Investors watch stocks trading on Hoang Gia Securities Co's trading floor in Hanoi. (Photo: VNA)
Hanoi (VNA) - Vietnamese shares on March 7 e🌟xtended rallies on both local markets as energy stocks rose on higher crude oil prices.
The benchmark VN Index on the HCM Stock Exchange rose 0.4 percent to close at 576.20 points, rallying 3 percent in the last five trading sessions.
The HNX Index on the Hanoi Stock Exchange inched up 0.1 percent to end at 79.73 points. The northern index has gained 0.6 percent in the last two days.
Local exchanges received a boost from energy stocks, which benefited from higher crude prices after US producers cut the number of oil rigs to the lowest number in the last six years.
US benchmark West Texas Intermediate (WTI) added 1.2 percent to trade at 36.35 USD a barrel and London-traded Brent crude was up 1 percent to trade at 39.12 USD a barrel.
WTI has jumped nearly 40 percent in the last two months from its twelve-year low of 26.21 USD and Brent crude has surged nearly 18 percent in the last nine trading sessions on expectations that the Organisation of Petroleum Exporting Countries (OPEC) and other producers such as Russia and US will reduce oil production in an attempt to improve prices.
Among local energy stocks, PetroVietnam Gas Corporation (GAS) surged 6.7 percent, PetroVietnam Drilling and Well Service Corporation (PVD) and PetroVietnam Mud Drilling Corporation (PVC) jumped 6.3 percent each.
Natural rubber producers extended gains as rubber prices on the Tokyo Commodity Exchange were up 2.3 percent to trade at 178.7 yen (1.58 USD) per kilogramme.
Phuoc Hoa Rubber JSC (PHR) and Thanh Cong Rubber JSC (TNC) added 6.7 percent each, and Tay Ninh Rubber JSC (TRC) rocketed 7 percent.
Hoang Anh Gia Lai Agricultural JSC (HNG), auto distributor Hoang Huy Investment Services JSC (HHS), construction company Sao Mai Group Corporation (ASM) and Hoang Quan Consulting-Trading-Service Real Estate Corporation (HQC) helped lift the markets after they were added into the Germany-based exchange traded fund FTSE Vietnam ETF’s investment portfolio on March 4.
Investors on March 7 traded more than 220 million shares on the two local exchanges, worth 3.2 trillion VND (144 million USD), an increase of 20 percent from last week’s daily trading value.-VNA
The net sale of shares worth 1.25 trillion VND (56.2 million USD) by foreign investors in January contributed significantly to the decline of the stock market last month.
Vietnam’s securities sector reaped satisfactory results in 2015, thanks to its strong measures to attract external capital flows and through the restructuring of the stock market system.
Shares rebounded on both markets in Hanoi and Ho Chi Minh City on February 18 as energy stocks made big gains after Iran backed a Saudi-led proposal to freeze crude output at current levels.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Investors watch stocks trading on Hoang Gia Securities Co's trading floor in Hanoi. (Photo: VNA)
