Economic news before trading time (April 2): US stocks set a new peak, Hoa Phat profit margin forecast is positive

Economic and financial news today have outstanding news such as: Hoa Phat profit margin forecast is positive thanks to strong HRC price; US stocks reached a new peak, the S&P 500 exceeded 4,000 for the first time amid a series of positive news; Gold prices continued to increase by more than 1% of the previous session.

Economic news before trading time (April 2): US stocks set a new peak, Hoa Phat profit margin forecast is positive
America: ‘Made in China 2025’ has a negative impact, distorting the market

According to Bloomberg, the 2021 foreign trade barrier forecast published by US Trade Representative Katherine Chi Tai on March 31 shows that the “Made in China 2025” strategy announced by China in 2015 includes the Extensive state intervention and support, and at the same time restricting and discriminating against foreign enterprises.

The view of the US government under President Joe Biden is consistent with that of the government under former US Presidents Barack Obama and Donald Trump.

The Chinese foreign minister repeatedly used the intention of confronting the United States when visiting the Middle East

Closing the trip on March 30, Chinese Foreign Minister Wang Yi promised to cooperate with six Middle Eastern countries, mainly Islam including Saudi Arabia, Turkey, Iran, UAE, Bahrain and Oman.

During his visit, Mr. Wang tried to boost the confidence of these six countries in China – an economy facing sanctions from the US, the European Union (EU), the UK and Canada over accusations of human rights violations in Xinjiang autonomous region. In addition, to reduce the dependence on the dollar, Mr. Wang also encouraged the Middle East to use local currencies for commercial transactions.

Economic news before trading time (April 2): US stocks set a new peak, Hoa Phat profit margin forecast is positive
Fitch Ratings has rated Vietnam with ‘positive’ outlook

On April 1, Fitch Ratings announced the rating of Vietnam’s ceiling for long-term foreign currency deposits at BB and raised the outlook from “stable” to “positive.”

Fitch Ratings, according to a representative of the Ministry of Finance, raised the outlook to “positive”, reflecting Vietnam’s ability to recover growth, one of the few economies in the Asia-Pacific region belongs to the group of BB countries that can maintain positive growth at 2.91% by 2020 in the context of the COVID-19 pandemic.

Hoa Phat profit margin is forecasted to be positive thanks to the sharp increase in HRC price

In a recent analysis report on Hoa Phat Group (Ticker: HPG), Rong Viet Securities (VDSC) said that the HRC price has increased 10% since the beginning of 2021 due to the recovery of demand in many regions, while Iron ore supplies continue to stagnate in Brazil, and transportation costs are becoming expensive.

Because Hoa Phat is domestically produced and does not take this transport cost, it is not negatively affected, and can achieve a higher gross profit margin, VDSC said.

Becamex IJC targets a 68% increase in profit by 2021

The Board of Directors of Technical Infrastructure Development Joint Stock Company (Becamex IJC, Ticker: IJC) has just approved a consolidated business plan in 2021 with revenue up 43% compared to the implementation in 2020 to 3,072 billion VND. Pre-tax and after-tax profit targets increased by 77% and 68% to 797 billion and 622 billion respectively.

With the parent company Becamex IJC, the Board of Directors plans to achieve revenue of VND 2,788 billion, an increase of 41% compared to the result of 2020. Profit before tax and after tax are expected to increase 64% and 57% to 772 billion VND and 605 billion VND.

Hoa Sen Group wants to divest from Hoa Sen Du Long

The Board of Directors of Hoa Sen Group (Ticker: HSG) has just approved the policy of transferring all shares in Hoa Sen Du Long Industrial Park Infrastructure Investment Joint Stock Company – the unit as an investor in construction and infrastructure of Du Long Industrial Park.

The transfer objective is to recover the Group’s investment capital in accordance with the adjusted strategy and best guarantee the interests of the Group.

Nearly 2,000 new real estate businesses were launched in the first quarter of 2021

In the first three months of this year, the country had 29,300 newly established enterprises, down 1.4% from the same period in 2020.

By field of activity, 8/17 industries have an increase in the number of newly established businesses compared to the same period in 2020. In which, real estate business ranks first in the number of newly established enterprises in the first quarter this year with 1,733 businesses, up 27.1% over the same period last year.

Economic news before trading time (April 2): US stocks set a new peak, Hoa Phat profit margin forecast is positive
US stocks reached a new peak, the S&P 500 surpassed 4,000 for the first time amid a series of positive news

The S&P 500 Index rose 1.2% and closed at a new historic peak of 4,020 points. The Dow Jones industrial average rose 172 points, or 0.5%, to close at 33,153 points.

