Investors attend a stock auction session at Haboi Stock Exchange (Photo: VNA)
Hanoi (VNA)𒁃 - Vietnamese shares slipped for a second day on February 2 on the two local exchanges as energy stocks fell amid declining oil prices.
The benchmark VN Index on the HCM Stock Exchange lost 0.8 percent to close at 536.45 points. The southern index has declined by 1.6 percent in the past two days.
The HNX Index on the Hanoi Stock Exchange was down 0.5 percent to end at 75.86 points, extending its two-day decline to 1.3 percent.
The energy sector index lost 2.1 percent on the day, pulling the markets down, as global crude prices dropped amid waning hope for production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producers.
US benchmark crude West Texas Intermediate (WTI) lost another 3.3 percent to trade at US$30.58 a barrel while London-traded Brent crude fell 3.1 percent to $33.17 a barrel.
WTI price has slipped 9 percent in two days and Brent crude price has slid 4.5 percent.
Local energy stocks recorded big losses. PetroVietnam Gas Corporation (GAS) slumped 4 percent, PetroVietnam Drilling and Well Services Corporation (PVD) lost 4.3 percent and PetroVietnam Mud Drilling Corporation (PVC) fell 5.8 percent.
Meanwhile, both local markets were also driven down as investors were worried about a possible weaker Vietnamese dong in order to guarantee competitiveness for local-made products after the two largest economies, the US and China, announced low industrial production pace for January.
Vietnam's central bank raised its reference mid-point rate for exchange trading band by 2 VND to trade 21,894 VND for a US dollar with a limit of 3 percent on either sides for local banks to decide their trading values. The mid-point rate has increased 13 VND in two days.
The banking sector index inched down 0.3 percent, led by Vietcombank (VCB), BIDV (BID) and Sacombank (STB), which dropped 0.7 percent, 0.6 percent and 0.9 percent, respectively.
The two local markets traded more than 128 million shares worth 1.7 trillion VND (76.8 million USD), a decrease of 18 percent from the figure recorded on February 1.-VNA
Vietnamese shares on January 27 rebounded on both local markets from previous day's drop as energy stocks extended rallies amid volatile crude oil prices.
Vietnamese shares fell on both local bourses on January 28 as investors worried that a possible US central bank interest rate hike in March could help weaken the local currency.
Vietnamese shares retreated on February 2 from gains on January 29 on both local markets as fears that the Vietnamese dong may weaker hurt financial firms.
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.
Investors attend a stock auction session at Haboi Stock Exchange (Photo: VNA)
