Vietnam’s shares mixed; oil stocks decline

Vietnamese shares were mixed on the two local exchanges on October 14 while energy stocks fell further following a decrease in global oil prices.
Vietnam’s shares mixed; oil stocks decline ảnh 1Investors at the Sai Gon Securities Exchange.  (Photo: VNA)

Vietnamese shares were mixed on the two local exchanges on October 14 while energy stocks fell further following a decrease in global oil prices.

The VN Index on the HCM Stock Exchange decreased by 0.2 percent to close at 589.98 points, extending its losses for second day, while the HNX Index on the Hanoi Stock Exchange rose 0.1 percent to finish at 80.74 points.

The energy sector fell 2.4 percent as US benchmark crude West Texas Intermediate (WTI) dropped slightly to trade at 46.64 USD a barrel at the end of the October 14 session.

Among energy stocks, Petrovietnam Gas Corporation (GAS) lost 1.1 percent, PetroVietnam Drilling & Well Services (PVD) was down 0.3 percent and PetroVietnam Drilling Mud Corporation (PVC) fell nearly 1 percent.

The banking index fell 2.8 percent as the Chinese government on October 12 reported that its trade volume for September fell 1.1 percent from a year ago while its import value decreased by 17.7 percent.

The data raised a concern among investors about the possibility that China may depreciate its yuan to boost the economy, thus threatening Vietnam's foreign exchange rates, Sai Gon Securities Corporation (SHS) wrote in a report.

SHS also reported that the exchange rate between the dong and the US dollar rose 160 VND from the value last weekend and now stood between 22,380 VND and 22,460 VND.

The brokerage said that such move in the foreign exchange rate made investors become more cautious with their actions during the last few days.

At the end of the day, the biggest banks such as Vietcombank (VCB) lost 1.5 percent, the Bank for Investment and Development of Vietnam (BID) fell 0.8 percent, and Vietinbank (CTG) dropped nearly 1 percent.

VCB also reported a pre-tax profit of 4.52 trillion VND (201.7million USD) after the first three quarters, an increase of 8.3 percent year-on-year.

In addition, some large stocks on the market such as Bao Viet Holdings (BVH) and HDG Pharmaceutical Joint Stock Corporation (DHG) declined after the Government said it doesn't plan to sell stakes in these companies. BVH went down 4.2 percent and DHG fell 1.5 percent.

The two local exchanges traded more than 148 million shares and 2.6 trillion VND (116 million USD) on October 14, an increase of 12.6 percent.

FLC Group (FLC) remained the most active stock on the market for a third day with more than 8.4 million shares in trading. FLC remained flat at the end of the day.-VNA

VNA

See more

Minister of Industry and Trade Nguyen Hong Dien and Deputy Prime Minister of the Republic of Belarus Anatoly Sivak sign the meeting minutes. (Photo: VNA)

Vietnam, Belarus unveil key solutions to boost trade

Vietnam and Belarus are set to deepen bilateral cooperation in all fields, particularly in economy-trade and science-technology, through their Intergovernmental Committee mechanism, affirmed Minister of Industry and Trade Nguyen Hong Dien.

Honda Vietnam's new CEO, Sayaka Hattori (Photo: VNA)

Honda Vietnam has new female CEO

Sayaka Hattori, a Japanese national with over 25 years of experience in the automobile and motorcycle industry, was appointed as new CEO of Honda Vietnam on April 1.

Illustrative image (Photo: VNA)

Annual enterprise census kicks start nationwide

The survey will span all the 63 provinces and centrally-run cities in Vietnam, targeting enterprises and cooperatives engaging in production and business activities across almost all sectors.

Participants at the talks between Minister of Construction Tran Hong Minh and Korean Minister of Land, Infrastructure, and Transport Park Sangwoo in Hanoi on March 31. (Photo: VNA)

Vietnam calls on RoK to share expertise in high-speed railway development

Minister of Construction Tran Hong Minh applauded the RoK’s proposal to organise a railway cooperation forum, seeing it as an opportunity for state management agencies, experts, research institutions, universities, and businesses of Vietnam to gain insights from the RoK’s experience in planning, construction, maintenance, and developing high-speed rail industry.

Representatives from Vietnamese and Korean agencies at the MoU signing ceremony. (Photo: VNA)

Vietnam, RoK step up railway development cooperation

Since 1996, the Korean government has provided funding for Vietnam’s transport infrastructure development. To date, the two countries have successfully completed nine projects, with total loans of over 1 billion USD, and are currently working on six other projects with loans worth nearly 600 million USD.

The passengers boarding the first flight from Taiwan to Quang Binh at Dong Hoi Airport (Photo: VNA)

Quang Binh province welcomes first flight from Taiwan

These international flights, the first of their kind, marked a significant milestone for the Dong Hoi airport, particularly following its designation as one of three domestic airports authorised to process foreign passengers' arrivals and departures using electronic visas.

The second branch of the Vietnam-Germany Friendship Hospital – a project deemed causing massive waste (Illustrative Image - Source: VNA)

PM orders urgent reviews, reports of delayed investment projects

The dispatch highlights that ministries, sectors, and localities involved must intensify their efforts to resolve these stalled investment projects in a bid to accelerate socio-economic development and prevent waste of state, business, and public resources.

At the signing ceremony of the 25-year production sharing contract (PSC) for oil and gas exploration in Block 15-2. (Photo: VNA)

Vietnam, Japan forge 25-year oil and gas partnership

Son noted the Block 15-2 contract is a crucial step after the 2022 Law on Oil and Gas took effect, urging contractors to carry out their commitments to maximise the productivity of the block as well as enhance oil recovery rate – an important task to ensure energy security.