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VietNam Holding has a poor month

By BFN News | 12:46 PM | Monday 07 December, 2015

In its monthly investor report, VietNam Holding Limited said that it has had a poor month, with the VNAS off 4.2% on the month to 565.7, with a fragile dong adding another circa 1% to the erosion in dollar terms. Locals mostly talked about over-stretched margin loan totals (USD1bn or so - small beer really) being to blame. However, the Company pointed to two more fundamental explanations for recent weakness. "First, Vietnam is - at least near-term - disappointing on its delivery of higher foreign investment limits: the grand announcement is now months old, the key proclaimed finalization date for a sector-by-sector list of limits was missed twice (September then October), and the SCIC's plans to get out of ten leading stocks don't yet seem to be much more than pie in the sky. "Second, an ad-hoc data point that came out on SOE indebtedness rather stuck in the craw: NPLs in that sector up 19% YoY, stated as a 4.6% NPL rate - which by government-reported standards for NPLs is high, meaning the true figure is of course much higher." At 12:44pm: (LON:VNH) Vietnam Holding share price was -0.02p at 1.85p (LON:VNHW) Vietnam Hldg Ltd share price was 0p at 0.11p Story provided by

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