Traders at VNDirect Securities Company's trading floor. (Photo: VNA)
Hanoi (VNA) - Vietnamese shares extended losses♈ for a third day on January 15 as global crude prices fell to fresh twelve-year lows,🎃 hurting energy stocks.
The benchmark VN Index on the HCM Stock Exchange dropped 1.8 percent to close at 543.04 points. The southern index has dropped 3.8 percent in the last three days.
The northern HNX Index on the Hanoi Stock Exchange fell 0.4 percent to finish at 75.39 points, extending a two-day loss to 1.7 percent.
The energy sector index dropped 0.8 percent after crude prices set new twelve-year lows yesterday. US benchmark crude West Texas Intermediate (WTI) lost 5.1 percent to trade at 29.70 USD a barrel, while the London-traded Brent crude fell 4 percent to trade at 29.71 USD a barrel.
Local energy stocks fell, including PetroVietnam Gas Corporation (GAS), which inched down 0.3 percent, PetroVietnam Drilling and Well Services Corporation (PVD), which fell 1.3 percent, and fuel dealer Petrolimex Gas Corporation (PGC), which was down 1.9 percent.
Investor confidence was also undermined by further losses in Asian stocks following data showing a decrease in Chinese bank lending in December.
As a result, investors put heavy selling pressure on large-cap stocks, including dairy firm Vinamilk (VNM), which was down 0.8 percent, food and beverage producer Masan Group (MSN), which slumped 5.4 percent, and property developer Vingroup JSC (VIC), which fell 1 percent.
Financial firms also helped pull the market down. Insurer Bao Viet Holdings (BVH) slid 3.5 percent, Vietcombank (VCB) slipped 2.9 percent, and the Bank for Investment and Development of Vietnam (BID) declined by 3.8 percent.
The same day, Vietnam's central bank raised the reference mid-point rate for its exchange trading band by 10 VND to 21,917 VND per dollar. However, local banks traded the dollar at lower rate than the day before. For instance, Vietcombank traded the dollar at 22,460 VND, a decrease of 20 VND.
The stock market traded nearly 172 million shares worth 2.2 trillion VND (98.4 million VND), a decrease of 19 percent from the day before and lower than last year's average daily trading value of 111 million USD.-VNA
The stock market will see large improvements on both local markets this year, despite many problems in both local and global economic conditions, said a Vietnam Investment Securities Company analyst.
Vietnamese shares on January 7 pulled back sharply from gains on January 6 on both local bourses as energy stocks were hurt by oil prices hitting new 11-year lows.
Vietnam’s stock market outperformed a number of developed global markets in terms of foreign investment last year, according to Finance Minister Dinh Tien Dung.
Vietnamese shares fell sharply on both local exchanges on January 14 amid above average trading volume as a global stock market rout unnerved investors.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Traders at VNDirect Securities Company's trading floor. (Photo: VNA)
