Investors at Hoang Gia Securities trading floor (Photo: VNA)
Hanoi (VNA) ꧂- Vietnamese shares extended gains on both local exchanges for a second day on March 2, led by financial firms such as banks and insurance companies.
The benchmark VN Index on the HCM Stock Exchange rose 1.5 percent to close at 570.18 points, extending its two-day gains to 1.9 percent.
The HNX Index on the Hanoi Stock Exchange added 0.4 percent to finish at 79.30 points. The northern index gained 0.7 percent over the last two sessions.
Local market indices kept pace with the growth of global stock markets during March 2's trading session after the US announced economic data that beat expectations, Saigon-Hanoi Securities Corporation (SHS) wrote in the daily report.
Improved US economic data lifted investor confidence, easing fears of a weaker Vietnamese dong against the US dollar. On March 2, Vietnam's central bank cut the reference mid-point rate slightly by 2 VND to 21,905 VND per US dollar.
A stronger Vietnamese dong and better investor confidence benefited local financial stocks, including banks and insurance companies.
The four largest banks made big gains in the markets. Vietinbank (CTG) rose 1.7 percent, Sacombank (STB) added 1.8 percent, Vietcombank (VCB) increased by 2.4 percent, and the Bank for Investment and Development of Vietnam (BID) jumped 3.3 percent.
In the insurance sector, Bao Viet Holdings (BVH) surged 6.7 percent, BIDV Insurance Corporation (BIC) went up by 6.3 percent, and Bao Minh Insurance Corporation (BMI) jumped 4.4 percent.
Other stocks that use oil products as their input materials for production also made gains after crude oil prices declined on March 2.
US benchmark crude West Texas Intermediate (WTI) fell 2.2 percent to trade at 33.66 USD a barrel and London-traded Brent crude dropped 1 percent to trade at 36.44 USD a barrel.
Binh Minh Plastic JSC (BMP) gained 2.2 percent, Tien Phong Plastic JSC (NTP) added 2.4 percent, and PetroVietnam Fertiliser and Chemicals Corporation (DPM) leaped 2.8 percent.
Investors traded nearly 204 million shares worth nearly 3 trillion VND (132 million USD) on March 2, an increase of 9.3 percent from March 1's trading value.-VNA
Vietnamese shares retreated on February 25 on both local markets, while the benchmark VN Index fell after growing for five consecutive days as investors took profits from recent advancing sessions.
Vietnamese shares rebounded on both local exchanges on February 26 as energy stocks advanced on expectations that a meeting between the world's biggest oil producers will boost prices.
Vietnamese shares rose on both local bourses on March 1 as investor confidence improved after China cut its reserve requirement ratio to boost trading liquidity in the banking sector.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
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.
Investors at Hoang Gia Securities trading floor (Photo: VNA)
