vietnams-latest-market-woes

Vietnam's latest market woes

The stockmarket is down and ratings agency Fitch has cut the country's sovereign rating from stable to negative û are we through with the bad news yet?
May 29, 2008
Vietnam has been ducking punches of bad news lately. So it's no surprise that ratings agency Fitch cut the country's BB-minus sovereign rating from stable to negative, yesterday. The cut in the rating û which is three levels below investment grade û followed one by Standard Poor's earlier this month.

The reason for the poor scorecard skyrocketing inflation, an increasing trade deficit, and a nose-diving stockmarket û the Ho Chi Minh City Stock Exchange's HOSE index has fallen 55% this year. The stock exchange has been closed since May 27 because of what the exchange says is a technical problem but it will reopen today May 30.

Vietnam's annual inflation accelerated to 25.2%...
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