Vietnam’s shares continue rally on TPP deal optimism

Shares in Vietnam's two stock markets continued to rally on October 6 after 12 Pacific Rim countries reached an historic agreement which will liberalise commerce in 40 percent of the world's economy.
Vietnam’s shares continue rally on TPP deal optimism ảnh 1Investors watch share movements at APEC Securities Company. (Source: VNA)

Shares in Vietnam's two stock markets continued to rally on October 6 after 12 Pacific Rim countries reached an historic agreement which will liberalise commerce in 40 percent of the world's economy.

The benchmark VN-Index on the Hochiminh Stock Exchange rose for a second day, adding another 2 percent to close the session at 581.3 points. In Hanoi, the HNX-Index also gained 2.1 percent to end the day at 80.5 points, extending its winning steak to five sessions.

"This is the good news investors were waiting for that gave a boost to the market," said Tran Minh Hoang, head of the analysis department at Vietcombank Securities Co.

Hoang said that not only should Vietnamese export companies benefit from the agreement but support industries such as banking, construction and logistics sectors would also be gainers.

TPP, which would cut trade barriers among participating nations, is expected to expand Vietnam's GDP by 33.5 billion USD and lift its exports by 68 billion USD by 2025, said Vietnamese Minister of Industry and Trade Vu Huy Hoang after the pact's conclusion.

He said Vietnam's key export products like textile, garment, footwear and seafood would gain breakthroughs in export value to big markets such as the United States, Japan and Canada.

Seafood exporter Hung Vuong Corp (HVG) hit the daily increase ceiling of 7 percent in the HCM City market while apparel maker Mirae (KMR) jumped 6.3 percent. Companies such as Thanh Cong Textile Garment Investment Trading (TCM) and TNG Investment and Trading (TNG) saw gains of 6 to 7 percent in the morning fall to 1 to 2 percent in the afternoon due to profit-taking.

Big banks like Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID) and logistic Gemadept (GMD) also climbed 2 to 4 percent each.

The trade agreement must still be approved by the legislatures of each participating nation before being implemented.

"The market will likely have only a small rise in October since this agreement needs more time for the 12 nations to ratify it and for it to take full effect," said Bui Nguyen Khoa, an analyst at BIDV Securities Co.

Overall market conditions were positive with nearly 50 percent of 674 trading stocks advanced while only 17 percent declined.

Liquidity also went up in the two markets.

In the southern bourse, more than 179 million shares worth over 3 trillion VND (133 million USD) were traded, up 81 percent in volume and 72 percent in value compared with the previous session's levels. These figures were also much higher than the daily average of over 93 million shares and 1.5 trillion VND (67 million USD) seen in September.

In the Hanoi's market, the market volume also increased 48 percent over the previous day, totaling 60.5 million shares while the value of trades jumped over 50 percent to reach 652.2 billion VND (29 million USD).-VNA

VNA

See more

Export rice products of Vinh Phat Rice Company in An Giang province. (Photo: VNA)

Vietnam expected to export over 7.5 million tonnes of rice in 2025

MARD’s supply and demand report sent to the Ministry of Industry and Trade (MoIT) projects the Mekong Delta will cultivate 3.78 million hectares of rice, yielding more than 23.96 million tonnes. Of this, 15.08 million tonnes of commercial rice, equivalent to 7.54 million tonnes of husked rice, will be available for export.

Representatives from EzyRemit Worldwide and Sacombank-SBR at the meeting on February 17 in Sydney. (Photo: VNA)

Vietnamese, Australian firms promote comprehensive strategic cooperation

EzyRemit Worldwide, one of the leading fintech companies in Australia, and Sacombank-SBR of Vietnam discussed expanding cooperation and enhancing international money transfer and payment services between Vietnam and Australia, thereby providing more values for customers in both countries.

An overview of the meeting (Photo: VNA)

Binh Duong works to remove obstacles facing major FDI firms

Authorities of the southern industrial hub of Binh Duong held a meeting with two major foreign direct investment (FDI) enterprises operating in the province to address challenges facing the firms in production and business operations while encouraging their further expansion.

Real estate investors eye industrial zones with strong transport infrastructure. (Illustrative photo: VNA)

Real estate rises with infrastructure boom

According to Savills Vietnam, a more favourable real estate investment environment is expected in 2025 as cyclical challenges subside and the market continues its recovery.

At the February 14 meeting between Lao Prime Minister Sonexay Siphandone and a delegation of Vietnamese businesses and international enterprises from various countries. (Photo: VNA)

Vietnam strengthens business and investment ties in Laos

Highlighting Laos's vast potential for trade and investment cooperation, Lao Prime Minister Sonexay Siphandone said that Laos is an attractive investment destination, particularly in agriculture, tourism, logistics, and infrastructure development.

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.