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Inside a factory of Hoa Phat Group (HPG). HPG increased 5 per cent on Monday. — VNA/VNS Photo Vietnamese shares on Monday surpassed the 1,200-point mark, underpinned by steel and banking stocks. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 1.46 per cent, to 1,202.82 points. The benchmark last week registered a weekly decrease of 2.6 per cent. Nearly 527 million shares were traded on the southern bourse, equivalent to VND12.3 trillion (US$529 million). Market breadth was positive with 116 losers and 340 gainers. In the banking group, most of the stocks gained ground including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Viet Nam (BID), VietinBank (CTG), Viet Nam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tien Phong Bank (TPB). Vietcombank (VCB) was the only decliner in the group. Steel stocks also attracted cash flow with gainers including Hoa Sen Group (HSG) rising 5.3 per … [Read more...] about Market surpasses 1,200-point mark thanks to steel, banking stocks

The index closed 17.34 points higher after losing 3.4 points Friday. Trading on the Ho Chi Minh Stock Exchange increased by nearly 21 percent to VND12.32 trillion ($529.7 million). The VN-30 basket, comprising the 30 largest capped stocks, surged to the highest in a week with 26 tickers gaining. SSI of leading brokerage SSI Securities rose 6.7 percent, extending its gaining streak to the fourth session in a row. NVL of real estate developer Novaland closed 6.5 percent higher, with trading value highest since last December. Other winners included PNJ of Phu Nhuan Jewelry, up 6.1 percent, and HPG of steelmaker Hoa Phat, up 5 percent. Four bucked the trend, led by VIC of Vietnam's biggest conglomerate Vingroup JSC with a 1.1 percent drop. The ticker is now at a 27-month low, having fallen 42 percent from its peak last April. VNM of dairy giant Vinamilk, and MWG of electronics retailer Mobile World both lost 0.6 percent. VCB of the largest state-owned lender Vietcombank … [Read more...] about Blue chip stocks hit weekly high

Hungary was the first European Union state to approve the EU-Vietnam Investment Protection Agreement (EVIPA). Vietnam and Hungary are expected to sign an agreement on cooperation between the two parliaments in replacement of the one inked in 2008. Chairman of Vietnam’s National Assembly Vuong Dinh Hue and István Jakab, Deputy Speaker of the National Assembly of Hungary, in Budapest on June 26 (local time). Photos: VNA The agreement would be signed during the visit to Budapest by Chairman of Vietnam’s National Assembly Vuong Dinh Hue on June 26-28 at the invitation of Speaker of Hungary’s National Assembly László Kövér. The parliamentary cooperation is evidence of the Comprehensive Partnership agreed in 2018 during the visit paid by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong to the European country. The cooperation agreement is believed to cover three main fields namely the exchange of visits of high-profile officials and … [Read more...] about Vietnam, Hungary to sign new parliamentary cooperation agreement

National Assembly Chairman Vương Đình Huệ meets representatives of the Vietnamese entrepreneur community in Europe in Budapest on June 26. — VNA/VNS Photo Doãn Tấn BUDAPEST — National Assembly (NA) Chairman Vương Đình Huệ met representatives from the Vietnamese entrepreneur community in Europe in Budapest on June 26 evening (local time), as part of his official visit to Hungary. Hoàng Mạnh Huê, president of the Union of Vietnamese Business Associations in Europe, said that the community has made great strides in recent years with encouraging successes, and become an effective bridge between the Vietnamese and European markets. They not only import a lot of commodities from Việt Nam into the European market and the supply chain of businesses in the host countries but also have been very successful in building a stable and efficient business model in accordance with the host countries’ laws, Huê added. The Vietnamese business community in Europe has deeply integrated into local … [Read more...] about NA Chairman meets Vietnamese entrepreneurs from across Europe in Hungary

Chairman of the Korean Business Association in Việt Nam, Shon Young Il, speaks at a dialogue between Korean business executives and HCM City authorities on June 24. — VNA/VNS Photo Xuân Anh HCM CITY — The chairman of the Korean Chamber of Commerce and Industry in Việt Nam, Shon Young Il, has called on HCM City authorities to help Korean firms resolve difficulties they face in investing and operating in the city. Shon was speaking at a meeting between Korean business executives and city officials late last week organised by the People’s Committee and Korean consulate general in the city. The meeting was held to review the performance of Korean enterprises and for the city officials to listen to their problems and offered solutions. The problems discussed included some related to labour, with Shon saying a number of businesses complained about difficulties in obtaining work permits for foreign workers. Reducing costs, including salaries, is an imperative part of doing … [Read more...] about HCM City promises to ease problems faced by Korean investors