The tech-oriented Nasdaq Composite Index added 1.8% to close at 13,480 points. Tech giants like Alphabet and Netflix both soared by more than 3%. Amazon and Microsoft also went up more than 2%.

Gold price today April 2: Continued with an increase of more than 1% of the previous session

In the morning session on April 2, the spot gold price reached $ 1,730.3 / ounce at 7:15 (Vietnam time), according to kitco. Gold price delivered in June increased 0.87% to 1,730.45 USD / ounce.

Gold prices rose more than 1% in Thursday trading (April 1) as the US dollar and US bond yields weakened, while rising unemployment data in the US made prospects for a recovery in economic growth.

Source: vietnambiz.vn – Translated by fintel.vn

News Related

OTHER NEWS

“USD / VND exchange rate will fluctuate unpredictably in Q2 of 2021”

The interbank USD / VND exchange rate continuously decreased in Q1 and only inched up at the end of March due to increasing pressure from USD. According to analysts at KB Vietnam Securities… Read more »

For first time, Vietnamese securities had a company worth more than $ 20 billion

Ước tính tại ngày 14/4, quy mô vốn hóa của Tập đoàn Vingroup là 20,56 tỷ USD, tương đương 10% vốn hóa của sàn HOSE. Sau đà tăng giá mạnh mẽ của cổ… Read more »

Profit from Pha Lai Thermal Power still increased in Q1, although revenue decreased by half

Although revenue decreased by more than half due to electricity production, Pha Lai Thermal Power still recorded profit growth thanks to dividends from Hai Phong Thermal Power and reversal of provision for devaluation… Read more »

Stock market April 15: Led by Vingroup and MSN, VN-Index exceeded 1,260 points

The Vietnamese stock market continued its exciting trading at the beginning of this morning session with the lead of large-cap stocks such as VIC, VHM MSN. As of 9:35 am, the VN-Index increased… Read more »

The IPO "blockbuster" DXS: Where does the power come from?

In recent years, companies in the real estate brokerage industry have been listed on the stock market to seek new development opportunities, such as CENLand or Hai Phat Invest, or recently DXS. Holding… Read more »

Minh Phu plans pre-tax profit of over VND 1,500 billion after escaping US anti-dumping tax

Accordingly, Minh Phu expects the production output in 2021 to reach 61,500 tons, the export value will reach $ 638 million. Revenue in 2021 is planned to be 15,774.9 billion VND, about 10%… Read more »

Quang Ninh remains most competitive province for 4th straight year

According to the latest ranking released on Thursday, and based on responses from nearly 12,300 Vietnamese businesses, the northern province has scored 75.09 points, 2.69 more than in 2019. Eighty nine percent of… Read more »

Jasa Sarjana equips newly launched Automated Rapid Transit system with Rivex Rikeguard antimicrobial film

KUALA LUMPUR, MALAYSIA – Media OutReach – 15 April 2021 -Jasa Sarjana Sdn Bhd (“Jasa Sarjana”), the Malaysian official sole distributor of Japanese premium car window film brand, ICE-μ, played a part in… Read more »

Hanoi sparkles with nocturnal serenity

Thanh Nien Street, located between West Lake and Truc Bach Lake, is brightly lit at dusk. The street is renowned for its beauty, with the blackboard trees that line it providing ample shade… Read more »

City to launch public bike service in August

Ho Chi Minh City will pilot a bicycle-sharing system in District 1 for one year, starting August 1. (Illustrative photo: VNA) NDO/VNA – The Ho Chi Minh City authorities have approved a proposal… Read more »

Dam Trau Beach on Con Dao Islands among world's 25 best

“With distinct golden sand, soft swells, and shady groves of bamboo and evergreen trees, it’s the kind of place to spend the day gently swinging in a hammock with a beach read and… Read more »

Nha Trang: beaches are just one of its attractions

Hon Chong in Nha Trang is a complex of rocks stacked together and the surrounding scenery is a tourist attraction on its own. It stands 3 km northeast of the central town’s center.… Read more »

Saigon baker 'ensnares' foodies with animalistic bread

Each morning and afternoon for the past year, 37-year-old baker Phan Thanh Phuoc has sold bread shaped like crocodiles, crabs, frogs, and turtles in an alley off 123 Ho Hoc Lam Street, Binh… Read more »

