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Foxconn to shift some Apple production to Vietnam to minimise China risk: Reuters

Foxconn is moving some iPad and MacBook assembly to Vietnam at the request of Apple, said a person with knowledge of the plan.

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VN-Index crosses 1,000-point threshold after a year long

By the end of Thursday's afternoon, Vietnam’s benchmark VN-Index closed at 1,005.97 points, up 6.03 points or 0.6 percent when many blue-chips reversed at the end of the session, according to exchange.

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Foxconn to invest $270mln to expand Vietnam production

Foxconn, formally known as Hon Hai Precision Industry, plans to expand production in Vietnam with an investment of around $270 million, Nikkei has learned.

News

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Vietnam confirms one local infection case of Covid-19

The Ministry of Health has confirmed one new local infection case of Covid-19, ending the country's streak of 87 days without community transmissions.

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Vietnam's 2020 textile-garment exports likely to reach $34 billion

Vietnam’s textile and garment industry is predicted to earn about $33.5 - 34 billion in 2020, higher than the forecast of $30-31 billion in April, down 14-15 percent year-on-year.

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Vietnam’s VC funds form alliance to support startup ecosystem

Investment funds led by VC firms and accelerator ThinkZone have founded the Vietnam Investment Fund Alliance to support startup ecosystem and promote venture capital environment in Vietnam, ThinkZone said in a statement.

Economy

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Vietnam’s Nov. trade surplus plunges to $600 million from $2.9 bln in Oct.

Trade surplus in November plunged to $600 million from a $2.9 billion surplus in October, according to data from General Statistics Office.

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New regional trade pact to put Asia back on its pre-Covid growth trajectory

The Regional Comprehensive Economic Partnership, which was signed between China and 14 countries, the world's largest trade pact, is seen as a catalyst for Asia to retain growth momentum, HSBC leader said.

Companies

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Steelmaker Hoa Phat boosts galvanised steel exports to Europe

Vietnam’s largest steelmaker Hoa Phat plan to increase export of galvanised steel products to Europe, with the first shipment of 10,000 tonnes to the market in November, it said in a statement.

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SeABank to list 1.2 bln shares in Vietnam’s main stock exchange

The Southeast Asia Commercial Joint Stock Bank, known as SeABank, has filed documents to list 1.2 billion shares on Vietnam’s main bourse, according to Ho Chi Minh City exchange filing.

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Masan acquires 51% stake in poultry meat producer 3F VIET

Masan MEATLife JSC, a subsidiary of Masan Group has completed acquiring 51 percent stake in 3F VIET JSC, a leading domestic player in poultry meat platform.

Market

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VN-Index crosses 1,000-point threshold after a year long

By the end of Thursday's afternoon, Vietnam’s benchmark VN-Index closed at 1,005.97 points, up 6.03 points or 0.6 percent when many blue-chips reversed at the end of the session, according to exchange.

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ACB gets approval to move 2.16bln shares to Ho Chi Minh Stock Exchange

Vietnamese lender ACB has got approval to move 2.16 billion shares to the Ho Chi Minh Stock Exchange from, the country’s main bourse, from Hanoi Stock Exchange, according to exchange filing.

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German company plans complete takeover of Vietnamese pharma firm

Pharmaceutical giant STADA has raised its stake in Vietnam's Pymepharco to 80 percent and is now seeking full ownership without submitting a bid for the purchase.

Real Estate

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Japanese retail giant Takashimaya turns to Vietnam real estate market

Japan’s retailer Takashimaya has turned to property development in Vietnam with commercial and office projects as the company's next engine for growth amid Covid-19 pandemic, Nikkei reported.

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Up to 16,000 foreigners buy housing in Vietnam in last five years

Up to 16,000 foreigners have bought houses in Vietnam since July 2015, mostly from China, the Republic of Korea, Japan, Taiwan (China), and Singapore, Ho Chi Minh City Real Estate Association estimates.

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Vietnam to see boom in supply of industrial property next year: Savills

Vietnam will see strong growth in industrial property next year due to higher demand for industrial parks as business expand production or relocate out of China, according to Savills Vietnam.

Life & Art

World

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Tesla gets green light to sell Shanghai-made Model Y SUV in China

Elon Musk’s Tesla Inc has obtained permission to start selling its Shanghai-made Model Y sports utility vehicle in China.

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Trump to add China's SMIC and CNOOC to defense blacklist

Trump administration is poised to add China’s top chipmaker SMIC and national offshore oil and gas producer CNOOC to a blacklist of alleged Chinese military companies, according to a document and sources.

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Huawei CFO witness testimony to resume in Canada in U.S. extradition case

Witness cross-examination in the U.S. extradition case of Huawei Chief Financial Officer Meng Wanzhou will resume in a Canadian court on Monday.