Word: trung
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...Friday night, and the back-alley Hanoi Internet caf? is buzzing with video-game warriors noisily slaying dragons. But Trung, a 26-year-old engineer, is there to make a killing of a different kind. Logging onto an Internet chat room dedicated to stock trading, he joins about 1,000 other Vietnamese with aliases like "warrenbuffet74" and "wallstreethanoi" who are in search of the day's hot deals. "I'm selling 13,000 shares of CavicoE," reads one message. "Price is 31,000 dong per share. Contact Manh." The next message reads: "Oh, what a pity. I just bought...
...What's surprising about Trung is not his profit projections-just about everyone is giddy about Vietnamese investments these days-but where he's making his money. While the nation's fledgling official bourses in Hanoi and Ho Chi Minh City are surging, Trung and many other local punters prefer to invest where the action is even headier: he typically trades in an unsanctioned market composed of websites and Internet chat rooms frequented by thousands of investors who swap unlisted shares of partially privatized Vietnamese companies. Participants call this the over-the-counter (OTC) market, a reference to exchanges abroad...
...Trung, the engineer, is rushing to cash in while he can. He expects the unofficial market will eventually be regulated, curbing the potential for instant windfalls. To contain volatility, for example, the Ho Chi Minh Securities Exchange suspends trading in a stock when its price rises or falls by 5% in a day. Gray-market stocks can double in a single deal. "There are no rules on the OTC," says Trung, "so you can get huge profits. That's why we have to take advantage of it now." The madness of crowds, it seems, is alive and well...
...likely create as many or more jobs than they'll destroy, Pincus says, and the influx of new banks will free up credit?now available chiefly to state-owned companies?for capital-starved private businesses. Some Vietnamese businesses even welcome the competition. "I'm not worried," says Ly Qui Trung, founder of Ph? 24, a chain of noodle shops. "We've already got a head start and a strong brand. I think we can compete even against McDonald's." (Trung will have to wait for that matchup; McDonald's says it has no plan to enter Vietnam...
...LASER CUT Furniture or sculpture? The answer was both for the vanguard brother-sister team of Thien and My Ta Trung at Canadian design studio Periphere when they created the all-steel, rococo-esque Iceberg table, with a laser-cut snowflake pattern in bright mirror chrome. In similar fashion is the Conran Shop's Prince chair, with a wool-covered rubber seat and back?originally designed by Louise Campbell for an invitation-only competition to give form to a chair for Denmark's Crown Prince. Swede Monica Forster was inspired by snow crystals and sunbeams when building her zinc-plated...