Selling pressure

Workers loading Hoa Phat's steel products on a truck. The company shares surged 1.6 per cent on Thursday after a long losing streak. — Photo hoaphat.com.vn Indices were little changed on Thursday as rising selling pressure in the afternoon trade weighed on many large-cap stocks. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) ended the day at 1,268.57 points, up 0.14 points, or 0.01 per cent. It rose 0.22 per cent in the morning trade. The market's breadth remained positive as more stocks gained points, of which 252 stocks climbed, while 191 stocks declined. However, liquidity decreased over the last session. Accordingly, the matching value on the southern bourse fell by 18 per cent to nearly VND13 trillion (US$559.8 million). The index edged higher for the third consecutive session, but gains were pared by stronger selling pressure. The 30 biggest stocks tracker VN30-Index dropped 1.2 points, or 0.09 per cent, to 1,309.5 points. Of the VN30 basket, … [Read more...] about VN-Index pares gains on stronger selling force

Illustrative photo (Source: VNA) Hanoi (VNA) – Thailand's retail corporation Central Retail in Vietnam plans to put on shelves about 1,000 tonnes of lychee this year, with first batches of the fruit from Bac Giang province’s Luc Ngan district transported to its supermarkets after a ceremony on May 25. The favourite summer treat is now available across the group’s GO! , Big C , and Tops Market supermarket chains nationwide. Next week, Central Retail together with the Tien Giang authorities will organise the Vietnam fruit festival in a bid to promote lychee – a northern fruit – in the southern area. The group is also working with Thai partners to effectively distribute the fruit in Thailand. Earlier, the Bac Giang People’s Committee and Central Retail signed a cooperation pact on lychee distribution in 2022 on both virtual and physical channels./. VNA … [Read more...] about Thai retail corporation to sell some 1,000 tonnes of lychees

Many retailers in phone and electronics segments focus on developing online channels to survive during the coronavirus pandemic period. To survive adverse effects of the coronavirus pandemic, many Vietnamese tech retailers have quickly boosted their sales on online platforms as their physical stores nationwide have to close until April 15 to comply with the prime ministerial directive stipulating measures to combat the pandemic. Photo: MWG Significant demand on tech products Mobile World Investment JSC (MWG), the largest tech retailer in Vietnam, saw a surge in demand in online shopping since the beginning of April as more than 10% of its 2,000 phone and electronics stores, mainly in Hanoi, have to close. Dang Thanh Phong, PR manager of MWG, told Hanoitimes that its revenue from online sales accounted for 13% of the total phone and electronics revenue in March, higher than that of the previous months. Due to the closure of its stores, sales in … [Read more...] about Vietnamese tech retailers manage to survive Covid-19 pandemic

Muoi Sau (Sixteen) Dessert Soup Stall in Hanoi’s downtown is a well-known place for those who love the sweetness of Hanoi desserts. Che or sweet soup is a Vietnamese dessert that originated in northern Vietnam a nearly century ago. This has long been a familiar nosh of Hanoians to cool off on hot summer afternoons. From the simple sweet porridge cooked from lotus, black or green mung beans, over time, it has become more diverse with different variants. A specialty of Hanoi The mixture of lotus and young rice sweet soup. Photo: Moc Van Interestingly, you can enjoy che in both Summer and Winter. There is no better way to refresh your body in the middle of a hot summer day than having a cool fresh glass of che , and warm your body up with a hot bowl of Vietnamese sweet soup on a freezing winter night. che may be served hot or cold, in bowls, glasses, or over ice. Unlike che from other provinces, Hanoians are very careful in the selection of … [Read more...] about Muoi Sau sweet soups- the quintessence of Hanoi’s nosh

