An investor watches share movements in the floor of Vietcombank Securities Co. (Photo: VNS/VNA)
Hanoi (VNA) - Vietnamese shares on January 21 dropped for a second day and a sixth session in seven as energy stocks extended lo꧂sses amid lower global oil prices.
The benchmark VN Index on the HCM Stock Exchange fell 1.4 percent to close at 521.88 points and the HNX Index on the Hanoi Stock Exchange lost 1.2 percent to end at 73.06 points.
The southern index has dropped 2.6 percent and the northern index has declined by 1.7 percent in the last two sessions.
The energy sector plunged again after global oil prices slid further. US benchmark crude West Texas Intermediate (WTI) lost 1.3 percent to trade at 27.99 USD a barrel and London-traded Brent crude fell 1 percent to trade at 27.61 USD a barrel.
Vietnam's biggest energy stock, PetroVietnam Gas Corporation (GAS), dropped 2.3 percent, PetroVietnam Drilling and Well Services Corporation (PVD) slumped 5.7 percent, and Petroleum Equipment Assembly and Metal Structure JSC (PXS) slipped 6.3 percent.
In addition, investor sentiment was also undermined by another slide in Asian stocks following a sell-off in US stock markets as fears of a slowdown of China's economy sent Japanese stocks down 2.4 percent and Chinese stocks falling 3.2 percent.
The biggest Vietnamese banks, such as Vietcombank (VCB), the Bank for Investment and Development of Vietnam (BID), and Vietinbank (CTG), also fell. These stocks were down 1.5 percent, 6.5 percent and 3 percent, respectively.
Leading stocks in other sectors such as the insurance sector, the construction sector and the brokerage sector also declined.
Insurer Bao Viet Holdings (BVH) lost 1.5 percent, construction firm Refrigeration Electrical Engineering Corporation (REE) fell 1.7 percent, and HCM Securities Corporation (HCM) decreased by 2.3 percent.
The market trading value on January 21 was 2.3 trillion VND (102.8 million USD) with more than 196 million shares, a slight increase from previous day's figures.-VNA
Vietnamese shares rebounded on January 19 from a recent slump as investor confidence was buoyed by optimism that the slowdown of the Chinese economy may spur stimulus measures.
The Korean Exchange (KRX), the operator of Korea’s Securities and Derivatives Markets, said it had set up a working group of financial and legal experts to attract Vietnamese enterprises to the KRX.
The local stock market suffered losses amounting to billions of dollars on a single day on January 18, while the State Securities Committee (SSC) asked investors to be cautious about selling shares.
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.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
An investor watches share movements in the floor of Vietcombank Securities Co. (Photo: VNS/VNA)
