Business

Stock market: Analysts warn of correction

Shares advanced on Friday, September 12, over an increase in the demand for oil and seafood stocks.

Shares advanced on Friday, September 12, over an increase in the demand for oil and seafood stocks.

However,the VN-Index on the Ho Chi Minh Stock Exchange still closed 0.96percent lower than the previous Friday's session. Transaction valueaveraged 3.14 trillion VND (148.1 million USD) on a daily volume of175.5 million shares.

On the Hanoi Stock Exchange, the HNX-Indexjumped by 1.07 percent to 89.49 points. The average value and volume oftrades improved by around 25 percent to 1.25 trillion VND (58.9 millionUSD) and 93 million shares.

After rally on September 8, sharesplunged in the following session, but there was no negative information.Investors offloaded and a series of stocks hit bottom. However, buyingat low prices was also retained, pushing trading to a record high.

Apartfrom oil and seafood, investors eyed shares of transportation, realestate and construction companies, notably penny stocks.

"We areconfident in market prospects, and opportunities to buy will come fromthe stocks mentioned," BIDV Securities Company analysts said.

In the coming sessions this week, however, they warned that the market would see a correction as many shares had risen quickly.

OnSeptember 13, Market Vectors Index Solutions GmbH announced it addedtwo realty shares – FLC Group (FLC) and Becamex (IJC) – to the MarketVectors Vietnam Index while rejecting logistic blue chip Gemadept (GMD).

Notably,FLC was also chosen by the FTSE Vietnam Index and GMD had to leave. TheVietnam Securities Depository had said foreign ownership in Gemadeptwas reduced from 49 to 20.4 percent. Currently, the company is out ofshares for foreign investors.

Foreign investors were net sellerson both bourses, unloading a total margin of 112 billion VND (5.2million USD). Shares most heavily sold include commercial baker Kinh Do(KDC), Sai Gon Securities Inc (SSI) and property developers Kinh Bac(KBC) and Tan Tao (ITA).

Bloomberg reported that Fitch Ratingsmight consider raising Viet Nam's outlook to BB – from the current B+level due to "strengthening in external finances" and an improvedeconomy. With other improvements in economic indicators, securitiesanalysts are all saying good things about the future of the market.

However,investors who want to surf the market waves should not be active atthis point, said FPT Securities' Le Thi Bich Hang.-VNA

Follow VietnamPlus

See more

The Lumitel brand is being promoted on walls across Burundi. (Photo: Viettel)

Lumitel – A bright spot in Vietnam-Burundi collaboration

After a decade of operations, Lumitel has become the leading telecommunications provider in Burundi and one of the largest contributors to the Burundian government's budget, providing stable employment for over 60,000 workers and indirectly creating around 100,000 jobs.

Belarusian Deputy Prime Minister Anatoly Sivak speaks at the forum. (Photo: VNA)

Ample room remains for Vietnam - Belarus trade cooperation

To further develop the Vietnam-Belarus economic and trade relationship, it is essential to enhance trade promotion and investment initiatives such as trade fairs, forums, thematic workshops, and trade connections, which serve as an important bridge for businesses from both sides to meet, connect, and seek cooperation opportunities.

The 5th Exhibition of Ho Chi Minh City and Friendship Provinces and Cities in Savannakhet takes place from April 2 to 6. (Photo: VNA)

Vietnam, Laos boost trade at Savannakhet expo

Vice Governor of Savannakhet Saensak Soulisak highlighted the exhibition’s role in expanding trade collaboration, enabling businesses to connect, share experience, and explore investment prospects. He also noted its significance in promoting local products to a wider market.

Visitors at the exhibition (Photo: VNA)

Vietnam Expo 2025 opens, spotlighting digital transformation, innovation

This year’s edition, themed “Step together in a digitised world,” has attracted around 400 businesses from 18 countries and territories, with over 500 booths. Alongside traditional networking, it introduces online business-to-business (B2B) matching, enabling year-round connections.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for building the private economic sector development project (Photo: VNA)

Private sector encouraged to join major national programmes, projects

It must fully unleash the productive capacity and resources of the country through the private sector; mobilise all private resources for national development; harness the effectiveness of internal forces, including human, natural resources, history, and culture, while effectively combining them with external resources such as capital, technology, human resources, and management experience, he said.

At the annual Vietnam-Cambodia business dialogue in Phnom Penh on April 4 (Photo: VNA)

Annual Vietnam-Cambodia business dialogue held in Cambodia

The annual business dialogue in Cambodia attracted around 150 delegates, including Vietnamese businesses and Vietnamese-origin companies operating in Cambodia across various sectors such as finance, banking, insurance, telecommunications, agriculture, construction, interior design, food services, transportation, logistics, trade, healthcare, and tourism.

Rice is one of Vietnam's exports to Cuba. (Photo: VNA)

Vietnam-Cuba Business Forum held in Hanoi

Addressing the event, Cuban Ambassador Rogelio Polanco Fuentes affirmed that Cuba will always stand alongside the Vietnamese Government and business community in their efforts to achieve the challenging target socio-economic goals.

The private sector is expected to make breakthroughs for national development. (Photo: VNA)

Party official anticipates breakthroughs in private economic sector

With the Politburo set to issue a dedicated resolution on the private economic sector, there should be a reformed approach to action plans, according to Secretary of the Party Central Committee and head of Head of its Commission for Policies and Strategies Tran Luu Quang.

NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. (Photo: VNG)

More RoK’s game developers target Vietnam

Over half of Vietnam's nearly 100 million population being gamers and the country's competitive labour costs are among reasons for Korean gaming firms' expanding presence in Vietnam.

Representatives from the Vietnamese Embassy in the UK, LHR leaders, airline partners, and passengers at the anniversary event (Photo: VNA)

Vietnam Airlines marks 10 years of UK route operations

Vietnam Airlines launched its direct UK route in 2011, initially operating from London Gatwick Airport (LGW) before transitioning to Heathrow in 2015, improving connectivity to one of the UK’s major international hubs./.