Illustrative image. (Photo: SGGP) According to Mr. Nguyen Ngoc Dung, Chairman of Vietnam E-commerce Association (Vecom), in 2021, despite being heavily affected by the Covid-19 pandemic, Vietnam's e-commerce still maintained a good growth momentum with an increase of about 20 percent and a scale of $16 billion. Keeping the growth momentum, Vietnam is now one of the countries with the largest e-commerce market size in the region, besides Indonesia, Thailand, and Malaysia. Vietnam's internet economy in 2021 grew by 31 percent compared to 2020 and reached a scale of $21 billion. Of which, the online retail sector enlarged by 53 percent and touched a scale of $13 billion. There are two waves that have contributed to the steady development of e-commerce in Vietnam in 2020 and 2021 and will be the driving force for the next period. The first wave took place during the early stages of the Covid-19 pandemic in 2020, and the second one from June to September 2021, during the fourth … [Read more...] about Opportunities for e-commerce in Vietnam to boom

The dead were aged 25-43 and the injured woman was 22 years old. All four persons were cleaning up after a downpour when a house wall collapsed on them, the Giao Thong newspaper reported. Authorities are searching through the rubble to find out if there are more victims and to try and find out why the accident happened. The latest reported deaths take the death toll of heavy rains in northern Vietnam to six. Landslides and floods triggered by the heavy rains had killed three people in the provinces of Tuyen Quang and Hoa Binh, while destroying 260 houses. A low-pressure area over the northern region had triggered rains starting May 19, but the heaviest ones showed up since last Saturday. Floodwaters have damaged 9,500 hectares of rice fields in several localities, with Hanoi suffering the most, losing more than 4,000 hectares, followed by Tuyen Quang and Phu Tho with 1,500 hectares each. Between 7 a.m. and 3 p.m. Tuesday, rainfall was measured at almost 200 mm in Thai … [Read more...] about 3 killed in northern Vietnam after wall collapses following downpour

Real estate bonds shackled by rules - illustration photo At last week’s conference on corporate bonds held by the Vietnam Chamber of Commerce and Industry, experts discussed ways to develop an efficient and sustainable corporate bond market. One of the common recommendations regarded appropriate approaches to credit ratings. According to Can Van Luc, BIDV’s chief economist, there should be clear regulations on credit ratings to help investors easily determine business quality and the risk level of the issued bonds. “It is necessary to identify where a credit rating is mandatory and where a credit rating is encouraged. High-risk businesses should go through compulsory credit rating before bond issuance,” Luc said. “On the other hand, for businesses that have been audited and internationally rated with a long-standing history, a credit rating might not be necessary.” In recent years, the State Bank of Vietnam (SBV) has steadily redirected loan flows towards industry, services … [Read more...] about Real estate bonds shackled by rules

Vietnam expecting to spend even more on imports - illustration photo Southeast Asia is facing rising inflation, a problem that is exacerbated by the failure of energy and food prices to fall. Last month, the Monetary Authority of Singapore (MAS) tightened monetary policy for the third time since October to deal with inflation that is expected to heat up. According to analysts, the MAS has redefined the midpoint of the popular exchange rate policy band and slightly increased the slope of currency appreciation to help the Singapore dollar strengthen against the currencies of other countries. However, the MAS did not change the width of its policy band – a move the institution usually would take when markets are volatile. As a result, the Singapore dollar rose about 0.5 per cent to $1.35 after the MAS’ move. The agency considered the possibility that core inflation would pick up sharply in the coming months, before being revised later this year, due to the sharp increase in … [Read more...] about Vietnam expecting to spend even more on imports

Global food prices are expected to keep on rising this year due to the Ukraine conflict and other factors, Photo: Thanh Tung China’s National Bureau of Statistics (NBS) said on May 11 that the consumer price index (CPI), the main measure of inflation and retail sales, increased by 2.1 per cent on-year in 2021 due to the impact of the recession and skyrocketing energy costs and food prices. Data released by the General Administration of Customs of China on April 13 recorded a decrease in China’s imports for the first time since August 2020. In March, China’s imports fell 0.1 per cent on-year. Assoc. Prof. Dr. Vu Sy Cuong from the Academy of Finance warned last week, “Along with the conflict in Ukraine, China’s economic difficulties could exacerbate inflationary pressures in Vietnam.” China’s slowing growth is clearly felt by many manufacturing and export industries of Vietnam. Pham Van Viet, president of garment firm VitaJean Co., Ltd., said, “Restrictions on raw materials … [Read more...] about Global effects mar control of inflation

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability