Hanoi (VNA)🌺 - Vietnamese shares on January 25 enjoyed their biggest jump in almost four years as energy stocks benefited from a strong rebound in global oil prices.
The benchmark VN Index on the HCM Stock Exchange jumped 3.9 percent to close at 542.35 points, the largest one-day increase since March, 2012. The HNX Index on the Hanoi Stock Exchange rose 3.4 percent to end at 76.35 points and has gained 4.5 percent in the past two sessions.
Global oil prices on January 25 slid after the state-owned Saudi Arabia Oil Company signaled it would not cut production. US benchmark crude West Texas Intermediate (WTI) and London-traded Brent crude lost 3.6 percent and 3.5 percent, respectively, to trade at nearly 31 USD a barrel.
However, the WTI price has risen nearly 17 percent since it touched a twelve-year low at 26.55 USD a barrel on January 20, and Brent crude price has gained 11.4 percent from its twelve-year low of 27.88 USD hit on the same day.
The energy sector surged 4.4 percent to extend gains from a jump of 3.1 percent on January 22. Energy stocks that made gains included PetroVietnam Drilling and Well Services Corporation (PVD), which surged 6.7 percent, and PetroVietnam Technical Services Corporation (PVS), which jumped nearly 10 percent.
In addition to higher oil prices, PetroVietnam Gas Corporation (GAS) jumped 6.9 percent and fuel dealer Petroleum Gas Corporation (PGC) was up 1.9 percent after the two firms reported profits during last year.
Meanwhile, investors were upbeat after the European Central Bank and Japan's central bank signaled they may implement stimulus measures in the near future.
The stock markets received a strong boost from the banking sector with Vietcombank (VCB) jumping 5.3 percent, and the Bank for Investment and Development of Vietnam (BID) and Vietinbank (CTG) surging 6.8 percent and 6.7 percent, respectively.
On January 25, Vietnam's central bank raised its reference mid-point rate for exchange trading band by 2 VND to trade 21,910 VND for a US dollar. The mid-point rate has risen 20 VND since the beginning of the year.
Other stocks that also helped push the markets higher included dairy firm Vinamilk (VNM), which gained 3.5 percent, and agricultural firm Hoang Anh Gia Lai JSC (HAG), which rose 6.3 percent. HAG also made gains after Vietnam's central bank denied rumours that the bank was investigating the company.
Both local bourses traded more than 211 million shares worth nearly 2.9 trillion VND (128.5 million USD), an increase of nearly a fifth from last week's daily trading value and higher than last year's daily trading value.-VNA
The stock market will see large improvements on both local markets this year, despite many problems in both local and global economic conditions, said a Vietnam Investment Securities Company analyst.
Vietnam’s stock market outperformed a number of developed global markets in terms of foreign investment last year, according to Finance Minister Dinh Tien Dung.
Vietnamese shares fell sharply on both local exchanges on January 14 amid above average trading volume as a global stock market rout unnerved investors.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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.
Illustrative image (Source: VNA)
