An investor watches stock developments at a trading platform of Sai Gon Securities Inc in Hanoi (Source: VNA)
Hanoi (VNA) - Vietnamese shares were mixed on ꧟September 5 while large-cap stocks continued to sink on foreign selling.
The benchmark VN Index on the HCM Stock Exchange fell 0.7 percent to close at 664.55 points, extending a loss of 1.5 percent for a second day.
Meanwhile, the HNX Index on the Hanoi Stock Exchange rose 0.2 percent to end at 84.17 points.
Large-cap stocks continued to drive the market down as none of the ten largest shares in terms of capitalisation and trading liquidity made gains.
Among them, dairy firm Vinamilk (VNM), consumer goods producer Masan Group (MSN) and Bank for Investment and Development of Vietnam (BID) ended flat.
Other blue chips that closed in negative territory included Vietcombank (VCB), insurer Bao Viet Holdings (BVH), PetroVietnam Gas Corp (GAS) and Eximbank (EIB).
“The decline of these four large-cap stocks caused the VN Index lose 3.3 points or 0.6 percent of the market,” BIDV Securities Co (BSC) wrote in a report.
Among those four stocks, EIB plummeted 6.3 percent as the HCM Stock Exchange kept the bank among strictly-controlled stocks after the bank has reported a loss of 756.8 billion VND (33.6 million USD) during the first six months.
Foreign net selling also kept the market on edge as their net sell value focused on leading stocks such as VCB, MSN and VNM.
Foreign net sell value reached more than 286 billion VND. Their total net sell value in the past three trading weeks hit 1.43 trillion VND.
Foreign investors’ net sell value came along with the rise of the daily reference mid-point rate set by Vietnam’s central bank on market expectations for a US interest rate hike in September, which has strengthened the dollar against other currencies.
Since August 11, the mid-point rate has increased by 92 VND to 21,925 VND – a favourable condition for foreign investors to take profits from their investments.
“The stock market will not recover if blue chips continue to decline and foreign investors remain as net sellers,” BSC said.
On the positive side, plate-steel makers such as Hoa Sen Group (HSG) and Nam Kim Steel JSC (NKG) advanced 2.3 percent and 1.4 percent after a new anti-dumping tax policy began to take effect on September 1 on imported plate-steel products.
HSG on September 2 was also added into the London-based FTSE Group’s FTSE Vietnam Index for the third-quarter review.
Investors exchanged nearly 152.5 million shares in total, worth 3.2 trillion VND – a slight decrease from last week’s daily trading value.-VNA
Foreign capital inflows into Vietnam’s securities market in the first half of this year increased 3.5-fold on a yearly basis, reaching 722 million USD.
Shares retreated from a five-month high seen in the morning of August 29 as investors increased selling due to caution ahead of portfolio restructuring of large exchange-traded funds.
Shares rose for the third consecutive day on the HCM Stock Exchange on August 30 as investors continued to focus on large-cap stocks in expectation of further market growth.
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Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
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Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
An investor watches stock developments at a trading platform of Sai Gon Securities Inc in Hanoi (Source: VNA)
