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VN-Index slips with foreign investor net sale surge

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VN-Index slips with foreign investor net sale surge

An investor looks at stock prices on the screens at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.


Vietnam’s benchmark VN-Index fell 0.37 percent to 1,372.63 points Monday, as foreign investor net sales value hit an 11-session high.

The index struggled to surpass the 1,370 range and started falling in the afternoon. It closed with a 5-point drop after rising over 21 points in the previous two sessions.

Trade value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell nearly 5 percent to VND22.65 trillion ($983 million). The bourse saw 173 tickers gain and 232 lose.

Foreign investors were net sellers to the tune of VND1.09 trillion, the highest since June 4, with strongest pressure on NVL of real estate developer Novaland Group and HPG of steelmaker Hoa Phat Group.

The VN30 basket, comprising the 30 largest capped stocks, saw 17 tickers in the red, led by SSI of leading brokerage SSI Securities Corporation, down 3 percent.

The ticker has lost 5.8 percent from its peak last week.

TCH of real estate company Hoang Huy Investment Financial Services fell 3 percent to a near 4-week low.

BID of state-owned lender BIDV fell 2.5 percent, having lost over 8 percent since achieving a new peak earlier this month.

REE of industrial appliance maker Refrigeration Electrical Engineering Corporation lost 2.5 percent, while SBT of sugar producer Thanh Thanh Cong – Bien Hoa JSC fell 2.2 percent.

Ten blue chip tickers bucked the trend led by NVL, up 5.8 percent, followed by PLX of fuel distributor Petrolimex, up 3.7 percent.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.78 percent while the UPCoM-Index for the Unlisted Public Companies Market dropped 0.57 percent.

Source: https://e.vnexpress.net/news/business/economy/vn-index-slips-with-foreign-investor-net-sale-surge-4295117.html

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Ministry investigates evasion of trade remedies for cane sugar

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Bags of sugar displayed for sale at a supermarket in Bangkok. — VNA/ Photo Ngọc Quang

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. —

Source: https://vietnamnews.vn/economy/1036330/ministry-investigates-evasion-of-trade-remedies-for-cane-sugar.html

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Santorini masterpiece on the most beautiful avenue of Vung Tau downtown

Léman Cap Residence has taken inspiration from paradise island Santorini in Greece to bring the Mediterranean breath to Ha Long street, the most beautiful avenue in the coastal city of Vung Tau.

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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
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 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

Hotline: 0918887920

Website: https://lemancapresidence.vn/

Fanpage: https://www.facebook.com/lemancapresidences

Source: https://e.nhipcaudautu.vn/real-estate/santorini-masterpiece-on-the-most-beautiful-avenue-of-vung-tau-downtown-3342113/

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Vietnam aims to become world’s farm produce granary

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The national digital transformation program says Vietnam will develop hi-technology agriculture with a focus on smart and precise agriculture, while increasing the proportion of digital agriculture in the economy.

Vietnam aims to become world’s farm produce granary

Opening the forum on digital transformation in Vietnam’s agriculture, Truong Gia Binh, Chair of the Vietnam Digital Agriculture Association (VIDA), stressed that it’s necessary to conduct strong digital transformation in e-commerce, e-payment, logistics and agriculture operations. If Vietnam can successfully do these, it will become a country with great competitive potential.

“Our land is situated in the area which doesn’t need heating in winter. It allows us to harvest many crops all year round. We still develop agriculture with 2/3 of population in rural areas. Vietnam’s IT is developing rapidly. All these factors will turn Vietnam into a farm produce granary of the world,” Binh said.

Deputy Minister of Information and Communications Nguyen Huy Dung said the important role of agriculture in maintaining the survival of the society has been confirmed in the pandemic. Agricultural development is the foundation for socio-economic development.

Digital transformation in agriculture needs to be implemented on the basis of data. It’s necessary to have big data about land, crops, livestock and aquaculture; apply digital technology to automate production and business processes, and supervise origin and product supply chains, ensuring transparency, accuracy, safety and food hygiene; and deploy the initiative ‘every farmer is a businessperson and every cooperative is a business utilizing digital technology’.

Also, it’s necessary to conduct digital transformation in management to have reasonable and timely policies for agriculture development, such as market forecasting and planning management.

According to Dung, the goal is that farmers make products at the lowest possible cost and sell products at the highest possible price. Digital transformation is one of the keys to reach that goal.

Minister of Agriculture Le Minh Hoan said Vietnam is facing three challenges, including climate change, market fluctuations and changes in consumption trends in the world.

However, challenges could turn into opportunities. Vietnam is shifting from the period of agricultural production into the period of an agricultural economy based on technology and digital transformation.

Prof Tran Dang Xuan from Hiroshima University said that 70 percent of Vietnam’s farm produce is from small-scale farming households. These households should be put at the center. Of smart agriculture production areas, Mekong Delta should be put at the center. Farmers should learn how to make online transactions. The Government should create policies to encourage farmers to develop digital agriculture.

The scholar said that Vietnam should learn from Japan when developing digital agriculture by sending students to Japan every year for internships. 

Tam An

Source: https://vietnamnet.vn/en/business/vietnam-aims-to-become-world-s-farm-produce-granary-776788.html

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