Vietnam has threatened to shut down Facebook in the country if it does not bow to government pressure to censor more local political content on its platform, a senior official at the U.S. social media giant told Reuters.
Facebook complied with a government request in April to significantly increase its censorship of “anti-state” posts for local users, but Vietnam asked the company again in August to step up its restrictions of critical posts, the official said.
“We made an agreement in April. Facebook has upheld our end of the agreement, and we expected the government of Vietnam to do the same,” said the official, who spoke on condition of anonymity citing the sensitivity of the subject.
“They have come back to us and sought to get us to increase the volume of content that we’re restricting in Vietnam. We’ve told them no. That request came with some threats about what might happen if we didn’t.”
The official said the threats included shutting down Facebook altogether in Vietnam, a major market for the social media company where it earns revenue of nearly $1 billion, according to two sources familiar with the numbers.
Facebook has faced mounting pressure from governments over its content policies, including threats of new regulations and fines. But it has avoided a ban in all but the few places where it has never been allowed to operate, such as China.
In Vietnam, despite sweeping economic reform and increasing openness to social change, the ruling Communist Party retains tight control of media and tolerates little opposition. The country ranks fifth from bottom in a global ranking of press freedom compiled by Reporters Without Borders.
Vietnam’s foreign ministry said in response to questions from Reuters that Facebook should abide by local laws and cease “spreading information that violates traditional Vietnamese customs and infringes upon state interests”.
A spokeswoman for Facebook said it had faced additional pressure from Vietnam to censor more content in recent months.
In its biannual transparency report released on Friday, Facebook said it had restricted access to 834 items in Vietnam in the first six months of this year, following requests from the government of Vietnam to remove anti-state content.
Facebook continues to confront election rated censorship controversies. However, it remains a staple in technology and a blue-chip stock with enticing upside.
Our AI systems rated Facebook C in Technicals, B in Growth, B in Low Volatility Momentum, and B in Quality Value. The stock closed down 6.31% to $263.11 on volume of 47,299,002 vs its 10-day price average of $274.26 and its 22-day price average of $269.78, and is up 25.42% for the year.
Revenue grew by 11.71% in the last fiscal year and grew by 94.27% over the last three fiscal years, Operating Income grew by 19.88% in the last fiscal year and grew by 42.33% over the last three fiscal years, EPS grew by 36.52% in the last fiscal year and grew by 62.85% over the last three fiscal years.
Revenue was $70697.0M in the last fiscal year compared to $40653.0M three years ago, Operating Income was $23986.0M in the last fiscal year compared to $20203.0M three years ago, EPS was $6.43 in the last fiscal year compared to $5.39 three years ago, and ROE was 19.96% in the last year compared to 23.86% three years ago.
Forward 12M Revenue is expected to grow by 16.71% over the next 12 months, and the stock is trading with a Forward 12M P/E of 26.3.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 294.71.
The projected lower bound is: 251.37.
The projected closing price is: 273.04.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 25.1968. This is not an overbought or oversold reading. The last signal was a sell 8 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 48.99. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 54 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -53. This is not a topping or bottoming area. The last signal was a sell 8 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed up 0.970 at 272.940. Volume was 100% below average (consolidating) and Bollinger Bands were 16% narrower than normal.
Open High Low Close Volume 271.025 273.470 269.190 272.940 1,542
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 277.20 268.57 231.14 Volatility: 35 51 60 Volume: 14,651,270 20,545,932 24,021,452
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FACEBOOK INC A is currently 18.1% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of FB.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on FB.O and have had this outlook for the last 1 periods.