Stock market how much is a point worth

A worker at a steel mill of Hoa Phat Group (HPG). HPG lost 1.7 per cent on Friday. VNA/VNS Photo The market declined slightly on Friday, dragged down by the banking and steel industries pressured by strong selling force. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index edged down 0.35 per cent to close at 1,269.18 points. The index closed Thursday at 1,273.66 points, down 0.13 per cent compared to the previous session. Market breadth was negative with 338 decliners and 124 gainers. Liquidity increased compared to Thursday with 607.6 million shares traded on the southern exchange, worth VND14.9 trillion (US$636.6 million). The VN30-Index echoed the VN-Index pattern. It lost 0.38 per cent to reach 1,294.93 points. In the basket, six stocks climbed, two stayed flat and 22 slid. Banking was leading the market's fall with most of the stocks in the basket declining, including Vietinbank (CTG), Asia Commercial Bank (ACB), Vibank (VIB) and Tien Phong Bank (TPB), all … [Read more...] about Shares decline slightly on the slump of banking, steel stocks

At the 2022 Emart Partners Day in Ho Chi Minh City last week, which was attended by more than 500 suppliers, THACO chairman Tran Ba Duong said the chain aims to have 20 stores across the country and revenues of $1 billion by 2026 to become the hypermarket chain with the largest market share in Vietnam. Local retail market share battle heats up, illustration photo THACO is one of the largest private groups in Vietnam in the automobile industry with nearly 25 years of experience. In addition to the core business, it also expanded into the retail sector after completing the acquisition of South Korea’s Emart Inc’s business in Vietnam in September last year. “The Emart Go Vap hypermarket soon became a top supermarket in Vietnam in terms of revenues and number of customers, reaching $69.5 million in revenue in 2021. Thus, it is not too ambitious to set the goal of $1 billion for 20 supermarkets,” explained Duong. Before being part of the THACO ecosystem, Emart has … [Read more...] about Local retail market share battle heats up

Thac Ba hydroelectric power plant in Yen Binh District, Yen Bai Province. — Photo genco3.com Thac Ba Hydropower JSC (HoSE: TBC) has closed the list to pay a cash dividend for the second period in 2021. The company said that August 30 is the deadline for the list of shareholders receiving the second dividend of 2021 in cash at the rate of 15 per cent, meaning that a shareholder owning one share will get VND1,500. With the number of outstanding shares of 63.5 million units, Thac Ba is expected to pay more than VND95 billion to shareholders, the expected payment date is September 23. Previously, the company paid the first dividend in cash at the rate of 10 per cent. With this payment, it completes the cash dividend to shareholders in 2021, with a total rate of 25 per cent. Therefore, the company has maintained the highest dividend payment since listing on the stock exchange. The company also paid a 25 per cent cash dividend for 2020 and 2017. Thac Ba Hydropower is the … [Read more...] about Thac Ba Hydropower continues to pay highest dividend

Customers buy moon cakes at a store in HCMC. (Photo Courtesy of KIDO Group) The market this year is forecast to be a special year as last year's festival was affected by the Covid-19 pandemic so sellers could not set up booths to sell moon cakes as usual. Food producer KIDO Group this year plans to sell over 300 tons of moon cakes under KIDO’s Bakery brand. The company said that KIDO’s Bakery moon cakes will hit the market from the beginning of this month. The cakes will be sold in both online and offline channels. Online, the cakes will be available on Lazada, Tiki, and Shoppe, and offline at nearly 600,000 KIDO stores and the Chuk Chuk tea and coffee beverage chain in Ho Chi Minh City and Hanoi. To date, the company has received orders from many companies and organizations who buy the cakes as presents for their staff and partners. Mondelez Kinh Do Vietnam announced that to ensure its moon cakes reach consumers easily, safely, and conveniently, this year, the company … [Read more...] about Moon cake brands prepare for upcoming mid-autumn festival

Processing dragon fruits for export (Photo: VNA) Binh Thuan (VNA) – Exporting fresh fruit in the context of China implementing Decrees 248 , 249 and strengthening cold-chain food imports control were the topics of discussion at a workshop in the south central province of Binh Thuan on August 19. The event was co-organised by the Vietnam Sanitary and Phytosanitary Notification Authority and Enquiry Point (Vietnam SPS) and the provincial Department of Agriculture and Rural Development. According to the Vietnam SPS, China is currently the main market for Vietnam's fruit and vegetable export. However, it is setting higher requirements for agricultural imports, especially regarding traceability, food safety and hygiene, and COVID-19 prevention and control. China’s Decree 248 on regulations on the registration and administration of overseas producers of imported food requires that all overseas food manufacturers, processors, and storage facilities be registered with the … [Read more...] about Workshop helps fresh fruit exporters learn about China’s new regulations

