MORNING BULLETIN JUNE 10: U.S. Strikes Iran in Response to Downed Apache Helicopter in the Strait of Hormuz

Detailed Report

Macroeconomic News

• United States: Strikes Iran in response to the downing of an Apache helicopter in the Strait of Hormuz. The Strait of Hormuz remains virtually closed, keeping the oil supply risk premium at a high level.
• United States: April trade deficit of $55.9 billion (forecast: $56.1 billion; March: $56.6 billion).
• United States: In May, the NFIB Small Business Optimism Index fell 0.6 points to 95.3, remaining below the 52-year average of 98.0. The Uncertainty Index rose 3 points from April to 91, still well above the historical average of 68.
• China: Exports +19.4% y/y (forecast +15.0%, previous +14.1%). Imports +27.4% y/y (forecast +25.0%, previous +25.3%). Trade balance +$105.43 billion (forecast +$92.1 billion, previous +$84.82 billion).
• China: Passenger car retail sales fell 22.1% y/y to 1.51 million units in May, as rising oil prices continued to erode demand for gasoline-powered vehicles and drove buyers toward electric and hybrid vehicles. According to the China Passenger Car Association (CPCA), electric vehicles and plug-in hybrids accounted for 62.9% of total new vehicle sales.
• Japan: The PPI for May rose 6.3% year-over-year (vs. a forecast of 5.5% y/y) and 0.9% month-over-month (vs. a forecast of 0.5% m/m).
• Vietnam: The Politburo has directed a further reduction in the civil service workforce by 5–10%.
• Vietnam: The General Department of Customs reported that the primary cause of the trade deficit exceeding 15 billion USD stems from a sharp increase in imports of computers, electronic components, energy products, and various goods used in production.
• Vietnam: In the first five months of the year, the General Department of Customs detected and handled over 8,900 cases, with the total value of the goods involved estimated at 8,394.3 billion VND.

Market News

• The downward trend slowed yesterday. The VN-Index needs a few more sessions to stabilize its trading range and find a new equilibrium point.
• YBM: Q1 2026 profit surged 3.4 times compared to the same period last year. The company has continuously spent tens of billions of VND to expand investments and establish subsidiaries. Meanwhile, YBM has also appointed a new Chief Accountant.
• BAF joins the pork trading platform.
• DFC: Announced the record date for cash dividends for 2025. The ex-dividend date is June 17. With 11.4 million shares outstanding, the company is estimated to need approximately 44.5 billion VND to complete the payment. The funds are expected to reach shareholders on June 29.
• FCN: Announced materials for the 2026 Annual General Meeting of Shareholders, scheduled for June 27, presenting a record-high consolidated revenue plan of VND 5,600 billion, a 15% increase compared to 2025 results; while net profit is projected at 200 billion VND, a 6.3-fold increase.
• HTG: Has announced a Board of Directors resolution regarding the issuance of shares to pay dividends. Accordingly, HTG plans to issue 7.2 million shares to pay dividends for 2025, corresponding to an issuance ratio of 20% of the total 36 million shares currently outstanding.
• SBS: Held its 3rd Annual General Meeting of Shareholders for 2026. The company has set a target of net revenue of approximately 120–140 billion VND, operating and management expenses of approximately 112–130 billion VND, and operating profit of approximately 3–5 billion VND; and simultaneously changed the company’s name to Saigon Thuong Tin Securities Joint Stock Company.

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Source: BIDV Securities (BSC)