An investor keeps track of stock movements. (Photo: VNA)
Hanoi (VNA) – Vietnamese shares rose on both local markets on May 16, beating the earlier forecast as energy stocks benefited from ꧑higher oil prices.
The benchmark VN Index on the HCM Stock Exchange gained 0.8 percent to close at 615.78 points, rebounding from a two-day decline of 0.5 percent.
The HNX Index on the Hanoi Stock Exchange added 0.6 percent to end at 81.75 points, extending a four-day gain totalling 1.9 percent.
Local energy stocks on May 16 made good gains as oil prices bounced back from losses on May 13 on expectations that the market will reach a deficit earlier than expected.
US crude West Texas Intermediate (WTI) advanced 1.7 percent to reach a six-month high of 47.01 USD a barrel, and London-traded Brent crude was up 1.9 percent to trade at 48.73 USD a barrel.
In the energy sector, the largest stocks such as PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Technical Service Corp (PVS) jumped between 2.6 percent and 5.7 percent.
Other blue chips also helped boost the two bourses on May 16, including dairy firm Vinamilk (VNM) and property developer Vingroup JSC (VIC).
VNM increased by 1.4 percent after the State Capital and Investment Corp (SCIC) announced it will buy 500,000 of Vinamilk's shares.
VIC rose 2.8 percent after the giant property-retail corporation got approval from Hanoi's authorities to build a new apartment-shopping-entertainment complex in the city.
Other blue chips such as Vietcombank (VCB), Sacombank (STB), insurer Bao Viet Holdings (BVH), consumer goods producer Masan Group (MSN) and Saigon Securities Inc (SSI) also provided good support for the markets.
VCB rebounded 1.5 percent from May 13’s decline, STB jumped 3.4 percent to extend its rally of 17.5 percent for a third day, BVH and MSN added 0.9 percent and 0.7 percent respectively, while SSI gained 2 percent.
Other large-cap stocks that made gains on the two local exchanges were An Phat Plastic and Green Environment JSC (AAA), Asia Commercial Bank (ACB) and HCM City Securities Corp (HCM).
Both local exchanges traded more than 151 million shares worth nearly 2.5 trillion VND (110.5 million USD), a decrease of 18 percent from last week's daily trading value-VNA
Local shares posted mixed results on May 10 on the two exchanges, foreign investors returned to their net buy in the southern bourse of the HCM Stock Exchange.
Vietnamese markets ended with mixed results at the end of the May 12 trading, while banks ran into profit-taking and energy companies benefited from higher oil prices.
Vietnamese shares on May 13 again closed mixed on the two local exchanges, erasing gains made earlier during the day while a recent sharp increase in oil prices boosted energy stocks.
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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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.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
An investor keeps track of stock movements. (Photo: VNA)
