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Vietnam’s VN-Index drops 60 points in a day, biggest one-day fall in two years

Vietnam’s VN-Index took a dive on Monday losing 4.7 percent wiping about US$10 billion from its market capitalization, according to Doanh Nhan Vietnam. As far as analysis goes, Tuoi Tre is carrying comments from Tran Hoang Son, the strategy director at VPBank Securities Market. He cites geopolitical tensions that have pushed the US dollar up and added pressure to the dong.

Notably, other Asian markets were down but not nearly as much as the Ho Chi Minh City Stock Exchange. Vietnam’s regional peers mostly have floating currencies and therefore changes to the dollar are reflected more or less immediately. This is as opposed to the dong which is on a managed float handled by the State Bank of Vietnam. Under this system, the dong can sometimes take some time to reflect its true market value.

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Vietnamese consumer bank deposits continue to climb

October 3, 2024

Of note, over the last two years in the wake of a broader economic downturn brought on by higher interest rates in key export markets and the near-collapse of Vietnam’s real estate market, everyday Vietnamese have turned to saving rather than spending their excess income. This is problematic in that local consumption has been an important growth driver over the last decade or so. Retail sales, month on month, however,  have been more or less stagnant since the beginning of the year. This latest data from the SBV suggests this could last a while longer…

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Vietnam to self-fund high-speed rail, avoid ‘strings attached’ foreign loans

October 3, 2024

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PetroVietnam Gas Corporation: Vietnam Stock Overview

October 3, 2024

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Vietnam gold ring prices reach all-time highs despite C.bank intervention

October 2, 2024

The gold price in Vietnam is more often than not much higher than it is in the rest of the world. In fact, in 2023, at its peak, the price of a gold bar in Vietnam was around 20 percent higher owing to a number of factors including huge demand and limited supply, the latter due to regulations that restrict gold imports and exports and gold bar production.

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VietinBank: Vietnam Stock Overview

October 2, 2024

Non-interest income fell by 12.6 percent to US$333.2 million, driven by a drop in bancassurance operations, in line with a broader decline in bancassurance revenue following negative publicity in 2023. In addition, securities trading revenue decreased 72.6 percent in contrast to the VN Index which increased by 10.2 percent and other financial institutions like MB Bank which had an eightfold increase in securities revenue year-over-year…

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