Vietnamese shares fell for a third straight day on August 13 amid fears the country's exporters could lose competitiveness because of a sharp depreciation of China's currency.
A trader follows the trading at the FPT Securities exchange floor. The VN Index slid by 10 points to mark the third straight declining session. Photo: VNS
Vietnamese shares fell for a third straight day on August 13 amid fears the country's exporters could lose competitiveness because of a sharp depreciation of China's currency.
China's central bank has devalued the yuan by nearly 5 percent this week. Vietnam allowed for a 1 percent devaluation on August 12, but investors are worried that move may not be enough to keep local producers competitive with regional rivals.
"China's decision can set a bad precedent in exchange rate management," said Nguyen Van Quy, a stock analyst at FPT Securities Company. "Investors wonder if the Vietnamese central bank will continue to adjust its exchange rate policy."
The benchmark VN-Index on the HCM Stock Exchange lost 10 points, or 1.7 percent, to close the session at 594.26 points. The index is down almost 8 percent since peaking at 640 in late July.
"I think the VN-Index will likely move to around 570 to 580 points in the short-term," Quy said.
Over 60 percent of the index's 308 stocks slumped while only 44 shares gained and 78 were unchanged. Liquidity rose slightly from August 12, totaling 126.5 million shares worth 2.25 trillion VND (103.2 million USD).
On the Hanoi Stock Exchange, the HNX-Index fell 1.6 percent to finish at 81.43 points on August 13, the lowest since May 26, 2015. Just 47 stocks rose, 145 declined and 171 were unchanged.
Trading volume dropped 20 percent from the previous session to 474.3 billion VND (21.8 million USD).-VNA
Vietnamese shares tumbled for the second day on August 12, following the information that China had devalued its currency twice in two days, forcing the SBV to revise the exchange rate band.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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.
A trader follows the trading at the FPT Securities exchange floor. The VN Index slid by 10 points to mark the third straight declining session. Photo: VNS
