Illustrative image (Source: VNA) Hanoi (VNA) – Upturn was seen in the majority of shares on April 8, as motivated by the growth of oil and gas firms as well as banking shares. At the end of the day’s session, the VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased 8.3 points to 997.56 points. More than 163.6 million shares changed hands for nearly 3.43 trillion VND (147.49 million USD). The prices of 148 codes enjoyed increases, while those of 77 remained stable and 128 others dropped. Meanwhile, on the Hanoi Stock Exchange, the HNX-Index rose 1.06 points to 108.93 points. Upturns were recorded in 89 codes, and downturns in 86 codes. Of the VN-30 group, the prices of 15 codes rose, and falls were seen in 10 others. The highest rise was seen in the price of GAS (3.1 percent), followed by VHM (1.9 percent), DPM (1.9 percent), and VIC (0.3 percent). Meanwhile, the sharpest drop was seen in the price of VJC at 2 percent. In the oil and gas group, the price of … [Read more...] about VN-Index nears 1,000-point mark on April 8
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VN-Index drops for eighth session
Viet Nam News HÀ NỘI — The VN-Index fell for an eighth consecutive session on Monday due to increased selling pressure at the end of the trading session. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange edged down 0.41 per cent to close at 908.56 points. The southern market fell a total 4.18 per cent after all five trading days of last week. The HNX Index on the Hà Nội Stock Exchange dropped 1.06 per cent to end at 103.34 points. The northern market index lost a total 2.07 per cent last week. More than 238 million shares were traded on the two local exchanges, worth VNĐ5.4 trillion (US$230 million). Large-cap companies performed well with the blue-chip VN30 Index rising 0.06 per cent to 873.64 points. Meanwhile, market breadth was negative with 262 stocks declining and 159 gaining, while 333 ended flat. Selling pressure hurt 13 sectors of the stock market, with insurance, securities, mining and banking firms the biggest … [Read more...] about VN-Index drops for eighth session
Foreign auto makers’ U-turn: not just not quitting VN, expanding
Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. — Photo vietnamfinance.vn Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. It plans to invest around US$40 million. Earlier Hyundai announced it would build a second plant in Việt Nam in the northern province of Ninh Bình. Mitsubishi Motors expects its second factory in the country to start production later this year. The sharp increase in foreign direct investment in the automobile industry has also been indicated in the latest report by the Ministry of Planning and Investment’s Foreign Investment Department. It … [Read more...] about Foreign auto makers’ U-turn: not just not quitting VN, expanding
Passenger auto consumption rises in May
Passenger auto consumption rises in MayHung Le A view of an automobile exhibition in HCMC - PHOTO: HUNG LE HCMC – Last month saw passenger auto consumption soaring by 13% against April to 15,397 units among 23,065 vehicles sold nationwide, according to a report released by the Vietnam Automobile Manufacturers Association (VAMA) on June 11. The report indicates that the Toyota Vios sedan ranked first, with 2,286 units sold, up 10.12% from the previous month, followed by Toyota Innova, with 1,503 autos, and Mazda 3, with 1,139 vehicles sold, up 15.62% and 30.32%, respectively, against last month. Notably, the Mazda CX-5 in May officially regained the best-selling position among crossover models, with 1,055 units finding buyers in Vietnam, up 50%, pushing the Honda CR-V down to eighth place, with 700 units sold. The fifth place went to the Kia Cerato model, with 1,045 units sold in May, an upsurge of 24%. Meanwhile, consumption of commercial and specialized vehicles in … [Read more...] about Passenger auto consumption rises in May
Stock of Carina Plaza developer dropping like stone
The burning Carina Plaza this morning 577 Investment Corporation, the developer of Carina Plaza Carina Plaza, a project of 577 Investment Corporation, was built on an area of 19,318 square metres on Vo Van Kiet Street in Ho Chi Minh City’s District 8. The total investment was VND927 billion ($40.8 million), including 95 per cent of NBB and 5 per cent from Hung Thanh Co., Ltd. This building was launched in 2012 and was operated by Hung Thanh, a subsidiary of NBB. 577 Investment Corporation was formerly a branch of CIENCO 5 in Binh Thuan province, established under Decision No.4750/QD-TCCB dated November 1, 2004. NBB has set up a joint venture with several enterprises, such as Transport Engineering Consulting JSC No.533, Viet Thanh JSC, Nhip Cau Dia Oc Service JSC, Tam Phu Investment and Contruction Co., Ltd., BOT Rach Mieu Bridge Co., Ltd., and Ninh Thuan Investment and Contruction Development JSC. The major business lines of NBB are real estate development and trade (the core … [Read more...] about Stock of Carina Plaza developer dropping like stone
Gov’t to smooth way for auto firms
