MORNING BULLETIN, MAY 19: Deputy Prime Minister Signs Decision No. 883/QĐ-TTg Establishing the Government’s Negotiation Delegation on International Economy and Trade

Detailed Report

Macroeconomic News:

• United States: According to a summary released by the White House regarding the summit meeting between President Donald Trump and President Xi Jinping in Beijing, China has committed to purchasing at least $17 billion worth of U.S. agricultural products annually from now until the end of 2028.
• China: Retail sales for April 2026: +0.2% y/y (expected: +2.0% y/y; previous: +1.7% y/y). Industrial production for April 2026: +4.1% y/y (expected: +5.9% y/y; previous: +5.7% y/y).
• China: China’s housing price index declined in April to -3.5% y/y (previous: -3.4% y/y).
• Japan: The government plans to issue additional debt to fund a supplementary budget, a scenario that would weaken the Japanese Yen (JPY) and push Japanese government bond (JGB) yields higher.
• According to The New York Times, Washington and Tel Aviv are actively preparing for the possibility of a resumption of hostilities as early as next week after indirect talks continued to reach an impasse.
• Vietnam: On May 21, the Management Board of the Vietnam International Financial Center in Ho Chi Minh City (VIFC-HCMC) is expected to launch the Maritime Financial Center with the participation of numerous logistics companies, seaports, banks, and international corporations.
• Vietnam: The Ministry of Finance is drafting a Decree regulating the public offering of bonds by enterprises involved in public-private partnership (PPP) investment projects. In particular, the Ministry proposes new regulations on the conditions for public bond offerings by PPP project enterprises.
• Deputy Prime Minister Pham Gia Tuc signed Decision No. 883/QD-TTg on May 18, 2026, establishing the Government Negotiation Delegation on International Economy and Trade.

Market News:

• The International Energy Agency (IEA) has warned that commercial oil reserves are depleting rapidly, although releases from strategic reserves have helped curb price increases in recent months. However, these reserves “are not infinite.”
• Shipping rates in the Gulf region have surged due to congestion in the Strait of Hormuz; as a result, the cost of transporting a standard 20-foot container (TEU) on this route has risen from $980 prior to the outbreak of the conflict to $4,131 as of the week ending May 15.
• Deputy Prime Minister Nguyen Van Thang will chair a meeting with leaders of ministries, localities, and 23 state-owned corporations and holding companies on the morning of May 19 to review the draft criteria for classifying and restructuring state capital.
• Bao Tin Manh Hai Precious Metals and Gems Joint Stock Company is preparing for an initial public offering (IPO) in the fourth quarter of 2026.
• MCH: Revenue for 4Q2026 reached VND 10.584 trillion, recording a revenue growth rate of 16.6% year-on-year, with all product categories maintaining strong growth momentum.
• The People’s Committee of Nghe An Province, together with a consortium of investors including Vietnam Oil and Gas Power Corporation, Nghe An Sugar Joint Stock Company, and SK Innovation, held the groundbreaking ceremony for the technical infrastructure of the Quynh Lap LNG Thermal Power Plant Project. This is one of the largest energy projects in the North Central region today.

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Source: BIDV Securities (BSC)

Chung khoan BIDV (BSC)