The index plunged 13 points in the first 45 minutes of trading but quickly returned to the starting point and went sideways in the 1,160 range before ending with a marginal 0.17-point gain. It ended the week with four gaining sessions but was down 1.47 percent from Monday after plunging 18 points Thursday, when it entered the 1,190 range. This could show the investors’ lack of confidence that the index will return to the 1,200 peak it reached 2018. Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 11 percent to VND14.99 trillion ($645.64 million). The bourse saw 264 stocks gain and 169 lose. The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 10 tickers gain, led by POW of electricity distributor PetroVietnam Power Corporation, up 6.7 percent, ending four consecutive losing sessions. It was followed by STB of Ho Chi Minh City-based lender Sacombank, up 1.9 percent, and GAS of state-owned PetroVietnam Gas Jsc, up 1.8 percent. GAS is now 1.2 percent away from reaching its January peak. The seven remaining blue chip gainers saw marginal increases, with MSN of conglomerate Masan Group up 0.9 percent and MBB of Military Bank up 0.7 percent. On the losing side, BVH of insurance company Bao Viet Holdings fell 1.7 percent, followed by VHM of real estate giant Vinhomes, down 1.6 percent, its fifth losing session in a row. Foreign investors were net sellers for the 11th session in a row to the tune of VND1.34 trillion, highest in the last 14 sessions. Strongest selling pressures were seen on POW, VNM of dairy giant Vinamilk and CTG of state-owned lender VietinBank. The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 1.58 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market fell 0.77 percent. …
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Cameras hoped to reduce traffic accidents on Central Highlands pass
The decision was made after a series of accidents occurred on Bao Loc, a pass located on Highway 20. Accordingly, Lam Dong People’s Committee is set to spend VND26 billion ($1.12 million) to install 12 cameras at every bend and turn. The 10-kilometer Bao Loc Pass is an important route connecting the country's southeastern region to Lam Dong’s two towns, Da Lat and Bao Loc. While Da Lat is already a famous tourist destination, Bao Loc is both underrated and offbeat with a quiet and calm atmosphere, amazing waterfalls and many great tea and coffee farms. According to a representative of Lam Dong’s traffic police department, installing the cameras would help police monitor careless and reckless driving - a main cause of accidents on the pass. "We are completing legal procedures and budget plans for work to start in May," he stated. To reduce the number of increasing traffic accidents, Lam Dong People's Committee urged patrols be strengthened and traffic police be deployed 24/7 at high-risk spots. According to the Traffic Safety Committee of Lam Dong, from Dec. 15, 2020 to the end of Feb. this year, the province recorded 36 accidents, up by 17 cases compared to the same period last year, killing 25 people and injuring 21. On Bao Loc Pass alone, 10 accidents occurred and one person died. Recently, Lam Dong Province proposed a plan to build 67-kilometer Tan Phu-Bao Loc Expressway with an investment of nearly VND19.5 trillion ($841 million) to reduce the traffic load on Highway 20. …
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Vietnamobile blames market struggle on unfair competition
Nearly 33,000 subscribers left Vietnamobile in the first three weeks last month, showcasing the difficulties the carrier faces in retaining customers. It received no request for subscriptions in the period, during which telecom giant Viettel welcomed over 24,600 new subscribers, according to the Ministry of Information and Communications. Vietnamobile, which aims to attract subscribers with a low-cost strategy, often receives complaints of low signal even in major cities, the small number of branches and poor customer service quality. In 2019, Vietnamobile and two other carriers accounted for just 4.61 percent of the market, while three state-owned giants Viettel, VNPT and Mobifone, claimed more than 95 percent, according to the ministry. Vietnamobile has blamed its difficulties on the limited spectrum it receives compared to the three main competitors, which it says limits it from providing the best services to customers. In 2019, the company had requested five government bodies to create fairer spectrum auction policies. Another challenge the company faces is its limited resources and staff. Last year, the company recorded a profit of nearly VND60 billion (), compared to VND42 trillion by market leader Viettel. Vietnamobile had also proposed the provision of a new spectrum last year; as well as approval for 5G testing. …
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