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.
Investors at the SSI stock exchange floor in Hanoi. (Photo: VNA)
Hanoi (VNA) - Vietnamese shares on January 7 pulled back sharply from gains on January 6 on both local bourses as energy stocks were hurt by oil prꦗices hitting new 11-year lows.
The benchmark VN Index on the HCM Stock Exchange fell 1.6 percent to close at 565.36 points and the HNX Index on the Hanoi Stock Exchange dropped 2 percent to finish at 77.15 points.
The US benchmark crude West Texas Intermediate (WTI) yesterday lost 2.4 percent to trade at a new eleven-year-low of 33.17 USD a barrel. The WTI crude price has fallen nearly 10 percent in the past three days.
The fall of global oil prices was caused by a slowdown of the Chinese economy, the dispute between Iran and Saudi Arabia, who are the two biggest crude exporters in the world, and a stronger US dollar in global markets.
The energy sector index suffered from the sharp fall of WTI crude and retreated by 4.3 percent, led by PetroVietnam Gas Corporation (GAS), which dropped 5 percent, PetroVietnam Drilling and Well Services Corporation (PVD), which slumped by 6.9 percent, and gas dealer Petrolimex Gas Corporation (PGC), which was down 0.9 percent.
Large-cap stocks continued to be sold strongly during the session. Dairy firm Vinamilk (VNM) lost 1.6 percent, while insurer Bao Viet Holdings (BVH) and brokerage company Sai Gon Securities Incorporate (SSI) each fell 2.8 percent.
A weaker Vietnamese dong also weighed on banks after Vietnam's central bank raised the reference point for its exchange trading band by 12 VND to trade 21,919 VND for a US dollar.
The banking sector index lost 1.9 percent, led by Vietcombank (VCB), which was down 1.2 percent, Vietinbank (CTG), which declined by 1.1 percent and the Bank for Investment and Development of Vietnam (BID), which dropped sharply by 4.5 percent.-VNA
Vietnamese shares on January 5 extended losses on both local markets for a second day as investors remained cautious amid volatility in Chinese stock markets.
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.
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.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
Investors at the SSI stock exchange floor in Hanoi. (Photo: VNA)
