Vietnamese shares rise on robust profits for energy companies
Vietnamese shares on October 15 rose on both local exchanges as local energy-related companies reported higher sales and profits in the first three quarters of this year.
Vietnamese shares on October 15 rose on both local exchanges as local energy-related companies reported higher sales and profits in the first three quarters of this year compared to the same period a year ago.
The benchmark VN Index on the HCM Stock Exchange gained 0.4 percent to close at 592.4 points, ending two days of losses, and the HNX Index on the Hanoi Stock Exchange inched up 0.5 percent to 81.14 points, extending its rally for a second day.
Local energy stocks made gains after the Vietnam National Oil and Gas Group (PVN) reported its subsidiaries earned bigger revenues and profits than expected by the company during the first nine months of this year despite a drop in global oil prices over the last year.
US benchmark crude West Texas Intermediate (WTI) fell another 1.4 percent to trade at 46 USD a barrel on October 15. WTI crude fell 15.3 percent over the first nine months of 2015.
Subsidiaries of PVN include PetroVietnam Gas Corporation (GAS), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Mud Drilling Corporation (PVC) and PetroVietnam Fertiliser & Chemicals Corporation (DPM).
The energy sector index was led by GAS, which gained 0.6 percent, PVS rose 1.4 percent, PVC was up 1 percent and DPM jumped 1.5 percent.
The banking sector index rose 0.6 percent after banks proposed the Government reduce State ownership to 51 percent in the three biggest banks on the stock market, which are Vietcombank (VCB), Vietinbank (CTG) and the Bank for Investment and Development of Vietnam (BID).
At the end of August, the State was holding 77.11 percent in VCB, 64.46 percent in (CTG) and 95.28 percent in BID. After that information was published, VCB gained 0.4 percent, CTG rose 2.5 percent and BID ended flat.
On the negative side, some large stocks were undermined by uncertainty about when the State plans to reduce its ownership stakes in those companies, brokerage Saigon Securities Corporation (SHS) said in a report.
Among those shares, Vinamilk (VNM) fell 0.9 percent, FPT Corporation (FPT) dropped 0.2 percent and Binh Minh Plastics Joint Stock Company (BMP) remained flat.
The two local exchanges traded nearly 166 million shares and 2.43 trillion VND (108 million USD), a decrease of 7 percent the previous session. Tan Tao Investment & Industry Corporation (ITA) was the most active stock in the market with more than 6.8 million shares in trading and gained 4.7 percent.-VNA
Shares fell slightly on October 7 on the country's two exchanges, after strong rises in the previous two sessions, as investors awaited the latest company earnings reports.
After a short pause on October 7, shares advanced on the following day on the two markets as investors readied for the release of companies' third quarter earnings reports.
Vietnamese shares on October 13 declined slightly on both local exchanges after a three-day jump as global oil prices fell, dragging local energy stocks down.
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 photo. (Source: VNA)
