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PV Gas's Cà Mau facility. GAS lost almost half of its gain on Thursday, down 2.4 per cent yesterday. — VNA/VNS Photo Huy Hùng HÀ NỘI — Shares lost rising momentum in the last trading minutes on Friday as divergence continued to expand to the whole market. The VN-Index on the Hồ Chí Minh Stock Exchange slid back to the negative territory after a brief rise on Thursday, down 0.29 per cent to close the week at 1,185.48 points. It gained 1.7 per cent on Thursday after four straight declining sessions. Divergence occurred in almost all groups of stocks, from finance to real estate, even to energy and chemicals. According to analysts, in the context of poor liquidity, supply and demand for stocks can change erratically, so it is difficult for the whole industry to follow the same direction. Overall, the gainers slightly outnumbered the losers by 244-239 while 91 closed flat. In the energy sector, PV Gas (GAS) lost almost half of its gain on Thursday, down 2.4 per cent; … [Read more...] about Shares close the week in negative zone

PV Gas's Ca Mau facility. GAS lost almost half of its gain on Thursday, down 2.4 per cent yesterday. — VNA/VNS Photo Huy Hung Shares lost rising momentum in the last trading minutes on Friday as divergence continued to expand to the whole market. The VN-Index on the Ho Chi Minh Stock Exchange slid back to the negative territory after a brief rise on Thursday, down 0.29 per cent to close the week at 1,185.48 points. It gained 1.7 per cent on Thursday after four straight declining sessions. Divergence occurred in almost all groups of stocks, from finance to real estate, even to energy and chemicals. According to analysts, in the context of poor liquidity, supply and demand for stocks can change erratically, so it is difficult for the whole industry to follow the same direction. Overall, the gainers slightly outnumbered the losers by 244-239 while 91 closed flat. In the energy sector, PV Gas (GAS) lost almost half of its gain on Thursday, down 2.4 per cent; Petrolimex (POW) … [Read more...] about Shares close the week in negative zone on low liquidity

The owner of a construction company said: "The rising costs have caused severe impacts on my company. We have put two projects on hold and are waiting for prices to go down." Huynh’s company in the neighboring province of Binh Duong is likely to report losses on the construction of a road project it began earlier this year. It cannot back away from the project as the work is 75 percent completed. "We use a lot of diesel each day, and so the rising fuel costs have eaten away all of our profits," Huynh said. The rising costs of raw materials amid surging global inflation is posing problems for construction companies who struggle to renegotiate their contracts as losses loom. Cement prices in Vietnam have gone up three times this year by around 28 percent to VND1.2 million ($51.62) a ton. In the latest increase, 15 major cement producers all hiked prices by up to VND80,000 per ton. Steel prices have been falling due to declining demand in China, but others such as sand, … [Read more...] about Construction contractors hit hard by surging costs

Strong recovery According to data from the Hanoi Statistics Office, the index of industrial production (IIP) in the first five months of 2022 grew an estimated 6.4 percent over the same period last year. Realized investment capital from the state budget managed by localities during the reviewed period was estimated at VND15.5 trillion, up 2.3 percent over the same period last year and reaching 30.5 percent of the year plan. Hanoi’s industrial production increased in the first five months of 2022 In the first five months, the city attracted US$703 million from foreign-invested enterprises, up 35.4 percent year on year. Of these, the city granted certificates to 129 newly registered projects with capital of US$96 million; 69 other projects added investment capital of US$216 million; while 146 foreign investors contributed capital and bought shares worth US$391 million. Export turnover of commodities during this period was estimated at US$6.908 billion, up 18.8 … [Read more...] about Hanoi strives to speed up investment disbursement to fuel recovery

A series of measures for flexible and safe adaptation to the Covid-19 pandemic helped ensure Hanoi’s speedy socio-economic recovery. Hanoi’s gross regional domestic product (GRDP) in the first six months of 2022 is estimated to expand by 7.79%, representing a 1.29-fold increase against the same period of last year, according to the municipal People’s Committee. Production at Dong Anh C&F Company. Photo: Duy Khanh “A series of measures for flexible and safe adaptation to the Covid-19 pandemic helped ensure Hanoi’s speedy socio-economic recovery,” stated the authorities’ report. To date, 99.9% of locals above 18 years of age and children aged 12-17 have been vaccinated with the second dose, while in those aged 5 to 12, the rate is 70%. According to the municipal authorities, the high vaccination rate has been one of the key factors for Hanoi to reopen its economic activities and lay the foundation for growth. During the six months, the city’s state … [Read more...] about Hanoi GRDP growth hits 7.79% in first half