Vietnam's benchmark stock index fell for a third day on September 4 as volatile global oil prices undermined the country's energy firms.
On the HCM Stock Exchange, the benchmark VN Index fell 1.4 percent to finish at 554.3 points, its third consecutive loss. Meanwhile, the HNX Index on the Hanoi Stock Exchange closed at 76.58 points, a decline of 0.6 percent.
Stocks were led lower by the energy sector, which fell 2.6 percent. Petrovietnam Gas Corp (GAS), the market's third-largest stock with a capitalisation of 86.6 trillion VND (3.8 billion USD), dropped 4 percent.
Petrovietnam Drilling & Well Service (PVD) and Petrovietnam Coating Co (PVB) were down 2.5 and 4.2 percent, respectively.
Brokerage Saigon-Hanoi Securities said that the global oil prices would remain unstable in short term and would likely not improve sharply in middle and long term.
Crude benchmark West Texas Intermediate has fallen about 6 percent this week to 46.20 USD a barrel after a surge of almost 30 percent during previous weeks.
Investor sentiment was also hurt by a new law regarding foreign ownership of Vietnamese companies. Some investors say the new rules are not clear enough.
Vietnam Dairy Products Co (VNM), Vingroup Corp (VIC), Ma San Group (MSN) and Bao Viet Holdings (BVH) were down 0.5 percent, 1.0 percent, 1.3 percent and 4.4 percent, respectively.
Daily trading on the two local bourses reached more than 144.6 million shares in volume and nearly 2.2 trillion VND (97 million USD) in value on September 4.
HAI Agrochem Co (HAI) and Kim Vi Inox Import-Export Production (KVC) were the most active shares on the two bourses with more than 5.5 million and three million shares traded.-VNA
Vietnamese shares were volatile on August 25, but ended higher as bargain hunters helped the market regain part of Monday (August 24)'s big loss, although the global situation has yet to improve.
Shares rose on August 26 on the two Vietnamese exchanges, prompted by an improvement in investor confidence, although shares across Asia were mixed after a fresh rate cut by the People's Bank of China
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.
Illustrative image (Source: VNA)
