Hanoi (VNA) - Vietnamese shares retreated on both local bourses on March 8 as energy stocks declined on profit-taking and a slꦛide in crude prices.
The benchmark VN Index on the HCM Stock Exchange dropped 0.3 percent to close at 574.71 points, ending a rally of 3 percent in the previous five days.
The HNX Index on the Hanoi Stock Exchange fell 0.8 percent to finish at 79.12 points. The northern index had risen 0.6 percent during the previous two trading sessions.
Energy stocks started to fall as crude prices edged down on estimates that US stockpiles may grow and after Kuwait said on the day that it would only agree with other producers on a production freeze if all oil exporters take part in the action.
US benchmark West Texas Intermediate (WTI) lost 0.6 percent to trade at 37.67 USD a barrel and London-traded Brent crude dropped 0.4 percent to trade at 40.69 USD a barrel.
WTI has surged nearly 40 percent in the last two months and Brent crude had jumped nearly 18 percent during the last two trading weeks on expectations that the Organisation of Petroleum Exporting Countries (OPEC) and the world’s top exporters will reduce oil production to save prices.
Among local energy stocks, PetroVietnam Gas Corporation (GAS) fell 2.5 percent, and PetroVietnam Drilling and Well Service Corporation (PVD) slipped 1.9 percent. GAS had risen 18 percent in the previous seven trading days.
Additionally, banks also helped pull down both markets after China on the day announced its exports had the heaviest fall in February, raising concerns over a weaker Chinese yuan against the US dollar, which may put pressure on other currencies including the Vietnamese đồng.
The banking sector was led down by the Asia Commercial Bank (ACB), which slumped 4.1 percent; Vietcombank (VCB), which dropped 0.5 percent; the Bank for Investment and Development of Vietnam (BID) and Vietinbank (CTG), which lost 0.6 percent each; and Sacombank (STB), which slid 1 percent.
On the positive side, steel makers such as Hoa Sen Group (HSG), Hoa Phat Group JSC (HPG), Vietnam-Italy Steel JSC (VIS) and Tien Len Steel Group JSC (HTL) advanced after the Ministry of Industry and Trade on Monday issued a decision to temporarily protect local steel producers against cheap imported steel products.
At the end of the session, HSG rose 2.9 percent, HPG jumped 3.9 percent, VIS surged 6.6 percent and HTL advanced 5.7 percent.
Both local markets traded more than 203 million shares worth 3.2 trillion VND (144.3 million USD), a slight increase from March 7’s trading value.-VNA
Vietnamese shares advanced on both local trading bourses on March 4 after the previous day’s mixed session as rubber stocks rose on higher rubber prices in global trading.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Illustrative photo (Source: VNA)
