Shares retreat on economic woes

Shares retreated on July 19 from July 18's modest rally on the HCM Stock Exchange, while stocks on the Hanoi exchange tumbled for a fifth consecutive session.
Shares retreated on July 19 from July 18's modest rally on the HCMStock Exchange, while stocks on the Hanoi exchange tumbled for afifth consecutive session.

ACB Securities Co'sanalyst Ho Ba Tinh said the stock market was weakening significantly."The expectation that interest rates would fall has been shaken," Tinhsaid.

Meanwhile, officials from the Ministry ofFinance's price management unit have hinted that inflation figures to bereleased for July would indicate a sharp increase.

Stock trading, as a consequence, was sluggish, with the value of tradeson the HCM City market reaching only 274.9 billion VND (13.3 millionUSD) on a volume of 16.7 million shares – a 21 percent decrease in valueand a 14 percent decrease in volume from the previous session and thelowest market value in the past 50 days.

Accordingly, the VN-Index dived 1.4 percent to close at 410.12 points, with over half of listed stocks losing ground.

Blue chips failed to sustain the VN-Index, as food producer MasanGroup (MSN), bottomed out and insurer Bao Viet Holdings (BVH), propertydevelopers Hoang Anh Gia Lai (HAG) and Vincom (VIC), PetroVietnamFinance (PVF) and Sacombank (STB) all tumbled.

Shares of BIDV Securities Co (BSI) saw their first day of trading on theHCM Stock Exchange, closing at 10,900 VND, up from its reference priceof 10,300 VND.

BSI plans to increase its charteredcapital in the fourth quarter from 865 billion VND to 1.2 trillion VNDand will sell a 10-per-cent stake to strategic partners. It has targeteda net profit of 9.5 billion VND (461,200 USD) this year, off from 11.43billion VND (554,850 USD) in 2010.

Shares ofengineering company COMA 18 (CIG) also saw their first day of trading,closing at 10,800 VND, a decline from the 13,500 VND reference price.CIG, with a charter capital of 120 billion VND (5.8 million USD), posteda net profit last year of 16.5 billion VND, expected to rise this yearto 51 billion VND (2.5 million USD).

On the Ha NoiStock Exchange, the HNX-Index lost another 0.4 percent to conclude thesession at 70.74. The value of trades reached only 192.4 billion VND(9.3 million USD) on a volume of just 19 million shares. Losersoutnumbered gainers by 155-78.

PetroVietnamConstruction Corp (PVX) was the most-active share nationwide, with 1.8million traded, followed by Kim Long Securities Co (KLS) with a volumeof 1.7 million shares and VNDirect Securities Co (VND) with 1.3 millionshares traded. These three shares together accounted for 25 percent ofthe total volume on the northern exchange. /.

See more

Illustrative image (Photo: VNA)

Government to ramp up inspection on gold trading

The surge in domestic gold prices and the widening disparity with global rates recently were partly due to market psychology, driven by expectations of further international price hikes.

The opening of the Ho Chi Minh City Pavilion at the 2025 Saudi Food Show being held from May 12 to 14 at the Riyadh Front Exhibition and Conference Centre. (Photo: courtesy of ITPC)

HCM City businesses attend Saudi Food Show in Riyadh

The HCM City pavilion is a joint exhibition space comprising three adjacent sections with a total area of 300 square metres organised by the Investment and Trade Promotion Centre of HCM City and the Vietnam Trade Office in Saudi Arabia.

Prime Minister Pham Minh Chinh speaks at the dialogue with the US business community in Hanoi on May 13. (Photo: VNA)

US businesses affirm long-term commitment to Vietnam

During the meeting, US delegates expressed appreciation for the Vietnamese Government’s goodwill and for its efforts to maintain a favourable investment climate. They proposed Vietnam continue enhancing its business environment by addressing bottlenecks in administrative procedures, non-tariff barriers, taxation, and fees, while ensuring infrastructure conditions, transparency, and rules of origin

Consumers at a supermarket in HCM City (Photo: baodautu.vn)

Vietnam, US push for balanced trade

Imports from the US are predicted to rise sharply in the coming months as large Vietnamese enterprises are accelerating purchases from the North American market in efforts to balance bilateral trade.

The reduction of bank staff will continue to be strong in 2025, as banks are promoting digital transformation and restructuring operations to improve cost management efficiency. (Photo: vnbusiness.vn)

Banks cut staff, transaction branches amid digital promotion

VietinBank will be the first bank in the country’s group of four largest State-owned commercial banks (Big4) to cut the number of its transaction offices. According to a plan released at VietinBank’s annual general meeting of shareholders (AGM) recently, the bank is expected to cut hundreds of transaction points to streamline the system in 2025.

The Binh Duong Centralised IT Zone is located within the Binh Duong Industrial – Service – Urban Complex. (Photo baobinhduong.vn)

Binh Duong develops new 16-hectare centralised IT zone

The establishment of a new centralised information technology (IT) zone in Binh Duong Province marks a significant step in the locality’s digital transformation strategy and its ambition to build a knowledge-based economy.

Workers manufacture electronic components. (Photo: VNA)

PM orders overhaul to improve business environment

The dispatch further highlights the need for comprehensive measures to enhance governance capacity, accelerate socio-economic progress, and improve the investment and business landscape with a clear emphasis on sustainable development and environmental stewardship.

Prime Minister Pham Minh Chinh (centre) and other delegates attend the groundbreaking ceremony for the Ninh Binh–Hai Phong Expressway Project’s section passing through Nam Dinh and Thai Binh provinces. (Photo: VNA)

Transport, industrial development essential for Thai Binh to be wealthier: PM

​The groundbreaking ceremonies of the Ninh Binh–Hai Phong Expressway Project’s section and the Hung Phu Industrial Park in Thai Binh affirm the government’s determination to create an attractive investment and business environment for both domestic and foreign investors; foster provincial and regional connectivity, generate momentum and open new development space for Thai Binh and the northern coastal region.