Hanoi (VNA) - Vietnamese shares extend𒊎ed gains on July 5 as financial firms advanced on expectations of positive second-quarter perꦬformance.
The benchmark VN Index on the HCM Stock Exchange (HoSE) edged up 0.5 percent to finish at 650.88 points, reaching a fresh eight-year high. The southern market index has rallied a total 4.9 percent in seven sessions.
The HNX Index on the Hanoi Stock Exchange inched up 0.1 percent to close at 85.91 points, climbing a total 2.8 percent in the last six trading days.
Financial firms, including banks, brokerage companies and insurers, led the markets up on expectations that these companies have performed better in the past three months.
In the insurance sector, Bao Viet Holdings (BVH) jumped 3.3 percent and PVI Holdings (PVI) was up 0.4 percent.
In the banking sector, the three largest banks, Vietcombank (VCB), Vietinbank (CTG) and the Bank for Investment and Development of Vietnam (BID), gained between 1.8 percent and 2.9 percent.
Other banks such as Sacombank (STB), Military Bank (STB) and Sai Gon-Hanoi Bank (SHB) also advanced.
Securities firms maintained their good forms. Sai Gon Securities Inc (SSI), HCM City Securities Corp (HCM), VNDirect Securities Corp (VND) and BIDV Securities Inc (BSI) remained the factors that lifted the sector up.
SSI added 1.8 percent, HCM jumped 4 percent, VND advanced 3.1 percent and BSI went up 3.3 percent. SSI, HCM and VND were also the four largest securities companies in Vietnam, according to HoSE.
Other large-cap stocks on the two local exchanges, such as consumer goods producer Masan Group (MSN) and Tien Phong Plastic JSC (NTP), also helped markets gain. MSN and NTP were up 0.7 percent and 3.8 percent, respectively.
Among energy stocks, PetroVietnam Gas Corp (GAS) was down 1.5 percent, and PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Technical Service Corp (PVS) fell 1.6 percent each.
Two other blue chips, the dairy firm Vinamilk (VNM) and technology retailer FPT Corp (FPT), ran into profit-taking after recent gains. VNM and FPT closed down 0.7 percent each.
Investors exchanged 218.2 million shares worth 4 trillion VND (177.8 million USD), a slight increase from the July 4 trading value.-VNA
Vietnamese shares were mixed on June 30 while investors became more confident in property companies on expectations of higher second-quarter performances.
Up to 4.49 trillion VND (over 202 million USD) were collected by businesses during their divestment process carried out in the first six months of 2016.
Vietnamese shares rose higher on July 4 as investor confidence was bolstered by higher oil prices and expectations for better corporate earnings in the past three months.
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 BIDV Securities Corp (Photo: VNA)
