Power supply will meet the anticipated surge in demand during the dry season this year, said Dang Huy Cuong, director of the Electricity Regulatory Authority of Viet Nam.
|Investors monitor trades at the offices of VNDirect Securities Co. Photo Viet Thanh|
Trading value averaged VND637.16 billion (US$30.3 million) per session, reaching only 71.7 per cent of the previous week's average. The VN30 tracking the southern bourse's top shares closed last Friday at 489.61 points, losing nearly 1.6 per cent compared to the previous Friday's session.
The Ha Noi Stock Exchange saw a daily turnover of around VND413 billion ($19.6 million) worth of shares, declining just 5 per cent. The HNX-Index reached 69.35 points, falling 2.1per cent, while the HNX30 tumbled 5.1 per cent to 131.56 points compared to the previous Friday.
Over 600 listed companies out of the total 702 have published their financial report for the second quarter of this year.
Leading the market in net revenue and profit were PetroVietnam Gas (GAS), Vinamilk (VNM), Vietinbank (CTG), Phu My Fertiliser (DPM) and food processor Masan (MSN).
However, more than 60 businesses reported losses in the second quarter. Marine transportation and construction firms suffered badly.
Notably, liabilities accounted for a large proportion in the capital structure of companies such as Gentraco Feed Co (GFC), Long An Food Processing Export Co (LAF), steelmaker Huu Lien Asia (HLA) and Petroleum Sai Gon Construction and Investment (PSG).
"There's various information out there affecting investors," said FPT Securities Co analyst Le Thi Bich Hang. "Although monetary policies have been loosened and interest rates may decline further, increasing corporate bankruptcy and bank bad debts are a hard nut to crack for policy makers."
The market was truly reflecting economic conditions, she added. Investors turned their backs on the stock market, reflected by significantly reduced liquidity.
It needed a strong push from the economy to improve liquidity, she said.
According to the Ha Noi Department of Industry and Trade, prices of essential consumer goods would remain stable for the time being. The department predicted the city's consumer price index next month would increase 0.03 per cent compared to this month. The recent increase in petrol prices would be the main factor affecting the index.
Monthly CPI in July fell 0.29 per cent over June's figure.
"This is the second month in a row CPI has slowed down," Minister of Industry and Trade Vu Huy Hoang said late last week. "This suggests enterprises are facing more business difficulties."
However, Hoang advised to thoroughly consider the balance between consumption and macro-economic issues to avoid high inflation. The Government had requested ministries to focus on reducing inventories, he said.
"We have also offered solutions to boost both domestic consumption and exports. We need to come up with campaigns to convince the public to use Vietnamese products rather than imports," he added.