The move is aimed at ensuring the country's long-term self-sufficiency in oil and oil products. Vietnam National Oil and Gas Group (PVN) is planning to build an oil refinery complex worth up to US$19 billion in the southern province of Ba Ria – Vung Tau. The Nghi Son Oil Refinery plant in Thanh Hoa Province, North Central Coast of Vietnam. File photo In a proposal submitted to the Government, the PVN expected the investment would be conducted in phases, of which around 70% of the capital would be allocated for the first phase. According to the PVN, Vietnam's domestic market is set to face a shortage of 19.5 million tons of petroleum products every year by 2030, and the figure could rise to 49 million tons by 2045. At present, the domestic consumption of petrol products is estimated at 18 million tons per year. PVN forecasts the demand to continue rising to 25 million tons by 2025, and 33 million tons by 2030. However, the combined production capacity of … [Read more...] about PVN plans to build US$19-billion oil refinery-storage complex

The People's Court of Binh Thuan Province gives sentences to nine accused related to the largest petroleum smuggling case in Binh Thuan Province. (Photo: SGGP) After five days of trial, the People's Court of Binh Thuan Province, on the afternoon of August 19, gave sentences to nine accused related to the largest petroleum smuggling case in Binh Thuan Province, with a total value of more than VND2.03 trillion from Singapore to Vietnam. Of these, the accused Luyen Xuan Trang, 49, a resident in Hung Yen Province, considered the leader of the largest petroleum smuggling ring in Binh Thuan Province, worth more than VND2.03 trillion, was given a 14-year jail sentence for smuggling. Eight other people were sentenced for consuming property acquired through the commission of the crime by other persons, including Trinh Dinh Thanh with five years in prison, and Tran Van Son with two years in prison. The accused Nguyen Thanh Trang, Le Hong Son, and Do Minh Thu received three years of … [Read more...] about Leader of petroleum smuggling ring receives 14-year jail sentence

Despite a hike on export turnover, the average export price drops 9.6% in the first seven months of 2022. Illustration. (Photo: VNA) Hanoi (VNA) – Vietnam exported roughly 4.08 million tonnes of rice in the first seven months of 2022 to earn over 1.99 billion USD, up 17.3% and 6%, respectively, against the same period last year, customs data shows. Despite a hike on export turnover, the average export price dropped 9.6% during the period to 488.9 USD per tonne. It is likely that rice prices will not increase in the coming time as a result of low demand and abundant supply from major exporters. Generally, the market is currently weak, with low purchasing power, said Nguyen Van Don, Director of Viet Hung Co., Ltd, a food exporter based in the Mekong Delta province of Tien Giang. Since the start of this year, Vietnam mostly exported to the Philippines while shipments to China declined significantly. Exports to other markets, though stable, remained small, he … [Read more...] about Rice exports up but prices down in seven months

There have not yet been many mega deals involving Japanese investors on a par with pre-pandemic levels. What factors are currently affecting Japanese M&A trends in Vietnam? Masataka “Sam” Yoshida, head of the Cross-border Division of RECOF Corporation and CEO of RECOF Vietnam Co., Ltd. First of all, deals as large as VPBank’s sale of its stake in FE Credit to Japan’s Sumitomo Mitsui Financial Group do not occur frequently. In fact, the M&A story in Southeast Asia is largely written by mid-cap companies rather than the large ones, as the region is home to a significant number of companies with enterprise values between $50 million and $500 million. The same is true in Vietnam, where middle market M&A has been a major driver of deal activity. Many smaller Vietnamese enterprises have proven resilient and successful in the face of recent global crises, and they have become desirable acquisition targets. As borders reopened, we got off to a solid start this … [Read more...] about Assessing Japanese M&A deals in a turbulent period

Since Vietnam officially declared the COVID-19 pandemic under control earlier this year, foreign enclaves in Ho Chi Minh City have, once again, begun to bustle, with old stores resuming their operations and new shops opening every day in commercial spaces that sat unoccupied for months on end. Once Vietnam dropped its on-arrival COVID-19 testing requirement for foreign travelers and reopened its international air routes in mid-May, the number of foreigners entering the country began to increase, paving the way for foreign enclaves in Ho Chi Minh City to return to their pre-pandemic life. In Tan Phong Ward, District 7, home to a significant portion of the South Korean community in Ho Chi Minh City, many stores that shut down between late 2020 and early 2022 are once again open for business, and new shops are moving into commercial spaces that have sat empty for months. Kim Yong Min, a South Korean national living in District 7, shared that his eyeglasses stores, which mainly … [Read more...] about Ho Chi Minh City’s foreign enclaves settle into ‘new normal’