Shares rebounded on November 7 from a three-day decline on both local exchanges on higher investor confidence after the US authorities cleared Hillary Clinton of criminal charges.
Investors at the trading platform of Saigon Securities Inc. (Photo: VNA)
Hanoi (VNA) - Shares rebounded on November 7 from a three-day decline on both local exchanges on higher investor confidence after the US authorities cleared Hillary Clinton of criminal charges, boosting her chances in the looming presidential election.
The benchmark VN Index on the HCM Stock Exchange added 1.1 percent to close at 674.14 points, after falling 1.5 percent during the previous three sessions.
The HNX Index on the Hanoi Stock Exchange gained 0.8 percent to end at 81.09 points, recovering from a three-day loss of 2.2 percent.
The market opened a new trading week with higher sentiment after the Federal Bureau of Investigation (FBI) on Sunday said no charges would be brought against Hillary Clinton, who is running to be the next US President.
"The news sent Vietnam's stock indexes higher during the November 7 session while the world's stock markets also had a positive trading day," BIDV Securities Corp (BSC) wrote in its daily report.
It also boosted the chances for Hillary to win the US Presidential election, which takes place today. "If Hilary wins the election, the world's stock markets will benefit from her win in the short term," Bao Viet Securities Corp (BVSC) said in a note.
Better investor sentiment boosted the performance of finance-banking stocks yesterday. Among nine listed banks, six made gains, with Vietcombank (VCB) being the best gainer with a jump of 3.6 percent.
Other financial stocks such as insurer Bao Viet Holdings (BVH), BIDV Insurance Corp (BIC), HCM Securities Corp (HCM), Sai Gon-Ha Noi Securities Corp (SHS) and Sai Gon Securities Inc (SSI) also advanced.
The energy sector also contributed to the market's gains after Russia said it would co-operate with the Organisation of Petroleum Exporting Countries (OPEC) to reduce crude production and help re-balance the market.
ꦗ Top oil and gas producers on the stock market increased, such as PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Services Corp (PVD) and PetroVietnam Technical Services Corp (PVS). Those stocks were up 2.4 percent, 1.1 percent and 1.7 percent, respectively.
Market trading liquidity remained low compared to last week's daily average trading with more than 135.6 million shares in trading worth 2.04 trillion VND (90.67 million USD) as investors were unwilling to make investments following some estimates saying that total margin lending in the market was about 22 trillion VND, an increase of 20 percent from the beginning of the year.-VNA
Shares declined on October 31 after a two-day rise as large-cap stocks, led by oil and gas stock, lost steam due to negative earnings as well as volatile oil prices.
The State Bank slashed 6 VND off the reference exchange rate on November 4, marking the fifth consecutive day of reduction with a total decrease of 33 VND.
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.
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.
Investors at the trading platform of Saigon Securities Inc. (Photo: VNA)
