MORNING NEWS, AUGUST 27: Government Considers Adjustments to the 1 Million Social Housing Units Project

Detailed Report

Macroeconomic News

• United States: July PCE rose 3.7% year-over-year; core PCE rose 3.3% year-over-year, in line with forecasts
• The U.S. has no plans to carry out new attacks against Iran in the near future but will focus on other pressure tactics.
• Japan: Plans to support initiatives to build oil pipelines in the Middle East to improve energy security amid the conflict
• Indonesia: Aims to attract $28.2 billion in foreign direct investment through IFCs in the initial phase. This move aligns with the goal of achieving 6% economic growth this year and in 2027, before targeting 8% in 2029
• Vietnam: The government is considering adjustments to the 1 million social housing units project, prioritizing the development of rental housing
• Vietnam: As of August 20, 2026, the country has disbursed VND 477.177 trillion of public investment funded by the state budget, reaching 46.7% of the target set by the Prime Minister.
• Vietnam: The draft amendment to the Investment Law proposed by the Ministry of Finance focuses on two core pillars to expand market access, remove institutional bottlenecks, and enhance the country’s competitiveness.
• Vietnam: The State Bank of Vietnam reported that 12 commercial banks have joined a credit program to support the economy’s growth drivers and the small and medium-sized enterprise (SME) sector, with a total value of approximately VND 408 trillion.
• Vietnam: The Ho Chi Minh City People’s Committee has approved a plan to auction land use rights for 24 plots, with a total area of nearly 105 hectares, located across 7 communes and 11 wards. This is part of a portfolio of 50 land plots, with a total area of over 270 hectares, that the city plans to put up for auction in 2026.

Market News

• VN-Index: A bullish engulfing candle, coupled with trading volume remaining above the 20-session average, has somewhat reinforced the recovery trend. However, the index’s upward momentum is heavily reliant on VIC shares; therefore, capital inflows need to strengthen and spread more broadly for the VN-Index to confirm a return to a short-term uptrend, targeting the 1,860-point range.
• United States: The S&P 500 remained virtually unchanged on August 26, as investors assessed new data showing that inflation remains high and awaited Nvidia’s earnings results.
• The Ministry of Industry and Trade has issued a decision to investigate the application of countervailing duties on certain prestressed steel bar products originating from China, following a complaint filed by Hoa Phat (HPG).
• TCB: Reuters, France’s BNP Paribas, and South Korea’s KB Kookmin Bank are conducting separate negotiations to acquire at least a 15% stake in Techcombank as strategic investors. The deal could be valued at approximately USD 2 billion.
• VIC: Bac Ninh Province has granted land to Vingroup for a USD 1.5 billion urban development project
• Home Credit Vietnam reported after-tax profit of nearly VND 1.344 trillion in the first half of this year, up 15% from the previous period.
• BIC: Announced the record date for the 2025 dividend; the ex-dividend date is October 7. Recorded over VND 240 billion
• PNJ: T. Rowe Price continued to increase its stake beyond 6% by purchasing nearly 4.9 million shares on August 19, raising its ownership from 5.07% to 6.02%.

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Source: BIDV Securities (BSC)