OceanBank and OCB are also the two banks leading the market in terms of 24-month term deposit interest rates, 6% and 5.8%/year respectively.
In addition to OceanBank and OCB, VietBank and Saigonbank are also maintaining interest rates of 5.8% for 24-36 month term deposits.
Even VietinBank – a bank in the Big 4 group, has also offered an interest rate of 5%/year for a term of 24-36 months.
For 18-month term deposits, OceanBank and HDBank lead with interest rates of 5.9%/year. Next are banks: VietBank (5.8%/year); Saigonbank, LPBank (5.6%/year); KienLong Bank, Nam A Bank, NCB, BaoViet Bank (5.5%/year); OCB (5.4%/year); PVCombank (5.3%/year); Bac A Bank, BVBank (5.25%/year); SHB (5.2%/year); TPBank, Eximbank, Viet A Bank (5.1%/year).
OceanBank also leads the market in 12-month online deposit interest rates, up to 5.4%/year. Next are VietBank and KienLong Bank (5.2%/year); Nam A Bank (5.1%/year); HDBank, Saigonbank, LPBank, NCB (5%/year).
Since February 2024, the 9-month deposit term no longer has an interest rate of 5%/year. After KienLong Bank increased interest rates on April 26, the 5% interest rate reappeared. This is also the only bank that lists an interest rate of 5% for a 9-month deposit term, the remaining banks are all listing interest rates below 5%/year for this term.
HIGHEST DEPOSITS INTEREST RATE SCHEDULE ON MAY 3 (%/YEAR)BANK1 MONTH3 MONTHS6 MONTHS9 MONTHS12 MONTHS18 MONTHSKIENLONGBANK334,755,25,5OCB33,24,64,74,95,4HDBANK2,952,954,64,655,9VIETBANK33,44,54,75,25,8CBBANK3,13,14,54,454,654,9NCB3,23,54,454,6555,5BAC A BANK2,953,154,354,454,855,25NAM A BANK2,73,44,34,75,15,5BAOVIETBANK33,254,34,44,75,5PVCOMBANK3,153,154,34,34,85,3VIET A BANK2,93,24,34,34,85,1ABBANK2,934,34,34,14,1SHB2,834,24,44,95,2VPBANK2,734,24,24,84,8GPBANK2,53,024,154,44,854,95BVBANK2,853,14,14,354,75,25EXIMBANK33,34,14,14,95,1MSB3,53,54,14,14,54,5OCEANBANK2,93,244,15,45,9LPBANK2,62,744,155,6TPBANK2,83,144,95,1VIB2,52,7444,8DONG A BANK2,8344,24,54,7SAIGONBANK2,32,53,84,155,6PGBANK2,633,83,84,34,8SACOMBANK2,32,73,73,84,74,9MB2,22,63,63,74,64,7TECHCOMBANK2,252,553,553,554,454,45ACB2,52,93,53,84,5BIDV22,33,33,34,74,7SEABANK2,72,93,23,43,754,6VIETINBANK1,82,13,13,14,74,7AGRIBANK1,61,9334,74,7VIETCOMBANK1,61,92,92,94,64,6SCB1,61,92,92,93,73,9
Top Tech Investments: Following in the Footsteps of Apple and Spotify
Top Tech Stocks Analysis
Tech stocks are still showing potential for growth, according to recent analysis by Morgan Stanley. The firm has identified several companies that are well positioned based on their latest earnings reports. Let’s take a closer look at some of the top picks:
Alphabet
Alphabet, the parent company of Google, is experiencing strong performance across the board. Analyst Brian Nowak praised the company’s recent earnings report, highlighting the growth in revenue and earnings before interest and taxes (EBIT). With YouTube growth on the rise and advancements in artificial intelligence, Alphabet is poised for further success. The firm has raised the stock’s price target to $195 per share, reflecting a 17% increase from current levels.
Microsoft
Microsoft is leading the way in artificial intelligence, with analyst Keith Weiss noting the company’s strong quarterly results and optimistic guidance for the future. Despite a 33% increase in share price over the past year, there is still room for growth, especially in the AI sector. Microsoft is well positioned to capitalize on the increasing demand for AI technologies.
Spotify
Spotify’s recent earnings report exceeded expectations, with significant growth in both revenue and margins. Analyst Benjamin Swinburne highlighted the company’s superior product and untapped pricing power, indicating strong earnings potential. Additionally, Spotify’s advertising opportunities are gaining traction among investors, leading to a 57% increase in share price.
Apple
Apple’s recent performance has been impressive, with strong guidance for the upcoming quarter and record-breaking revenue from services. The company’s focus on innovation, including upcoming announcements in artificial intelligence, has investors feeling bullish. With a significant buyback authorization in place, Apple is poised for continued growth.
Overall, these tech stocks present exciting opportunities for investors, with each company demonstrating strong potential for future growth and success in the ever-evolving tech industry.
