A worker collecting latex in a rubber plantation of Vietnam Rubber Group (GVR)'s member in Chu Pah District, Gia Lai Province. The company shares posted the biggest losses yesterday. — VNS/VNA Photo Shares inched down on Wednesday, weighed by strong selling pressure across most sectors despite gains in some large-cap stocks. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined by 0.22 per cent to 1,376.87 points. The market's breath stayed negative with 298 stocks falling, while 94 stocks rose and 51 ended flat. The liquidity was high as more than 710.77 million shares were traded on the market, worth over VND21.1 trillion (US$528.6 million). The market was weighed by selling forces despite rallies in large-cap stocks, especially bank stocks. The VN30-Index, which tracks 30 biggest stocks in market capitalisation on HoSE, climbed slightly 0.02 per cent to 1,489.53 points. Twenty stocks of the VN30 basket plummeted, while only nine jumped and one … [Read more...] about Market falls on strong selling forces
Vn index historical data
Local stocks experience gloomy trading day The Saigon Times An investor browses his mobile phone while sitting in front of stock information screens. The local stock market ended lower today, June 23 - PHOTO: VNA HCMC – Thanks to the support of securities stocks and largecaps in the banking sector, the benchmark VN-Index of the HCMC stock market only fell slightly amid lackluster trading today, June 23. At the close, the main index shed 3.1 points, or 0.22% against the previous session at 1,376.87, with 94 stocks rising and up to 298 others dropping. Turnover on the southern bourse continued its downward trend, contracting 4.8% in volume and 5.7% in value at over 710 million shares and more than VND21 trillion. Shares traded in block deals contributed VND2.050 trillion to the overall value. In the group of bank stocks, largecaps extended rally which helped the VN-Index to avoid a deep decline. Private lender VPB was the biggest winner as it soared 4.5% with … [Read more...] about Local stocks experience gloomy trading day
Tax authorities said they would review the roadmap of taxation collection and pilot tax withholding at some e-commerce sites. A new circular released by the Vietnamese Ministry of Finance has been criticized for affecting the operation of e-commerce platforms and their hundreds of thousands of sellers. Under Circular No. 40, which will take effect on August 1, e-commerce platforms are required to declare and pay tax on behalf of third-party sellers on the platforms. Sendo said the application of the Circular will require a team of tax professionals to classify taxable revenue and tax rates applied. Photo: Grab The circular on value-added tax, personal income tax, and tax administration for business households and individuals are expected to collect tax from some people who obtain income on electronic commerce platforms but for years have not paid taxes. The tax authorities have asked e-commerce and delivery companies to take responsibility for the tax … [Read more...] about Would withholding tax on e-commerce be possible?
The MoIT conducted the end-of-term review of anti-dumping measures against galvanised steel products imported from China and the RoK. — Photo bnews.vn The Trade Remedies Authority under the Ministry of Industry and Trade (MoIT) said that it had sent questionnaires on end-of-term review of anti-dumping measures against imported galvanised steel products originating from China and the Republic of Korea (RoK) to all foreign steel producers and exporters. Earlier, on June 4, the MoIT decided to conduct the end-of-term review of anti-dumping measures against galvanised steel products imported from China and the RoK. On March 30, 2017, the ministry issued a decision on the application of official anti-dumping measures on imported galvanised steel products in five years from April 14, 2017 to April 13, 2022. According to the Law on Foreign Trade Management and Decree 10/2018/ND-CP, for the end-of-term review, the investigation authority will comprehensively assess the possibility of … [Read more...] about MoIT asks for co-operation in anti-dumping investigation on imported steel products
Vietcombank's headquarters in Ha Noi. The problem of bad debt with small- and medium-sized enterprises becomes more serious when their cash flows are interrupted and unstable, leading to insolvency. — VNA/VNS Photo Tran Viet Bad debts may climb by the end of the year as the pandemic has interrupted the production of many enterprises and they had no revenue to repay debts. Experts proposed the Government and the State Bank of Viet Nam (SBV) extend policies to continue to support businesses. Hoang Van Vinh, chairman of the Nha Trang – Khanh Hoa Tourism Association, said tourism businesses in the province are on the verge of bankruptcy with 95 per cent of hotels closed and less than 5 per cent registering to operate as quarantine facilities. “We want banks to support the businesses directly affected by the pandemic to access interest-free loans,” Vinh told the seminar “Bad debts amid the COVID-19 pandemic – Solutions to support the banking industry and the business community” on … [Read more...] about Solutions proposed to handle bad debts amid COVID-19 pandemic
Vietnam records 1.35 billion USD trade deficit in first half of June Vietnam reported a trade deficit of 1.35 billion USD in the first half of June as exports reached only 12.3 billion USD – down nearly 2 billion USD compared to the latter half of May, the General Department of Customs has announced. Among items posting the strongest turnover decline included computers, electronics and parts with 1.06 billion USD, down 800 million USD; machinery and equipment with 1.1 billion USD, down 260 million USD; and telephones and components with 1.96 billion USD, down 50 million USD. Since the beginning of this year to mid-June, the nation’s trade value surpassed 288.6 billion USD. Of the sum, over 143.3 billion USD came from exports, up 30 percent year-on-year while the remainder of 145.3 billion USD was from imports, up 36 percent. That resulted in a trade deficit of 1.96 billion USD, the department said. According to trade experts, the above-mentioned trade deficit was … [Read more...] about VIETNAM BUSINESS NEWS JUNE 23