KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Vietnam's economy is on a strong growth trajectory, with potential to meet or surpass the government’s 6.5% target for 2024, as stated by Planning and Investment Minister Nguyen Chi Dung. The minister highlighted that growth could even reach 7% this year, driven by robust industrial and construction sectors.
The International Monetary Fund (IMF) has predicted Vietnam’s GDP will expand by 6% this year, up from 5% in 2023, positioning it among the fastest-growing economies in Asia.
Increasing exports and foreign direct investment (FDI) are key contributors to this economic surge. Deputy Minister of Planning and Investment Tran Quoc Phuong indicated that pledged FDI for the year might reach $39-$40 billion, up from $36.6 billion in December 2023.
Despite this positive outlook, there are challenges. An ongoing anti-graft campaign has slowed the release of infrastructure funds, with disbursements of public investment funds in the first half of the year falling to 29.4% of Prime Minister Pham Minh Chinh’s plan, compared to 30.5% in 2023. Chinh has urged officials to expedite the expenditure of approved investment funds.
The ministry has outlined two economic growth scenarios for the remainder of the year. In the first scenario, GDP could rise by 6.5% in the third quarter and 6.6% in the fourth quarter. In the second scenario, growth could reach 7.4% in the third quarter and 7.6% in the final period.
Prime Minister Chinh has set a target for third-quarter economic growth between 6.5% and 7%, and has instructed the central bank to ensure an adequate money supply, continue reducing lending interest rates, and keep borrowing costs low to support businesses.
A lot of good opportunities in Vietnam but how do we invest in Vietnam stock market?
ReplyDeleteOne of the easiest ways to invest in Vietnam stock market is through Vietnam ETF.
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