Vietnam’s state coal miner may make it onto a list of the world’s top mining companies by just one measure: its workforce. With almost 140,000 staff, it has more than BHP Billiton Ltd. and Rio Tinto Plc combined.
Vietnam’s arrest of a high-profile banking tycoon triggered the largest stock market drop in almost four years amid investor concern that it signaled wider vulnerabilities in the country’s financial system.
Vietnamese stocks, the second-best performers in Asia this year, are cheap and may rally in the next two quarters as slowing inflation prompts the central bank to cut interest rates, Dragon Capital Group Ltd. said.
Vietnam’s arrest of Nguyen Duc Kien, the founder of several banks, triggered the largest stock market drop in almost four years and highlighted investor concern about the vulnerability of the country’s financial system.