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Top Tech Investments: Following in the Footsteps of Apple and Spotify
Challenges Ahead: Balancing Price Stability and Economic Recovery in the Korean Economy
Despite the impressive growth in the first quarter, the Korean economy faces a number of challenges that must balance price stability and economic recovery. The economic structure that varies with the semiconductor economy must also be reorganized.[사진=뉴시스]
The economic growth rate in the first quarter rose to 1.3% compared to the previous quarter. It was significantly higher than market expectations (0.5-0.9%). It was the highest in two years and three months since the fourth quarter of 2021. Compared to the same period last year, it was 3.4%, a growth rate in the 3% range for the first time in two years, so it can be called ‘n ‘surprise performance.’
But the inside is not so good. Private consumption increased by 0.8% with the expansion of goods such as clothing and services including food and accommodation. Construction investment also increased by 2.7% as construction and civil engineering improved. However, the rate of increase was strong due to the base effect compared to the fourth quarter of last year, just before the situation was bad. Compared to the same period last year, construction investment was -0.6%. Government consumption (-0.6%) was also negative compared to the same period last year. Reflecting the sluggish corporate economy, investment in facilities (-0.8%) also fell.
In the end, the increase in exports, focused on semiconductors and mobile phones, supported the growth rate in the first quarter. It increased by 0.9% compared to the previous quarter and 7.1% compared to the same period last year. In particular, the recovery of semiconductor exports, which led to a rebound in the global economy starting in October last year, contributed significantly.
The Office of the President diagnosed that “exports and domestic demand are improving in a balanced manner,” but that is only half right. The figure for domestic demand was high due to the base effect compared to the previous quarter, which was slow. If the situation of high inflation and high interest rates does not improve, domestic demand can fall at any time.
Exports are also heavily focused on semiconductors. Total exports in March ($56.572 billion) increased 3.1% from a year ago, but excluding semiconductors, there was a decrease of 3%. The cumulative trade balance over the past year (April 2023 to March 2024) recorded a surplus of $21.524 billion, but if semiconductors are excluded, the trade balance changes to a deficit of $24.017 billion. Sluggishness and stagnation in other sectors seems to be hidden behind the semiconductor industry.
The trade balance, excluding semiconductors, has been in negative territory since 2018. As such, the Korean economy has a fragile structure that varies depending on the semiconductor market. However, as the global semiconductor war unfolds, with the United States, Taiwan, China, and Japan intensively supporting it as a national strategic industry, Korea’s status as a semiconductor powerhouse is being shake.
The biggest problem is that the increase in the rate of economic growth is not related to the recovery of people’s livelihood. The government expects that the improving export trend will lead to a rebound in domestic demand, but the perceived economy is extremely cold. The ‘high three quagmires’ of high inflation, high interest rates, and high exchange rates have become stickier.
The high price situation continues unabated and threatens the livelihood of ordinary people. The prices of utility bills and foods such as chicken and pizza, which were reduced before the general election, vary. Although the rate of consumer price inflation in April was 2.9%, falling to the 2% level for the first time in three months, the rate of increase in the price of agricultural products was still high at 20.3%. The increase in the cost of living index, which includes frequent purchases and a large share of spending, was also higher than the average inflation rate at 3.5%.
In a situation where high interest rates continue, the bank loan principal and interest delinquency rate at the end of February was recorded at 0.51%, the highest in five years. The risk of credit card company loan defaults has also increased. Bad real estate project financing (PF) loans are also a detonator that can explode at any time.
The high exchange rate, which is close to 1,400 won per dollar, is advantageous for large exporting companies, but has the opposite effect of rising import prices and shrinking domestic demand. The warmth of the good performance achieved by large export-oriented companies does not spread evenly to the bottom.
Moreover, the uncertainty of external variables does not disappear. The US maintains a high interest rate stance due to inflation concerns and is unlikely to lower interest rates for some time. The dollar-earning exchange rate is rising due to the extremely strong US dollar, and international oil prices are even more volatile due to the protracted war between Russia and Ukraine and the escalation of the Middle East conflict. A strong dollar and high oil prices increase the risk of acting as a factor that worsens inflation.
Despite the impressive growth in the first quarter, the challenge of the Korean economy to maintain price stability and economic recovery remains. Consumption increased in the first quarter, but this is not because real household income has increased. If prices rise due to external factors such as international oil prices, consumption can fall rapidly. Price stabilization policies should be implemented as a top priority, and special efforts should be made to manage household debt.
We need to change the industrial structure which depends too much on the export of certain items such as semi-conductors and motor vehicles.[사진=게티이미지뱅크]
The government must formulate and implement a precise policy mix so that the warmth of the improving economy that focuses on specific industries such as semiconductors and large export companies spreads to domestic demand and SMEs. In order to continue the economic recovery, investment must be supported, but companies are not actively investing. To revive markets and companies, deregulation measures are urgently needed to revive new service industries and create an artificial intelligence (AI) ecosystem.
The industrial structure that depends too much on the export of certain items such as semi-conductors and automobiles must also be changed. The Yoon Seok-yeol administration is celebrating its second anniversary on the 10th. A major change in industrial policy is needed, together with detailed measures for the livelihood of people who focus on eating and living.
Jaechan Yang, Editor of The Scoop
[email protected]
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Challenges Ahead: Balancing Price Stability and Economic Recovery in the Korean Economy