Vietnamese shares fell on July 8 as investors sought profits from recent gains. (Source: investvine.com)
Hanoi (VNA) - Vietnamese shares fell on July 8 as investors sought profits from recent gains after the markets increased strongly in recent weeks.
The benchmark VN Index on the HCM Stock Exchange dropped 0.4 percent to finish at 658.68 points. The southern market index gained 2.9 percent during the week, beating previous forecasts.
The HNX Index on the Hanoi Stock Exchange retreated 0.7 percent to close at 87.57 points from a five-day rally of 4.1 percent. The northern market index rose 2.8 percent from the previous week.
Investors tried to take profits in blue chips that had increased in the previous sessions, such as banks and securities firms.
Among banks, Saigon-Hanoi Bank (SHB) fell 1.6 percent from a three-day gain of 4.9 percent. Two other large-cap banks, Vietinbank (CTG) and the Bank for Investment and Development of Vietnam (BID), edged down 0.6 percent each.
In the brokerage sector, HCM City Securities Corp (HCM) declined by 0.3 percent after it jumped 12.7 percent in the previous five days, and VNDirect Securities Corp (VND) slid 1.5 percent after it surged one-fifth since June 24.
In the energy sector, PetroVietnam Gas Corp (GAS) slipped 1.5 percent after rising 12.7 percent in the previous nine sessions, PetroVietnam Transportation Corp (PVT) was down 1.3 percent from a two-day gain of 8 percent.
Insurer Bao Viet Holdings (BVH) pulled back 3.2 percent after it had jumped 6.8 percent in the previous five trading days, and BIDV Insurance Corp (BIC) edged down 0.8 percent from a two-day increase of 5.5 percent.
Building material producers such as Tien Phong Plastic JSC (NTP), steel producer Hoa Phat Group (HPG), stone producer Vicostone JSC (VCS), and construction firms like HCM City Infrastructure Investment JSC (CII) and Hoa Binh Construction and Real Estate Corp (HBC) also suffered from profit-taking. These stocks fell between 0.2 percent and 4.2 percent.
On July 8, Vietnam’s central bank cut its daily reference mid-point rate by 7 VND to 21,862 VND for a US dollar. Local banks were able to trade the Vietnamese dong and the dollar within a trading band of 3 percent on either side of the mid-point rate.
Market trading liquidity remained high on July 8. Investors exchanged 210.5 million shares on bot𝐆h local exchanges, worth 4.27 trillion VND (190 million USD), a slight increase from July 7’s trading value.-VNA
The Unlisted Public Company Market (UPCoM) has been in operation for seven years with over 300 enterprises participating and market capitalisation reaching nearly 70 trillion VND (3.2 billion USD).
Vietnamese shares advanced on July 7 as investors were upbeat on an uncertain US interest rate increase and higher oil prices helped energy firms rebound.
The Hanoi Stock Exchange (HNX) has mobilised 212 trillion VND (9.46 billion USD) in Government bonds for the State budget in the first half of this year, said Nguyen Thanh Long, the exchange chairman.
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.
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.
Vietnamese shares fell on July 8 as investors sought profits from recent gains. (Source: investvine.com)