Quang Binh to launch a series of new tourism products

Son Doong Cave NDO – Visitors will have the opportunity to experience some new tourism products, in the second quarter of 2021, according to the Quang Binh provincial Department of Tourism. Of which,… Read more »

Unique Bat Trang Ceramic Museum

Although not yet officially put into operation, the museum attracts many young people. NDO – Built with inspiration from the curves of pottery wheels, the Bat Trang Pottery Museum is becoming a new… Read more »

Ba Ria-Vung Tau promotes tourism on BBC Global News

Ba Ria-Vung Tau promotes tourism on BBC Global News NDO – A 30-second video featuring the beauty of Ba Ria – Vung Tau Province is being screened daily on BBC World News’s Asia-Pacific… Read more »

Government guaranteed debt accounts for 12% of public debt

The Ministry of Finance has just reported to the Government on a draft SOE restructuring project for the period 2021-2025, including an assessment of the content of Government guarantee for SOE loans. Government… Read more »

Ho Chi Minh City is piloting public bicycles

Chief of Office of Ho Chi Minh City People’s Committee Ha Phuoc Thang has just signed a written notice of conclusion of the Chairman of the People’s Committee of Ho Chi Minh City… Read more »

Trial progress of two Covid-19 vaccines in Vietnam

Associate Professor, Dr. Vu Dinh Them, Director of the Center for Clinical Trial, National Institute of Hygiene and Epidemiology, said that 6 people who injected the second dose of Covivac were monitored 4… Read more »

Salt harvest hits HCMC's solo island commune

Located six kilometers from the center of Thanh An island commune in Can Gio District, Thieng Lieng Hamlet has 211 households of nearly 1,000 members. This is one of three hamlets here that… Read more »

Ha Long gets marked by architectural, natural highlights

The 28-m high clock tower in Bach Dang Ward at the intersection of major streets like Tran Hung Dao and Le Thanh Tong, stands out with its yellow tempered glass. This renovation of… Read more »

Two-century-old communal house in Can Tho

Binh Thuy communal house or Long Tuyen temple was originally constructed from wood and leaves. With two restorations, the latest in 1909, it is one of the most aged communal houses in Vietnam’s… Read more »

Disbursement of public investment capital of most ministries and central agencies reached less than 10%

According to the Ministry of Planning and Investment, the disbursement rate of public investment capital of most ministries, central and local agencies is below 10%. Disbursement of public investment capital of most ministries… Read more »

The Ministry of Transport agreed to soon invest in An Phu intersection, Thu Duc city

The an Phu intersection project in Thu Duc city has just been agreed by the Ministry of Transport on the need to soon be invested in construction. The project has been assigned investment… Read more »

Binh Thuan works to promote itself as a safe, friendly and attractive destination

Binh Thuan works to promote itself as a safe, friendly and attractive destination. (Photo: VNA) NDO – The south-central coastal province of Binh Thuan has built a plan to stimulate local tourism in… Read more »

Vietnam has eight new ports, bringing the total to 286 ports

According to the newly announced port list, Vietnam’s seaport system currently has a total of 286 ports. Some areas under seaports have a large number of ports such as Hai Phong with 50… Read more »

Hanoi dormitory cafe harks back to bygone subsidy era

The Zum Coffee shop is located on the first floor of an old dormitory in a small alley at 110 C6 Vu Ngoc Phan Street, Dong Da District. The outside of the shop… Read more »

Life taps a different beat on HCMC's solo island commune

An drone shot of Thanh An. It is one of six communes in Can Gio District, about 46 km southeast of HCMC’s center. The island commune’s total area of more than 13,000 hectares… Read more »

Starfish pay with their lives for a few photo-ops on Phu Quoc island

The expressions of outrage followed after a woman from Hanoi took photographs of dead, dry starfish in Rach Vem Village in Phu Quoc and shared them with a travel group on Facebook. The… Read more »

99-year-old Nguyen Dynasty pillow maker

Born into a family of royal origin, Cong Ton Nu Tri Hue of Huong Tra District in Hue, central Vietnam is one of the few people still able to make the Vietnamese royal… Read more »

Australian national broadcaster to air series on Vietnamese cuisine

Hosted by Vietnamese Australian chef Luke Nguyen, the show will run at 8:30 p.m. every Sunday, featuring a culinary journey from southern Vietnam through Mekong Delta to the northern region and Hoi An,… Read more »

Hanoi residence of Vietnam's last king Bao Dai

According to National Archives Center No.1, this is the Didelot residence, home of French baron Pierre Didelot and his wife Marie-Agnes Nguyen Huu Hao, biological sister of Queen Nam Phuong, wife of Bao… Read more »

