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A customer performing a transaction at Vietinbank's office in Hà Nội. The lender's shares tumbled 5.85 per cent on Monday, weighing on the market sentiment. — VNA/VNS Photo Shares fell deeply on Monday as the strong selling force weighed on all industries, with many large-cap stocks hitting floor prices. The market's benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) extended last week's bearish trend to the third straight day. It plunged 39.85 points, or 3.34 per cent, to 1,153.2 points. Last week, the index lost 2.8 per cent. The breadth of the market was negative, with decliners surpassing gainers on the southern bourse. Particularly, up to 311 ticker symbols tumbled, of which 110 stocks logged the biggest daily loss of 7 per cent, while only 34 inched up. Liquidity also fell sharply from the previous session, down 27.1 per cent to nearly VNĐ23.5 trillion. This was equal to a trading volume of nearly 1.1 billion shares. The VN30-Index, tracking the 30 biggest … [Read more...] about Market extends downtrend, VN-Index loses nearly 40 points

BIDV's employee talks to a client at its office. The bank's shares led the downtrend on Tuesday with a decrease of nearly 5.5 per cent. — Photo bnews.vn The Vietnamese stock market fell more than 3 per cent on Tuesday, erasing nearly VNĐ149 trillion of the southern exchange's value. The market's benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) tumbled 37.15 points, or 3.22 per cent, to finish the trading day at 1,118.1 points. This was the lowest close in more than three months. The strong correction led to an evaporation of nearly VNĐ149 trillion (US$6.1 billion) from HoSE's market value, according to cafef.vn. As of October 10, the market value of HoSE dropped to nearly VNĐ4.5 quadrillion. Liquidity on the southern bourse soared above VNĐ20 trillion today, with the trading value up 83.5 per cent from the previous session to VNĐ21.1 trillion. During the session, nearly 992 stocks were traded. The breadth of the market fell into negative territory as losers … [Read more...] about VN-Index hits more than 3-month low on strong sell-off

Sample of chip made by FPT semiconductor. — Photo courtesy of FPT As Việt Nam is joining and becoming a link in the global semiconductor market, the stocks of some companies involved in the industry have witnessed outstanding performances. Việt Nam is clearly seeing opportunities to develop and create breakthroughs for the semiconductor industry after foreign research units and businesses have recently seen the country as a destination to invest, set up offices, and open factories. Particularly, the recent joint statement between Việt Nam and the US also emphasised cooperation in the semiconductor industry. During the visit of PM Phạm Minh Chính to Silicon Valley on 18 September, many US technology companies, such as Nvidia and Synopsys, discussed collaboration in the semiconductor chip sector. Nvidia wants to enhance cooperation with Việt Nam in semiconductors and artificial intelligence, expecting the country to fully become a production base for the group in Southeast … [Read more...] about Shares of semiconductor groups ride on a rising wave

Sample of chip made by FPT semiconductor. — Photo courtesy of FPT As Việt Nam is joining and becoming a link in the global semiconductor market, the stocks of some companies involved in the industry have witnessed outstanding performances. Việt Nam is clearly seeing opportunities to develop and create breakthroughs for the semiconductor industry after foreign research units and businesses have recently seen the country as a destination to invest, set up offices, and open factories. Particularly, the recent joint statement between Việt Nam and the US also emphasised cooperation in the semiconductor industry. During the visit of PM Phạm Minh Chính to Silicon Valley on 18 September, many US technology companies, such as Nvidia and Synopsys, discussed collaboration in the semiconductor chip sector. Nvidia wants to enhance cooperation with Việt Nam in semiconductors and artificial intelligence, expecting the country to fully become a production base for the group in Southeast … [Read more...] about Shares of semiconductor groups ride on a rising wave

A condotel project developed by Nam Long Investment Joint Stock Company (NLG). NLG has approved a plan to issue corporate bonds with a maximum total value of VNĐ500 billion, expected to be implemented in the third quarter of this year. — Photo courtesy of NLG Real estate companies are continuously announcing plans to issue bonds to raise capital. The Board of Directors of Nam Long Investment Joint Stock Company (NLG) on September 19 approved a plan to issue corporate bonds with a maximum total value of VNĐ500 billion (US$21.2 million), expected to be implemented in the third quarter of this year. The bond lot is a non-convertible bond, with a term of five years, without warrants, with an expected interest rate of 9.6 per cent per year. With the proceeds, Nam Long will use them to invest in the Nam Long 2 Residential Area project in Nam Cần Thơ Urban Area, Cần Thơ City. The project has a total investment capital of VNĐ500 billion; total area of 43.8 hectares. In mid-February … [Read more...] about Realty firms look to raise capital via bonds

Central banks for the world's biggest economies have served notice that they will keep interest rates as high as needed to tame inflation, even as two years of unprecedented global policy tightening reaches a peak. The so-called "higher for longer" mantra is now the official stance of the U.S. Federal Reserve, European Central Bank and the Bank of England, as well as being echoed by monetary policy-makers from Oslo to Taipei. For central bankers first chastised for being late to spot the post-pandemic surge in inflation and then cautioned for overdoing their response, the prize of returning the global economy to stable prices without recession is now within sight. Their task is to convince financial markets not to undo their work with bets on early rate cuts, and to watch for new risks such as rising oil prices - while hoping governments help with budgets that do not further fuel inflation. "We will need to keep interest rates high enough for long enough to ensure that we get … [Read more...] about Global central banks unite in ‘higher for longer’ credo

Speaking at the opening of the event held in Quang Ninh Province, he emphasized the importance of developing science, technology and innovation. Hundreds of delegates from ministries, businesses and production units and scientists were in attendance to learn about breakthrough technologies and solutions. Before the opening, Deputy Prime Minister Tran Luu Quang, Dat, other Party and state leaders, their counterparts from the Quang Ninh Province Party Committee, People's Council and People's Committee, and ministry and other officials visited the booths set up at an exhibition that is part of the event. Nearly 200 booths showcased technological devices and solutions. Quang called for ensuring products are also competitive in terms of prices. "The product might be good, but the price must also be lower than in foreign markets," he said while visiting the booth set up by auto company Thanh Cong Group. Minister of Science and Technology, Huynh Thanh Dat speaks at the … [Read more...] about Technology is foundation for Vietnam’s rapid, sustainable development: minister

Last week, Ho Chi Minh City People’s Court suspended a long-running case brought by a local citizen five years ago seeking damages for “faulty beer bottles” due to the plaintiff’s numerous absences. According to the judges, the plaintiff asked to postpone the trial earlier in September and the request was accepted. However, on September 26, his lawyer asked for a further delay. The judges said the reason given by the plaintiff did not fall under force majeure or an objective obstacle to postpone the trial. Thus, the plaintiff had “given up the right to sue” according to the criminal procedure code. The plaintiff does not have the right to sue again if there is no new evidence from the original filing, but has the right to appeal against the suspension, the court announced. In his original letter of intent to sue the company, he said in 2018 he bought a barrel of Bia Saigon bottles – of those, the customer alleges that one bottle was found to have under half of its contents. … [Read more...] about SABECO dedicated to high standards and anticipating 2024 momentum