Vietnam’s benchmark VN-Index slipped 0.13 percent to 1,339.70 points Tuesday as HCMC prolongs social distancing for another 15 days while the number of new Covid-19 cases remains high.
The index stayed in the green in the morning and started to dip in the early afternoon. It closed nearly 2 points lower.
Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged 15 percent to VND19.66 trillion ($867.41 million).
HCMC will extend its social distancing order until the end of this month as thousands of new cases are confirmed each day.
The VN30 basket, comprising the 30 largest capped stocks, saw 18 tickers in the red, led by PNJ of Phu Nhuan Jewelry with a 3.3 percent drop.
POW of electricity producer Petrovietnam Power Corporation fell 3 percent, while SSI of leading brokerage SSI Securities Corporation gained 2.5 percent.
CTG of state-owned lender VietinBank continued its slide, which began in June, with a 2 percent drop.
VJC of budget airline Vietjet fell 1.7 percent, and HDB of HDBank lost 1.6 percent.
Seven blue chip tickers gained, led by MSN of conglomerate Masan Group with a 3.8 percent drop.
Trading volume of the ticker rose 61 percent from the average of the last 10 sessions despite reports of the Government of Singapore reducing its ownership in the company by a 1.65 percent stake.
SAB of brewer Sabeco gained 2.8 perct, and VRE of retail real estate arm Vincom Retail rose 1.4 percent.
Foreign investors were net sellers for the 13th session in a row to the tune of VND738 billion with strongest pressure on HPG of steelmaker Hoa Phat Group and VCB of state-owned lender Vietcombank.
The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.34 percent while the UPCoM-Index for the Unlisted Public Companies Market lost 0.26 percent.
EVN reduces electricity purchases as consumption drops
Because of low electricity consumption, thermopower, hydropower, wind and solar power plants have had to cut their capacity.
According to the Vietnam Electricity Regulatory Authority (A0), electricity consumption in the country continued to decrease in the first two weeks of September 2021.
The peak daily capacity of the whole country was 29,700MW, while the total output of the entire electricity system was 624.3 million kwh per day.
As such, the country’s electricity consumption in the first half of the month was 24 percent lower than before, when large-scale social distancing began in mid-July and 15 percent lower than the same period last year.
The peak daily capacity in the south in the first two weeks of September was 12,200MW, while the total output was 243 million kwh per day.
The electricity consumption of the southern region during that time was 29 percent lower than before, when social distancing began and 23 percent lower than the same period last year.
To ensure the safe operation of the national electricity system when consumption goes down as a result of social distancing, A0 and local regulatory units have adjusted the mobilization of electricity to the demand of the whole country and every region, while ensuring technical requirements to regulate the national system safely.
“The regulation of the national system must fit the structure of power sources and transmission capacity among regions. The mobilization of electricity sources in the system is always implemented with the principle of transparency and equality, with no discriminatory treatment to the types of electricity sources,” the Electricity of Vietnam (EVN) stated.
EVN has asked owners of power plants to closely cooperate with A0 and local regulatory units and strictly implement commands on electricity mobilization to ensure the safe operation of the national electricity system, especially when consumption decreases as a result of Covid-19.
This means that power plants will have to cut capacity and their electricity would be unsold.
According to EVN, the power generating units that connect and provide electricity to the national grid have the responsibility of strictly complying with the operation method and commands of the regulatory units which have the right to control and examine as prescribed in Circular 40/2014/TT-BCT stipulating the process of regulating the national power system, and Circular 31/2019/TT-BCT that amends and supplements a number of articles of the process. They have to take responsibility for violations of the law.
In related news, EVN Hanoi reported that as of the end of August, it had reduced electricity prices and electricity bills for clients hit by Covid-19, totaling VND329.58 billion.
Ministry investigates evasion of trade remedies for cane sugar
HÀ NỘI — The Ministry of Industry and Trade (MoIT) on Tuesday issued a decision to investigate the evasion of trade remedies for cane sugar products originating from Thailand after considering requests from domestic sugar producers.
