Shares rebounded on both markets in Hanoi and Ho Chi Minh City on February 18 as energy stocks made big gains after Iran backed a Saudi-led proposal to freeze crude output at current levels.
Hanoi (VNA) -🐷 Shares rebounded on both markets in Hanoi and Ho Chi Minh City on February 18 as energy stocks made big gains after Iran backed a Saudi-led proposal to freeze crude output at current levels.
The benchmark VN Index on the HCM Stock Exchange rose 1 percent to close at the one-month high of 552.49 points and the HNX Index on the Hanoi Stock Exchange added 0.7 percent to end at 78.00 points.
Crude extended gains for a second day after Iran showed its support for an agreement on a production freeze between top oil exporting countries, including Russia, Venezuela and Saudi Arabia.
US benchmark crude West Texas Intermediate (WTI) rose 2 percent to trade at 31.28 USD a barrel on the day. It has gone up 19 percent since hitting a 12-year low last week.
Meanwhile, London-traded Brent crude increased by 1 percent to trade at 34.86 USD a barrel. Brent has gained 16 percent over the last five sessions.
The energy sector index rose 2.6 percent. Among gainers, PetroVietnam Gas Corporation (GAS), PetroVietnam Technical Service Corporation (PVS) and PetroVietnam Mud Drilling Corporation (PVC) jumped 5.8 percent, 3.4 percent and 4.6 percent, respectively.
The banking sector index added 1.3 percent, the brokerage sector index rose 1 percent and the insurance sector index was up 0.8 percent.
Vietcombank (VCB) went up 1.3 percent, Vietinbank (CTG) gained 1.8 percent, insurer PVI Holdings (PVI) rose 1.6 percent and Saigon Securities Incorporate (SSI) leaped 1 percent.
Both local markets exchanged nearly 169 million shares worth 2.5 trillion VND (111.5 million USD), a decrease of 12 percent from February 17’s trading value.-VNA
Vietnamese shares fell sharply on both local exchanges on January 14 amid above average trading volume as a global stock market rout unnerved investors.
The net sale of shares worth 1.25 trillion VND (56.2 million USD) by foreign investors in January contributed significantly to the decline of the stock market last month.
Vietnam’s securities sector reaped satisfactory results in 2015, thanks to its strong measures to attract external capital flows and through the restructuring of the stock market system.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
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.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
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.
Illustrative image (Source: VNA)
