Morning News, March 4: QatarEnergy temporarily suspends natural gas production, Azoty halts all new fertilizer nitrogen orders

Macroeconomic News

• President Donald Trump stated that the US will provide insurance for oil tankers operating in the Persian Gulf to restore traffic through the Strait of Hormuz.
• Qatar Energy, the national energy company of Qatar, has confirmed the suspension of all liquefied natural gas (LNG) production and related activities.
• Azoty, Europe's second-largest producer of nitrogen and compound fertilizers, has suspended new orders due to tensions in the Middle East.
• United States: The Federal Appeals Court rejected the President's administration's request for a delay in the countervailing duty refund lawsuit, transferring the case to the International Trade Court. This paves the way for the refund of more than $130 billion in duties to approximately 2,000 importers.
• Government: Issued Decision No. 367/QĐ-TTg on the Plan to implement the Artificial Intelligence Law. The Ministry of Science and Technology is assigned to lead seven key task groups, including drafting detailed decrees, establishing a National AI Development Fund and a National AI Database integrated into the National Data Center; the AI Fund is expected to be established in the 2026-2027 period.
• Prime Minister: Directed to remove the EC's IUU "yellow card" and develop the fisheries industry in a sustainable and responsible manner.
• Ministry of Industry and Trade: Issued an urgent document requiring increased inspection and strict handling of violations in the petroleum business. This move aims to stabilize the domestic market and supply chain amid escalating geopolitical tensions in the Middle East.
• Ministry of Construction: Placing 4 companies under direct supervision in 2026

Market News

• VN-Index: Continued to drop nearly 33 points and closed at 1,813.14 points. Real estate led the decline, followed by the tourism and entertainment sector. On the other hand, the oil and gas, chemical, and utilities sectors surged due to the short-term impact of the war in Iran.
• US stocks plunged amid concerns over prolonged Middle East conflict
• KOSPI fell more than 7% in the trading session on March 3, 2025, as large-cap stocks such as Samsung Electronics and SK Hynix plunged nearly 10% and 12%, respectively.
• REE: Wants to buy back 100% of the capital of the Phu Cuong 1A and 1B Wind Power Plant Complex project
• BSR: If the conflict in the Middle East continues, oil prices, surcharges, shipping costs, and insurance premiums may continue to rise sharply, significantly increasing input costs and financial risks. Proposal to prioritize domestic crude oil for the Dung Quat refinery
• HAH: Wants to cancel the 2025 ESOP issuance plan to issue up to 2.5 million ESOP shares in 2026
• STB: Mr. Nguyen Duc Thuy officially becomes CEO of Sacombank
• TAL: Seeking partners to sell the remaining portion of Landmark 55
• NAB: Targets a profit of VND 6.2 trillion in 2026
• Xuan Thien Group is implementing a complex project combining industry, agriculture, urban development, tourism, services, and energy in Ca Mau Province.

Source: BIDV Securities (BSC)