The ministry said it has received the petition of the Vietnam Sugarcane and Sugar Association (VSSA) and domestic cane sugar refineries, which submitted evidence that Thai cane sugar products subject to anti-dumping and anti-subsidy taxes have entered the Vietnamese market through five ASEAN countries of Laos, Cambodia, Indonesia, Malaysia and Myanmar.
The MoIT officially imposed anti-dumping and anti-subsidy duties on a number of sugar cane products originating from Thailand on June 15, 2021.
Data of local customs agencies shows that the volume of sugar imported from the five above-mentioned ASEAN countries had increased sharply to 527,200 tonnes from 107,600 tonnes after Viet Nam initiated an anti-dumping and anti-subsidy investigation into sugar from Thailand from October 2020 to June 2021.
Meanwhile, the import volume from Thailand has decreased by nearly 38 per cent, from 955,500 tonnes to 595,000 tonnes in the period.
The MoIT has actively coordinated with the VSSA to monitor the import of cane sugar products and actively consulted and assisted the VSSA, as well as the domestic cane sugar industry, in collecting information and data and making a petition to request an investigation into this behaviour. —
Santorini masterpiece on the most beautiful avenue of Vung Tau downtown
Project inspired by Santorini Paradise, a destination of Hollywood stars
Santorini is a mainstay on the list of Top 10 paradise islands by the famous American Travel + Leisure Magazine. The island has also been voted as one of the Top 20 most expensive vacation destinations in the world with five-star luxury resorts. It is apparent why many famous Hollywood stars choose Santorini for vacationing.
Rumor has it that “Mrs. Smith” Angelina Jolie once bought a villa right on Santorini island for annual vacations. If you ever get lost here, you will most likely come across Tom Hanks and his wife, Shakira and Pique, or basketball player Michael Jordan. Music star Justin Bieber has also been to Santorini to enjoy the delicious food and wine. The island’s famous specialty is made from grapes grown on the volcanic mountains.
Santorini has always been an irresistible magnet with its characteristic Cycladic architecture, an integral part of the Mediterranean culture. Cycladic architecture is famous for its uniqueness and charm, providing the islands with minimal aesthetics but with a daring style. The most prominent characteristic of this architectural style, are the white washed cube houses built next to and on top of one another.
|Léman Cap Residence – a diamond at the most expensive luxury boulevard in the coastal city of Vung Tau|
Visit Léman Cap Residence – a diamond at the most expensive luxury boulevard in the coastal city of Vung Tau
Visitors looking for a taste of Greece need not go that far anymore. Léman Cap Residence now captures the essence of the paradise island Santorini in its design and architecture. Travel lovers can now visit the made in Vietnam Santorini to admire the beauty of the island on Ha Long Street in Vung Tau.
Ha Long is the most bustling street in Vung Tau with well-developed transport infrastructure surrounded by thousands of five-star entertainment services. Along the avenue lie many famous tourist attractions such as Front Beach, Pineapple Beach, Nghinh Phong Cape, Bai Dau and Bai Sau tourist areas, which welcome millions of tourists every year.
Just a few minutes walk from Léman Cap Residence apartment to Ha Long Street, you can easily access a variety of branded shophouses, specialty restaurants, entertainment services, temples and churches, which are the cultural symbols of Vung Tau. Being located on the central route of the city, visitors can reach other areas quickly and easily via Long Thanh International Airport, Ring Road 4 connecting Vung Tau with the western region, as well as many other highways.
The masterpiece Léman Cap Residence fascinates with its unique Santorini architecture with characteristic white and blue colours. The project offers remarkable and unique ocean views while leaning against the green hills. A forest in the middle of the busy street, Léman Cap Residence is a separate resort complex with green nature, blooming flowers and chirping birds all year round.
|Léman Cap Residence is located in Ha Long street – the most beautiful central avenue in the coastal city of Vung Tau|
Léman Cap Residence will leave impression on people with its beauty. Léman Cap Residence is a unique Santorini masterpiece with the immense blue sea in front and the fresh green mountains behind. Meanwhile, the surrounding areas are bustling and colourful entertainment complex.
Léman Cap Residence: Masterpiece Santorini – A diamond on the most beautiful central avenue in the coastal city of Vung Tau
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