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Shares rise for eight consecutive sessions, VN-Index hits new high



Customers at the insurance company Bảo Việt Life, a member of the insurance-finance group Bảo Việt Holdings (BVH). BVH rose 2.9 per cent Wednesday. — VNA/ Photo Trần Việt

 HÀ NỘI — Shares gained for the eighth consecutive trading session Wednesday thanks to increased buying force as market sentiment improved when the VN-Index hit a new high.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index climbed 0.20 per cent to 1,242.38 points with the market breadth turning positive.

The southern market index gained a total 6.9 per cent during the last eight sessions.

During the session, 155 stocks decreased while 267 stocks increased.

The market’s liquidity stayed high with over 727.8 million shares traded, worth over VNĐ16.5 trillion.

The gain of the 30 large-cap trackers was the main driving force for the market’s rally. The VN30-Index increased 0.19 per cent to 1,257.77 points. Of the VN30 basket, 17 stocks gained while seven slid.

Thanks to the continuous increase of the market and no deep corrections, investors boldly entered buying orders, pushing many stocks to rise sharply.

Vingroup (VIC) and Masan Group (MSN) were the two leading stocks in the top ten that have the most positive impact on the VN-Index’s gain. They were followed by Novaland (NVL), insurer Bảo Việt Holdings (BVH), PVPower (POW), Military Bank (MBB), Vincom Retail (VRE), Hà Nội Export-Import Company (GEX).

Meanwhile, real estate company Vinhomes (VHM) and dairy firm Vinamilk (VNM) led the group of stocks that had negative impacts on the VN-Index.

“Despite the pressure of short-term profit-taking in the morning, VN-Index still surpassed 1,240 points in the afternoon session. Investment cash continued flowing into the market,” said BIDV Securities Co.

“Liquidity decreased slightly but remained at a stable level with positive market breadth, showing that cash flow is spreading to the market.

“Foreign investors turned to be net sellers again with the cash flow differentiating to mid-cap stocks, reflecting that the upturn momentum of the VN-Index may slow down and accumulate in the 1,230-1,250 range,” it said.

On the Hà Nội Stock Exchange (HNX), the HNX-Index rose 0.40 per cent to close Wednesday at 292.84 points.

It had risen 0.15 per cent to close Tuesday at 291.68 points.

In Wednesday’s trade, some 164 million shares were traded on the northern bourse, worth nearly VNĐ2.8 trillion. —



Danang suspends BRT project due to its ineffectiveness



A BRT bus is seen at a bus station in Hanoi. The government of Danang City has decided to suspend its BRT project as the investment in the project has yet to bring about social advantages for the coastal central city – PHOTO: TPO

HCMC – The government of Danang City has decided to suspend its bus rapid transit (BRT) project as the investment in the project has yet to bring about social advantages for the coastal central city.

Huynh Anh Vu, deputy director of the Danang City Management Board of Prioritized Infrastructure Investment Projects, which is the project’s developer and operator, confirmed that the management board had reached a consensus with the World Bank, which serves as the lender of the project, on its suspension.

Instead, the management board will focus on completing works related to the development of subsidized bus routes in the city, Vu said, as reported by Lao Dong newspaper.

The decision is considered as the right move as the city’s transport infrastructure system still remains inadequate and measures taken to encourage the use of public means of transport among local residents have not proved effective.

The move was strongly backed by the locals and some of them cited the examples of other localities where trillions of dong were poured into BRT projects but they had failed to address traffic congestion and caused losses to the State budget.

In 2013, the Government approved a master project to develop Danang sustainably with five components: improving the rainwater and drainage system, piloting the BRT system, developing key urban roads, enhancing the capacity and supporting the execution of projects and works transferred from prioritized infrastructure investment projects.

The master project was expected to be completed in June this year, but it has been 84% complete to date with US$185 million spent. Specifically, the BRT project has been 33% complete, while the remaining components have basically been finalized.


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Some coastal hotels report full occupancy as tourists are on the rise



Tourists play outdoor games at a resort. Many hotels in Ba Ria-Vung Tau Province have reported full occupancy as the number of tourists is on the rise – PHOTO: LDO

HCMC – Many hotels in Ba Ria-Vung Tau Province have reported full occupancy as the number of tourists is on the rise, though the holidays of April 30 and May 1 are still a while away, signaling good news for the tourism sector.

Nguyen Van Tuan, manager of Long Hai Hotel in Ba Ria-Vung Tau Province, told Lao Dong Online that over the past one year, the hotel saw few guests and its highest occupancy rate at a mere 20%. However, for some days last week, the number of tourists who booked rooms at the hotel surged, with the occupancy rate at 90%.

For April 17 and 18, the hotel is fully booked, and it is the first time since the coronavirus pandemic that the hotel is seeing some 100 rooms in total fully booked, Tuan said, adding that the hotel was fully booked three weeks ago for the Reunification Day, April 30.

Last weekend, many guests fully booked rooms at Vietsovpetro Ho Tram, said a representative of the resort.

Many hotels at sea tourist destinations near HCMC such as Ho Tram, Long Hai, Vung Tau and Mui Ne are seeing the number of guests soar on weekends.

Do Van Thuc, deputy director of Dat Viet Tour, said that the firm had received rising tour bookings on weekends.

Recently, Dat Viet Tour has been seeing an average 1,500 guests book weekend tours to the sea each week, some 200 kilometers from HCMC, he said.

Apart from this, since March, when the coronavirus outbreak was brought under control in Vietnam, Alo Limo, a transport firm, has become busier on weekends, said Le Gia Thanh Tam, a representative of Alo Limo.

Over the past few weeks, each week has seen some 10-15 groups of tourists book limousines for their trips, mainly to Dalat, Phan Thiet and Vung Tau, Tam said.


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Q2 Thao Dien welcomes residents with full amenities



Q2 Thao Dien is developed by Frasers Property Vietnam and An Duong Thao Dien Real Estate Trade Joint Stock Company, the project will be ready for handover by the end of April 2021. All apartments, office and commercial areas are completed and ready to welcome owners and businesses to move in.

High-end amenities at Q2 Thao Dien.

“Receiving homes with full amenities and service without waiting for a long time is a privilege offered to residents only at Q2 Thao Dien. A new home furnished with high-end amenities gives residents a fulfilled experience and absolute satisfaction”, said Representatives of Frasers Property Vietnam.

Just a-few-steps away from the apartment complex is the premium and stylish [email protected] office tower with a modern design, open space, high ceilings, and gorgeous river views. This architecture gives tenants space to create a unique and inspiring duplex workspace design. This tower is also fully equipped with meeting and event rooms, training/ education areas, coffee space, and professional management services. With numerous outstanding appeals, [email protected] meets the demands of an ideal working space for businesses, especially, a trend of workspace decentralisation to move from the central business districts to nearby dynamic areas.

Q2Terrace is now filled with famous brands, includes Annam Gourmet Market, Dinh Phong – The Butcher & Seafood, Wayne’s Coffee, Peekaboo Café, and Beer Studio, which will also be a place to dine, to meet and to shop, for professionals working at the [email protected]


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