Strong declines among blue chips on July 29 afternoon erased morning gains and dragged down the benchmark VN-Index by 1.07 percent to close the session at 624.70 points.
Strong declines among blue chips (Photo:en.vietstock.com)
Strong declines among blue chips on July 29 afternoon erased morning gains and dragged down the benchmark VN-Index by 1.07 percent to close the session at 624.70 points.
The market condition on the HCM Stock Exchange was negative as losers outnumbered gainers by 130-84, while other 92 stocks ended flat. Only two of the top 30 shares by market value and liquidity gained value while 24 plummeted, including heavy-weight stocks such as Vietinbank (CTG), Vietcombank (VCB), Sacombank (STB), Eximbank (EIB), Masan Group (MSN), VinGroup (VIC), and Saigon Securities Inc (SSI) with decreases between 0.6-2.2 percent.
The VN30 dropped 1.27 percent to stand at 651.21 points.
According to analysts, the previous rally was mainly driven by the growth of several major blue chips, but it was not been built on a sustainable foundation.
Therefore, they added, a downward correction was essential for the market to accumulate enough valuation to go further.
However, there are views that the ongoing crash on the Chinese stock market and impending interest rate hike by the Fed impacted foreign trades and dampened domestic sentiment.
Foreign investors continued to sell local stocks on July 29 in the two markets. They sold a net value of 113.3 billion VND (5.2 million USD) in HCM City, a rise of 32 percent over July 28. Their net sell value also nearly tripled the previous session in Hanoi, reaching 6.7 billion VND (307,300 USD).
Overall liquidity declined substantially. Trading volume was down 26 percent to more than 114 million shares while the market value fell 33 percent to reach 2.16 trillion VND (99.1 million USD).
FLC Group (FLC) remained the most active with 10.8 million shares traded, climbing 2.6 percent to end at 8,000 VND a share.
On the Hanoi Stock Exchange, the HNX-Index also edged down 0.55 percent to finish the session at 85.11 points.
Banks such as the Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB) weighed the bourse down while purchasing power also weakened because of growing caution. The market volume on July 29 decreased 10 percent from previous day, totalling nearly 46 million shares, while value of trades was 20 percent lower at 526.3 billion VND (24.1 million USD).
Speculative KLF Joint Venture Global Investment Co (KLF) was the leading stock in term of volume with nearly seven million shares, rising 1.75 percent to close at 5,800 VND a share.
FLC Joint Venture Global Investment Joint Stock Company (KLF), the most active on the measure wღithౠ seven million shares traded, rose 1.75 percent to end at 5,800 VND.-VNA
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
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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.
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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.
Strong declines among blue chips (Photo:en.vietstock.com)