Deputy Prime Minister Trinh Dinh Dung has urged the ministries of Transport and Industry and Trade to implement current policies and assist in the removal of obstacles for auto businesses. His request is aimed at enabling auto businesses to develop their operations in Viet Nam. This is part of the Government Office’s concluding report that Dung released at the last week’s meeting on reviewing the implementation of Government’s Decree 116/2017/ND-CP. The decree stipulates the conditions for production, assembly, import and business of automobile warranty and maintenance services, issued on October 17 last year. After a period of validity, Dung said many policies and regulations had met the requirements of automobile development in Viet Nam, especially Decree 116 and the transport ministry’s Circular 03, which aims to clarify the regulations of Decree 116, helping automobile importers implement procedures when they import autos to the Vietnamese market, said the … [Read more...] about Gov’t to smooth way for auto firms
Auto imports drop following government’s new decree
Only 337 cars of all kinds were shipped to the country, according to data of the General Department of Customs. Of the imports, there were only 17 passenger cars with nine seats or less, amounting to 567,000 USD. Notably, no cars were imported from Indonesia and India. Photo for illustration only In 2017, Indonesia was among the top countries after Thailand with the highest number of exported cars to Vietnam. India too had a relatively large number of exported vehicles in 2016. However, in January this year, both the countries did not export any car to Vietnam. Meanwhile, Thailand lost its recognition as the largest import car market in Vietnam, with only 36 vehicles exported to the country since the beginning of the year. Among the automobile export markets to Vietnam in January 2018, Russia suddenly rose to the top, with 159 vehicles being exported, worth 274 billion VND (12.03 million USD), equivalent to 1.7 billion VND each. Under a deal on autos signed between … [Read more...] about Auto imports drop following government’s new decree
Auto dealers fear sales slump on possible fee cuts
Auto dealers fear sales slump on possible fee cutsQuoc Hung By Quoc Hung - The Saigon Times Daily HCMC – Auto manufacturers and dealers are concerned that their sales might go down since a possible car registration fee reduction could lead consumers to suspend their purchase plans. The Government is working on the draft of a resolution thrashing out measures designed to help the corporate sector the difficulties for production and business activities, including lowering the automobile registration fee. If the resolution comes out, the fee for cars with fewer than 10 seats would fall to 10%. The auto market has long been sluggish, so the forthcoming Government move would drive up auto consumption, especially in the shopping season in the lead up to the Lunar New Year holiday. Some said the timing of the car registration fee cut is not appropriate. A source from Ford Vietnam said the company had asked some customers to take delivery in late December, but those buyers have asked for … [Read more...] about Auto dealers fear sales slump on possible fee cuts
Auto imports in record drop in January: GSO
Some 1,000 cars worth US$94 million were imported to the Vietnamese market in January, reports the General Statistics Office.This marks a record drop of 86.2 per cent in volume and 38 per cent in value compared to the previous month.The drop comes after auto businesses, including Toyota Motors Vietnam and Honda, stopped importing autos due to the government’s Decree 116, which tightens control over quality, technical safety and environment protection of imported autos.Speaking at the government’s monthly press conference on February 2, minister and chairman of the Government Office Mai Tien Dung, said a number of embassies and organisations had sent letters to the Prime Minister proposing him to direct relevant ministries and sectors to reconsider the decree.Dung said the Vietnam Automobile Manufacturers’ Association had submitted four letters of recommendation to the government to remove difficulties, saying that the provisions in the decree were … [Read more...] about Auto imports in record drop in January: GSO
VN-Index jumps over 13 points
VN-Index jumps over 13 pointsPhuong Thao HCMC – The local stock market bounced back strongly after dropping in the morning, and closed the session on January 15 on a positive note, with the VN-Index jumping a massive 13.36 points, or 1.27%, at 1,063.47. Turnover on the HCMC contracted against last Friday as trading volume and value slid 17.7% and 22% at 292.7 million shares worth VND7.7 trillion. The VN30 saw up to 21 stocks rising while seven others declined. Dairy firm VNM and consumer goods enterprise MSN were among key losers, falling 0.7% and 0.22% respectively. In contrast, VIC, a property enterprise, advanced over 2.1% at VND87,200 a share on matching volume of nearly four million shares. Meanwhile, low-cost carrier VJC jumped 3.5% at VND160,900 a share and leading fuel distributor PLX increased 4.4% at VND90,500 per share. In the banking sector, VCB closed at the intraday high of VND60,000 per share, up 3.4% versus the previous day, and reported matching volume of over … [Read more...] about VN-Index jumps over 13 points