Shares edged higher on Friday morning, boosted by gains in bank stocks and some other large-cap stocks in the manufacturing sector. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 6.84 points, or 0.51 per cent, to 1,352.71 points. The market's breadth was positive with 265 stocks increasing, while 136 stocks declined. The liquidity also improved, showing the return of investors' risk appetite. Accordingly, investors poured over VND12 trillion (US$527.6 million) into the southern bourse, equivalent to a trading volume of nearly 462 million shares. The benchmark's rally was driven by bank stocks and some other large-cap stocks. The VN30-Index, tracking 30 biggest stocks in market capitalisation on HoSE, posted a gain of 6.18 points, or 0.43 per cent, to 1,455.16 points. Of the VN30 basket, 16 stocks climbed, while 10 slid and four stayed flat. Data compiled by vietstock.vn showed that Vinamilk (VNM) was the market's leader this morning with a rise of … [Read more...] about Market backed by bank and manufacturing stocks
When share market will recover
Two investors at the trading floor of TVSI Securities Co. The number of new accounts opened in August soared to 120,500, many of which were individual investors. — Photo tinnhanhchungkhoan.vn The stock market is becoming a favoured and profitable investment channel for investors amid the COVID-19 pandemic but it also poses many challenges for regulators and market members. Money flowing into the stock market comes from many different channels and mainly from domestic investors. The stock market has lured massive participation of "F0" investors (people participating in the market for the first time) entering the market from early 2020, when the COVID-19 pandemic first spread. The number of new accounts opened in August soared to 120,500, many of which were individual investors. The strong cash flow flooding the stock market in August has spurred market liquidity. In August, the average trading value per session on HOSE via matching transactions reached VND21.7 trillion (US$954 … [Read more...] about Stock market a favoured investment channel for local investors
Businesses want improved technical standards to entice them further. Photo: Le Toan Trieu Minh Long, head of the Ministry of Information and Communications’ (MIC) International Cooperation Department, said that Vietnam is studying and completing regulations guiding 5G standards, deemed urgent to address equipment, network, infrastructure, service quality, and cybersecurity issues. Networks, infrastructure, and cybersecurity are among the strong interests of US technology firms in Vietnam, with specifics focused on 5G applications, solutions to meet growing demands in cybersecurity and open market acceleration, and also Vietnam-US trade and investment cooperation. At a conference held in early September between the MIC and the US Trade and Development Agency about 5G standards, Vietnamese telecoms giants like MobiFone and BKAV as well as leading powerful US technology titans such as Qualcomm, Intel Palo Alto Networks, Oracle, and Mavenir discussed the possibilities of boosting … [Read more...] about US tech groups hope for sharing access
Socar Mall in Thu Duc city is scheduled to open in the first quarter, but now is still in delay. Photo: Le Toan Amid the long social distancing, almost all retail centres have been closed for the past few weeks, with many utilising this time to repair and renovate their spaces. In Hanoi, the lockdown has also delayed the openings of several malls such as Vincom Mega Mall Smart City in South Tu Liem district, which may be opened at the end of this year, six months after the original schedule. In Ho Chi Minh City, the retail real estate market was predicted to see 170,000 square metres of new floor area come online in 2021. However, only Co.op Mart Truong Chinh in Tan Phu district was opened with 16,000sq.m in May. Plans for new retail centres in 2021, including the Socar Mall in Thu Duc and other neighbourhood shopping centres, are also unlikely to meet required occupancy rates for a launch. Many projects have also delayed construction or opening, even after finishing … [Read more...] about Lockdown chance to readjust retail
Israeli demand increased for Vietnamese tuna in the first half According to statistics from the General Department of Vietnam Customs, in the first half of August, Vietnam's tuna exports to Israel were down 19 per cent on-year. However, accumulated to August 15, the total value of Vietnam's tuna exports to Israel increased by 34 per cent over the same period in 2020, reaching nearly $25 million and accounting for 5.6 per cent of total tuna exports. Israel continues to be Vietnam's third-largest single tuna export market after the US and Italy. The export turnover to this market is still increasing over the same period thanks to the offset from previous months. According to the International Trade Centre, in the first half of this year, Vietnam surpassed Thailand to become the largest tuna supplier to Israel, accounting for nearly 31 per cent of total tuna imports. Notably, while Israel's tuna imports from most markets decreased, imports from Vietnam increased. Compared to … [Read more...] about Vietnam becomes largest tuna supplier to Israel
E-commerce is one of the safe solutions to stimulate consumer demand The government is looking for a path to live with coronavirus after nearly two years of the COVID-19 outbreak worldwide. As the pandemic continues to linger, it is urgent for the government and policy-makers to find a proper solution to restart the economy. The many pilots over the past half year showed that it is essential to allow e-commerce marketplaces and online platforms to serve customer demand during the pandemic. In August, Thu Duc City piloted a programme to support the purchase of essential goods through GrabMart. In just a few hours after the launch, more than 10,000 pre-orders were recorded. It is clear that the e-commerce partnership will help to reduce the burden on local authorities and timely support the needs of the people. According to Ray Liang, chief operating officer of Society Pass (SoPa), the US operator of the Leflair e-commerce platform, shopping through an e-commerce platform will … [Read more...] about Living in a pandemic: Boosting consumption or waiting to die?