet Nam’s credit-to-GDP gap so as not to cause high inflation as in the past, experts have warned.
Saigon Securities Inc (SSI) and HCM City Securities Corporation (HSC) have reported better profits in the second quarter and first half of 2018 despite volatile stocks that have dampened the performance of most of listed securities firms.
Saigon Securities Inc. achieved pre-tax profits of VND872 billion (US$38.07 million) on revenues of VND2.1 trillion ($91.7 million) in the first half of the year, a year-on-year increase of 19.3 per cent and 60.3 per cent.
The derivatives market proved its attractiveness when the value of its transactions rose threefold in April as the stock market posted a downward trend, reported Saigon Securities Inc. (SSI).
Airports Corporation of Viet Nam (ACV) is expected to reach VND18.04 trillion (US$789.2 million) in accumulated revenue this year, marking an increase of 13 per cent compared to last year.
Saigon Securities Inc. (SSI) targets a total revenue (including profits from affiliated companies) of VND3.41 trillion (US$150 million) and pre-tax profit of VND 1.615 trillion this year.
Saigon Securities Inc. (SSI) reported pre-tax profits of VND380.8 billion (US$ 16.7 million) on revenues of VND1.018 trillion ($44.8 million) in the fourth quarter of last year, up 344.7 per cent and 66.8 per cent year-on-year.