MORNING NEWSLETTER, AUGUST 5: U.S. Treasury Secretary Says Agreement on the Strait of Hormuz Is Imminent

Detailed Report

Macroeconomic News

• United States: The Treasury Secretary stated that Washington is negotiating with Tehran and that the two sides may reach an agreement as early as August 4 or 5 to reopen the Strait of Hormuz and bring the conflict back to a more normal state.
• Vietnam: The Politburo issued Resolution No. 23 on work related to Vietnamese nationals abroad. It emphasizes the spirit of national harmony and the elimination of prejudice.
• Vietnam: The National Assembly discussed three draft laws and considered the establishment of two cities, Quang Ninh and Bac Ninh
• Vietnam: The government submitted to the National Assembly a proposal to codify six conditions under which active and innovative officials who commit violations—but do so for the common good and without corruption or waste—will not face criminal liability.
• Vietnam: For the 2026–2030 period, Vietnam plans to develop 88 national standards and 6 national codes to support the implementation phases of the nuclear power project and other fields utilizing nuclear energy.
• Vietnam: General Secretary and President To Lam stated that Hanoi needs to redevelop its city center and implement a plan to decentralize the inner city population to facilitate urban development, noting that without such decentralization, “it simply cannot be done.”
• Vietnam: The Hanoi City People’s Council has recently proposed studying a financial support mechanism aimed at easing loan conditions for buyers of social housing, while also developing long-term preferential credit packages to address capital bottlenecks for both businesses and residents.
• Vietnam: Ho Chi Minh City is preparing for a major turning point in its urban development process by drafting 81 resolutions to implement the Urban Development Law as soon as it is passed by the National Assembly

Market News

• VN-Index: rose more than 14 points to close at 1,777.23 points. Market breadth leaned toward the positive, with 12 out of 18 sectors gaining ground. Foreign investors continued to be net buyers on the HSX and net sellers on the other two exchanges. The VN-Index is heading toward the 1,800-point level, though it has yet to gain consensus from capital flows.
• United States: The S&P 500 and Dow Jones both hit new record highs thanks to a positive earnings season and plummeting oil prices following optimistic signals regarding the potential reopening of the Strait of Hormuz.
• Vietnam: To support banking system liquidity, the Ministry of Finance plans to amend regulations related to hundreds of thousands of tỷ, expected to take effect on January 1, 2027.
• The Vietnam Stock Exchange (VNX) reported after-tax profit of over 1,419 billion VND in the first half of 2026, up 38% year-over-year. The main source of revenue continues to come from its subsidiaries, the Ho Chi Minh City Stock Exchange (HOSE) and the Hanoi Stock Exchange (HNX).
• LPB: Deposit interest rates at LPBank in August rose sharply across nearly all terms, with rates for terms of 6 months or longer exceeding 7% per year.
• NTP: Mr. Pham Hong Son, who has nearly 26 years of experience at the State Securities Commission (SSC) and previously served as Vice Chairman for nearly 9 years, is a candidate for a seat on NTP’s Board of Directors following Mr. Trinh Van Tuan’s disqualification.
• Xuan Cau Holdings: Begins construction of a solar power project under the DPPA mechanism
• HBC: Second-quarter net profit fell by more than half; the company is proceeding with the issuance of over 51.4 million shares to swap debt.
• NKG: Shifted from profit to loss in Q2 2025 following an inspection by the State Securities Commission.

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Source: BIDV Securities (BSC)