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Economy

Vietnam, India and the Philippines are Asia's new VIP stock markets

Development projects are underway in central Manila.

HO CHI MINH CITY -- Toshifumi Sugimoto, senior executive officer of Capital Asset Management, started the morning of Sept. 23 in Ho Chi Minh City with a hasty call to a trader in Japan. He put in a buy order for as many shares of major Vietnamese IT company FPT as possible, having just learned that its foreign-owned stake was up for sale.

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