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Vietnam Stocks Crash Most In 13 Years As China Tensions Escalate
While most mainstream media is focused on villainizing Putin and the ongoing 'diplomacy' in Ukraine, we warned Monday of the dramatically escalating tensions between Vietnam and China over oil-drilling in disputed waters. The initial verbal to and fro - Vietnam angry at the move and China shunning them - was followed by physical interactions (multiple rammings and water-cannon use) and the US then got involved (laying the blame firmly at China's foot calling the move "provocative"). The capital markets appear a little more concerned about where this 'tension' leads as the Vietnamese stock market crashed almost 6% - its largest drop in 13 years.
Vietnam stocks posted their biggest retreat since 2001, extending a six-week selloff that turned the benchmark index into the world’s worst performer, amid escalating tensions with China.
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The VN index has wiped out most of the 20 percent advance through its March high that had made the gauge this year’s top performer in Asia.
“The talk is all about the political tension,” Michel Tosto, the head of institutional sales at Viet Capital Securities in Ho Chi Minh City, said by phone. Some investors are showing signs of “panic” while others are “bottom-fishing” for beaten-down stocks, he said.
Vietnam said this week it’s prepared to take measures over China’s placement of an exploration rig in disputed waters, as the U.S. called the Chinese move “provocative” given recent regional tensions.
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“This row between China and Vietnam has put cold water on the market,” Marc Djandji, a partner at Asean Strategy Group, said by phone. “This is a serious thing. It’s not something that is resolved in a day. People are hoping for some sort of way to resolve this internationally.”
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“The sea tensions are worrying investors a lot, and prompted many of them to sell,” Hoang Thach Lan, the Ho Chi Minh City-based brokerage unit head at MHB Securities Co., said by phone today. “However, there are also some investors who viewed the tensions as a temporary situation and they took this chance to buy. We see trading volume is very large.”
So BTFD on the biggest drop in 13 years because, hey, what can go wrong when the world's largest economy steps all over your mineral resources and no one in the world gives a shit...
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unlike that chinese drilling rig and vietnam stock market the usa stock "market" is unsinkable bitchez
Um.. Ever hear of the Titanic?
where is that sky-is-falling skittles shitting unicorn today?
The "market" only goes down if they want it to go down. Infinite QE gives you the ability to goal seek any number you want. How do you know the Fed isn't injecting a trillion a month into the market, and only telling us its what, 45 billion now? We have no idea. Is the monetary base really 4 trillion or 40? They could be injecting more, even while they are telling us its less. When is the last time the Fed has been audited? Remember, when things get bad, we lie.
bingo. i've been preaching stealth qe since the bush years.
It's not stealth QE, it is right in the open for everyone to see.
Continuously lowering the fractional reserve requirements for banks from 20% (which was absurdly high) to what we have today is a massive QE stimulous. Going from 20% to 10% effectively doubles M3 which is QE beyond any numbers CNBC talks about. America has relied on massive QE since the 70s. It's all a game on the confidence in the dollar. Once this confidence is lost the game is over.
And people say I'm foolish to have a little gold, lead and yes BTC stored safely in remote locations.
You are now telling me that the Vietnamese stock exchange has real investors unlike the US? It can go down!?!?
How do you know the Fed isn't injecting a trillion a month into the market, and only telling us its what, 45 billion now?
If something truly bizarre like that ever happened, an ethical whistleblower somewhere in the financial system would step up and alert his/her superiors.
Never mind.
And risk getting the urge to shoot oneself in the back of the head 5 times after doing so?
an ethical whistleblower somewhere in the financial system would step up and alert his/her superiors.
Those employees were filtered out during interviews in the strip joints with several lines of coke.
ever hear of the unsinkable molly "brown-nose" yellen bitchez?
Ship to ship super soaker at sea battles. Serious shit no doubt,
Bullish for Napalm and Agent Orange.
that Vietnam market chart is pretty much how the Dow and S&p should look right now if it wasnt for all that great QE-About a 40% retracement off the March 2009 lows.
Got donged big time
American companies have moved a number of their Mfg facilities to Vietnam, where the labor is even cheaper than in China.
I guess China does not like competition from kid-brother.
Any problem in the world can be remedied with the careful application of high explosives
Chinese version. I didn't hit you. You purposely struck my fist with your chin.
luv you long time.....NOT
Wi Fuk yoo lon time
Can't get through to my Vietnamese broker Ho Li Fuk.
Looks to me like bow of the Chinese ship hit the side of the Vietnamese ship.
http://www.youtube.com/watch?v=iapgDcyRxEM#t=44
But the Chinese can say the Vietnamese goosed it with it's Turbo drive and swung in front Chinese boat.
Speaking of China, how about this story.
http://www.businessinsider.com/chinese-police-will-soon-patrol-the-stree...!K1oeF
Chinese Police Will Soon Patrol The Streets Of Paris.
Why in the world would France allow Chinese police to patrol their streets? Do they even have the authority to enforce French laws? The reasoning they use is lame. Is this a new trend we will be seeing more of in other countries? Here in the US? Will other countries send police to foreign countries to protect their citizens? There are many Chinese tourists in NYC, too! Can you imagine Chinese police patrolling the streets of New York City?
I'm sure the Chinese will let the residents of the area hold a referendum on whether they want to be subsumed into China. Of course, since fish and dolphins don't have much understanding of elections, the Chinese will have to mark the ballots for them. That's fair, right, Tyler?
Must get rid of the slave labor competition
yeap, no more cheap labour so your iPhone can cost $2000US. Sometimes, people really crack me up.
Things are not what they seem.
'Perhap they can send kissinger to china, to negotiate some kinda seance with mao's ghost...?'
This is a planned distraction by China to aid its new found friend Russia. I don't think Sun Tzu meant this as literal compass points but it so fits the situation. (Winning Strategy #6)
"Make a sound in the east and then strike in the west." -Art of War, Sun Tzu
I would love to be on the conversations between our State Department, not wanting to upset relationships with holders of $1T in bonds, and the Viet government, demanding the US fckin stop whining like a little girl and man-up to the Chinese.