Morning Briefing, April 7: National Assembly to Elect President and Prime Minister

Macroeconomic News

• Middle East Conflict: A proposal for a 45-day ceasefire with Iran is still under discussion and has not yet been approved by the U.S. and Iran. Military operations continue and are escalating.
• United States: A deadline has been set for 8 p.m. (ET) on Tuesday for Iran to open the Strait of Hormuz; otherwise, it will face destruction.
• Middle East Conflict: Israel announced it carried out a "powerful strike" on Iran’s largest petrochemical complex (Asaluyeh).
• United States: ISM Services PMI: 54.0 (Expected: 54.9). Business Activity Index: 53.9 (Previous month: 59.9). Employment: 45.2 (Previous month: 51.8). New Orders: 60.6 (Previous month: 58.6) — the highest level in two years.
• United States: In March, nonfarm payrolls increased by 178,000 jobs (forecast: 60,000), while the unemployment rate edged down slightly. This development has somewhat eased concerns about a weakening labor market, following a series of negative signals earlier. Growth momentum came primarily from the healthcare sector following a recovery from the impact of strikes, along with improvements in the retail and transportation sectors.
• Vietnam: Today (April 7), the National Assembly is holding elections for the President and Prime Minister.
• Vietnam: The Minister of Agriculture and Environment issued guidelines for establishing land parcel identification codes.
• Vietnam: The Ministry of Health proposes increasing the standard social allowance by 20% to 600,000 VND per month.

Market News

• Vietnam Stock Market: The VN-Index is testing the SMA20 support level. Declining liquidity reflects the market’s cautious sentiment toward ongoing uncertainties; we believe the market will continue to fluctuate within a narrow range until clearer information emerges.
• LPB: Has just completed the first tranche of its public bond offering, adding nearly 1.016 trillion VND to its Tier 2 capital.
• SKG: Plans to spend over 45 billion VND to acquire a local shipbuilding company. Following the acquisition, SKG must settle nearly 28 billion VND in liabilities at the acquired entity.
• PTB: By 2026, the company aims for revenue of nearly 8.8 trillion VND and post-tax profit of 608 billion VND, representing increases of 19% and 18%, respectively, compared to the previous year. The stone and wood business sectors will be the key drivers of the company’s growth.
• DXS: The Board of Directors approved the dissolution of Dat Phat Hung Real Estate Joint Stock Company, with the process expected to be completed in 2026.
• OIL: Plans to achieve post-tax profit of VND 656 billion in 2026, a 30% increase year-over-year, amid forecasts of continued volatility in the oil and gas market.
• HHV: For 2026, the company has set a record-high business plan with consolidated revenue of VND 4,468 billion and post-tax profit of VND 766 billion, representing increases of 18% and 14%, respectively, compared to 2025 results. Additionally, the company plans to issue nearly 85 million additional shares to increase its charter capital to over VND 6.3 trillion.
• NKG: For 2026, the company plans to achieve revenue of VND 22,000 billion (a 49% increase) and pre-tax profit of VND 400 billion (a 66% increase compared to 2025).

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Source: BIDV Securities (BSC)