Vietnamese shares retreated on February 2 from gains on January 29 on both local markets as fears that the Vietnamese dong may weaker hurt financial firms.
Hanoi (VNA) ꧂– Vietnamese shares retreated on February 2 from gains on January 29 on both local markets as fears that the Vietnamese dong may weaker hurt financial firms.
The benchmark VN Index on the HCM Stock Exchange dropped 0.9 percent to close at 540.56 points and the HNX Index on the Hanoi Stock Exchange fell 0.8 percent to end at 76.24 points.
The financial sector declined after Chinese industrial production in January slowed to its lowest pace in almost three-and-a-half years, suggesting the country could further weaken its currency and provide more policy easing to help its economy.
A weaker Chinese yuan will put pressure on the Vietnamese dong, pushing Vietnam's central bank to consider weaken its currency in order to assure local products stay competitive in overseas markets.
On February, Vietnam's central bank raised the reference mid-point rate for its exchange trading band by 11 VND to 21,892 VND per US dollar with 3 percent limit on either side of the mid-point rate for local banks to decide their exchange prices.
The indices for banks, insurance firms and brokerage companies fell 1.5 percent, 1.8 percent and 1 percent, respectively.
Among banks, Vietcombank (VCB) lost 1.7 percent, the Bank for Investment and Development of Viet Nam (BID) slumped 3 percent, and Saigon-Hanoi Bank (SHB) dropped 1.5 percent.
Other financial companies such as insurer Bao Viet Holdings (BVH), brokerage firm Saigon Securities Incorporation (SSI) and VNDirect Securities Corporation (VND) slipped 2 percent, 1 percent and 2.6 percent, respectively.
Meanwhile, the energy sector index dropped 1.3 percent on February 1 as global oil prices declined after the Organisation of Petroleum Exporting Countries (OPEC) said it produced more than 33 million barrels a day in January, the highest volume in the last six years.
US benchmark crude West Texas Intermediate (WTI) lost 1.6 percent to trade at 33.08 USD a barrel after it had gained 11 percent during the previous four sessions.
London-traded Brent crude was down 0.6 percent to trade at 35.77 USD a barrel. It had risen 14 percent in the previous four sessions.
Among energy stocks, PetroVietnam Gas Corporation (GAS) on February 1 fell 4.3 percent, PetroVietnam Technical Services Corporation (PVS) dropped 4.6 percent, and PetroVietnam Mud Drilling Corporation (PVC) lost 2.1 percent.
GAS had surged one-third in the previous six sessions, while PVS had risen 14.6 percent and PVC had jumped a fourth.
Both markets traded more than 143 million shares worth 2.1 trillion VND (94 million USD), a decrease of 12 percent from last week's daily trading value.-VNA
Vietnamese shares on January 27 rebounded on both local markets from previous day's drop as energy stocks extended rallies amid volatile crude oil prices.
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.
Illustrative image (Source: VNA)
