Vietnamese shares were mixed on August 8 while investor confidence in the market prospects remained low, pulling market trading to its lowest level since mid-February.
Hanoi (VNA) – Vietnamese shares were mixed on August 8 while investor confidence in the market prospects remained low, pulling market trading to its lowest level since mid-February.
The benchmark VN Index on the HCM Stock Exchange was volatile before rebounding 0.3 percent from a month’s low hit on August 5 to close at 629.46 points.
Late buying in some large-cap and mid-cap stocks was the major factor that drove the index upwards after investors were cautious with the market prospects in the previous sessions, Saigon-Hanoi Securities Corp (SHS) said in a report.
Blue chips that had a positive impact on the market were Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB), PetroVietnam Gas Corp (GAS) and PetroVietnam Drilling and Well Services Corp (PVD).
Market speculations helped VCB advance 2 percent after both international and local media on August reported that the bank may sell a 7 percent stake to Singapore’s investment fund GIC Private Equity.
GAS and PVD respectively added 1.6 percent and 1.7 percent as crude prices continued their recovery from the 3.5-month low hit on August 2.
US crude and Brent crude gained 1.5 percent and 1.4 percent to trade at 42.44 USD and 44.87 USD a barrel, totaling increases of 7.4 percent and 7.3 percent over the last four sessions.
Hoang Anh Gia Lai JSC (HAG) and its subsidiary Hoang Anh Gia Lai International Agriculture JSC (HNG) increased by 3.9 percent and 1.8 percent after HNG cleared speculations on being delisted from the stock market.
However, other smaller companies with negative business conditions continued to weigh on investor confidence, including Japan Vietnam Medical Instrument JSC (JVC) and Truong Thanh Furniture Corp (TTF).
JVC slumped 6.1 percent after the company published the audited financial report for the fiscal year of 2015-16, which recorded a loss of 1.33 trillion VND (59.3 million USD).
TTF plunged another 6.8 percent as the company was limited in trading after it failed to provide shareholders with clarification on 980 billion VND in missing inventories. TTF has plummeted two-thirds since July 19.
The HNX Index on the Hanoi Stock Exchange inched down 0.1 percent to end at 80.99 points, extending a loss of 3.2 percent for a sixth session.
Weak investor sentiment continued to k🔴eep market trading liquidity low. Both local bourses traded some 121.5 million shares worth 1.87 trillion VNDꦇ – the lowest trading value since the stock market returned to trading almost six months ago.-VNA
Shares lost most of the value gained in morning session on August 4 as increased investor selling in the afternoon eroded confidence in the ongoing rally.
PVI Holdings continued to maintain its top position in the field of non-life insurance with revenue hitting 4.17 trillion VND (187.65 million USD) in the first half of 2016.
Singapore government’s investment fund GIC Private Limited (GIC) is negotiating to buy at least 7 percent of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
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.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
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.
Illustrative image (Source: VNA)
