MORNING NEWSLETTER, JULY 16: U.S. PPI for June Rises Less Than Expected

Detailed Report

Macroeconomic News:

• U.S.: The June Producer Price Index (PPI) rose 5.5%, below the forecast of 6.2%.
• FED: Fed Governor Cook: Cautiously waiting for inflation to cool, but ready to act.
• United States: The Fed’s Beige Book paints a picture of an economy continuing to grow at a moderate pace, but facing a more uncertain outlook.
• Canada: The Bank of Canada kept interest rates unchanged at 2.25%, as expected.
• Middle East: Kuwait and Bahrain were attacked as Iran retaliated against new U.S. airstrikes.
• South Korea: The Bank of Korea raised interest rates by 25 basis points, as expected.
• Vietnam: Additional allocations of the central government budget expenditure estimate and the central government budget-funded public investment plan were issued to 27 localities.
• Vietnam: European business confidence in Vietnam has risen sharply.
• Vietnam: An additional 5,000 tỷ đồng in charter capital has been allocated to the Vietnam Cooperative Bank.
• Vietnam: Amendments to the Customs Law: Moving toward digital and smart customs.
• Vietnam: The draft Housing Law (amendment) aims to establish a comprehensive, stable, and feasible legal framework for housing development, management, and use in the new phase. In particular, the law introduces a new category of affordable commercial housing to increase the housing supply and meet the affordability needs of the population.
• Vietnam: The Deputy Minister of Construction discussed the service life of apartment buildings, noting that after 50 or 70 years, they will undergo re-inspection; if they are still in good condition, their service life will be extended.

Market News:

• VBMA: Companies repurchased nearly 58.4 thousand billion dong in bonds in June.
• The Ho Chi Minh City Stock Exchange (HOSE) has just announced the list of constituent stocks for the VN30 index for the July 2026 review period. Accordingly, MCH and TCX have been added to the VN30 index.
• PCB: PVcomBank is set to list 900 million shares for trading on UPCoM.
• NTC: Nam Tan Uyen – Second-quarter 2026 profit driven by dividends and profit distribution.
• VNS: An entity affiliated with Vinasun (VNS) leadership intends to divest its entire holding of over 2.5 million shares.
• DMX: Dien May Xanh has filed to list nearly 1.27 billion shares on the HOSE.
• VGC: Viglacera is set to pay over 986 tỷ đồng in 2025 dividends, at a rate of 22%.
• MWG: The Gioi Di Dong reported revenue of over 95,300 tỷ đồng after six months, completing 52% of its annual plan.
• TPB: TPBank reported a profit of over 4,668 tỷ đồng after the first six months of 2026.
• EVF: EVF has been rated B2 by Moody’s for the sixth consecutive year.
• SSI: SSI is set to issue over 500 million shares, increasing its charter capital to over 30,000 tỷ.
• SAB: Subsidiary Sabeco reported a 3.2-fold increase in second-quarter profit, with nearly 60% of its assets in cash.
• MBS: For the first six months of 2026, MBS’s operating revenue reached 2,215 tỷ đồng, up 52% year-over-year.

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Source: BIDV Securities (BSC)