Hoi An bursts with weekend visitors after Covid-19 contained

During weekends, from 2 p.m. to 9 p.m, many streets of the central town are crowded with groups of visitors. On average, Hoi An attracts more than 1,000 visitors over weekends, three times… Read more »

Dragon Capital leader: Infrastructure investment is the driving force in coming time, real estate and banks will benefit

Mr. Le Anh Tuan said that infrastructure investment is the driving force for growth in the next 5 to 10 years. The era of investment in infrastructure, especially roads At the webinar “DCVFM’s… Read more »

IMF: Vietnam’s economy could grow by 6.5% this year

According to the report “World economic outlook” has just been announced, the International Monetary Fund (IMF) forecasts that Vietnam’s economic growth will still reach 6.5% this year and reach 7.2 % next year… Read more »

Imported sugar crushed domestic sugar

After Vietnam joined trade agreements, especially the ASEAN Trade in Goods Agreement (ATIGA), the import and export tax on sugar from ASEAN countries to Vietnam has decreased on average from 85% to 5%.… Read more »

Ba Ria-Vung Tau tourism enjoys BBC boost

The broadcast follows a tourism ad deal signed by the southern province’s tourism department and Global Book Corporation, an official media representative of BBC World News. Under the agreement, a 30-second video featuring… Read more »

By end of first quarter, credit growth of the whole economy reached 2.93%

The Credit Department for economic sectors, the State Bank said that by the end of March 31, 2021, credit for the whole economy increased by 2.93%, much higher than the 1.3% increase in… Read more »

The Ministry of Transport: Not taking into account price of air tickets

In recent days, the story of the ceiling price, the price of air ticket floor is being concerned by the public when Vietnam Airlines has reported to the Vietnam Aviation Administration to consider… Read more »

Settlement of ground problems for key transport infrastructure projects

Nghe An province is focusing on directing the compensation, support and resettlement, promptly dealing with problems related to the ground clearance of key transport infrastructure projects in the area to ensure progress and… Read more »

Support packages need to be at the right place and time

The COVID-19 pandemic caused many economic activities to stall, causing the State budget revenue to decline, while the need to spend on prevention and overcoming of the epidemic increased. Monetary policy must balance… Read more »

Quang Ngai pulls plug on proposed global geopark

After spending VND20 billion ($870,000) on surveys and research since 2015, Quang Ngai Province wants to end the project since the proposed geopark’s socio-economic benefits are “unclear.” “After reviewing the project, the People’s… Read more »

Underground stream discovered in Quang Tri cave

In 2020, at Tria Village, a local resident discovered a new cave in North Huong Hoa Nature Reserve, according to staff member Ho Van Phan. The cave lies about 30 minutes by foot… Read more »

Credit in Hanoi increased by 0.7% in the first quarter

Hanoi Statistical Office has just released a report on the socio-economic situation in the first quarter, including the bank credit indicator. According to the Hanoi Bureau of Statistics, credit institutions in the area… Read more »

‘End’ the progress of reviewing portfolio of aviation infrastructure assets managed by ACV

ACV has just been requested by the Ministry of Transport to urgently review the list of aviation infrastructure assets invested by the State. According to ACV, the historical cost of total assets at… Read more »

FAO: Global food prices rose for the 10th consecutive month

Source: world-grain.com The United Nations Food and Agriculture Organization (FAO) announced on April 8 that global food prices rose in March 2021, marking the 10th consecutive monthly increase, with the prices of vegetable… Read more »

Activate capital for low growth industry

Accordingly, the post-translation support capital flow is recommended by experts to focus on businesses that really need it, especially small and micro enterprises. Growth in revenue and profit after tax by industry. Recovery… Read more »

Peaceful parks in Hanoi

Early morning at Yen So Park. NDO – Behind the bustle of the streets, there is also a peaceful and quiet capital city of Hanoi , with its beautiful parks. Over the years,… Read more »

Dawn breaks over famed Nha Trang beach

Locals along 12-km Tran Phu Beach, which U.S. News in 2019 listed among the world’s top 50. Nha Trang is well known for its beaches and scuba diving, attracting large numbers of backpackers,… Read more »

Localities launch tourism stimulation packages for 2021

Many interesting sea tourism events will be held in Da Nang city this summer (Photo: VTV) NDO – Localities across the country are hosting an array of stimulus programmes to boost domestic travel… Read more »