Morning Briefing: Starting July 1, 2026, the base salary is expected to be 2.53 million VND per month

Macroeconomic News

• United States: Initial jobless claims for the week ending March 28: 202,000. (Estimate: 212,000; previous week: 211,000 – revised from 210,000).
• United States: U.S. President stated: (1) the operation in Iran was essentially successful. (2) He continued to mention the possibility of a withdrawal within 2–3 weeks (unchanged) but left the option of an attack open; (3) No further clear information on reopening the Strait of Hormuz; (4) The message regarding a ceasefire remains inconsistent; (5) No confirmation of ground troop deployment.
• Iran: The Islamic Revolutionary Guard Corps (IRGC) announced it is targeting steel and aluminum facilities linked to the U.S. in the Gulf. The force emphasized that the current airstrikes are merely "warnings." At the same time, the IRGC vowed that if Iranian facilities and industries are attacked again, "the next retaliatory strike will be far more painful."
• OPEC+: Considering increasing oil production this coming Sunday. This move is reportedly aimed at preparing supply to immediately pump thousands of barrels of oil into the market as soon as the Strait of Hormuz reopens.
• Vietnam: Starting July 1, 2026, the base wage is expected to increase to 2.53 million VND per month.
• Vietnam: The Ministry of Finance has finalized a draft resolution for the National Assembly proposing to exclude kerosene and mazut from the list of goods subject to environmental protection tax and value-added tax.

Stock Market News

• Vietnam Stock Market: The VN-Index is facing resistance as it returns to the 1,700–1,725 resistance zone; in the coming sessions, the index may form a new price base within the 1,700–1,710 range.
• NVL: Targets revenue of 22.715 trillion VND in 2026, 3.2 times higher than the 2025 result. However, net profit is expected to remain at the previous year’s level, at 1.852 trillion VND.
• PSI: For 2026, the company targets revenue of 505.8 billion VND and net profit of 50.6 billion VND, representing increases of 6% and 13%, respectively.
• TLG: Targets net revenue of 4.4 trillion VND, a 5% increase, but post-tax profit is projected to remain flat at 440 billion VND, marking the second consecutive year without profit growth.
• VIC: For 2026, the company has set a target of VND 450,000 billion in net revenue and VND 25,000 billion in corporate income tax-adjusted profit. Compared to 2025 results, this represents an ambitious growth rate, with revenue up 36%; particularly notable is the profit target, which is 2.3 times higher.
• DPM: 2026, developing a more conservative business plan. Targeting consolidated revenue of over 17.6 trillion VND, with post-tax profit expected to reach 680 billion VND.
• PNJ: For 2026, the revenue target is set at 48,660 billion VND, a 37% increase from the previous year, and post-tax profit is projected to reach 3,409 billion VND—a record high, up 21% from the 2025 results.
• VNF: For 2026, the company plans for net revenue of over 1 trillion VND, a 35% decrease; post-tax profit is projected to decline slightly by 22%, reaching nearly 54 billion VND.

View other reports & investment recommendations here.

Source: BIDV Securities (BSC)