Market
MORNING BULLETIN JUNE 3: Prime Minister Calls for Breakthrough Mechanisms to Quickly Develop Key Products for the International Financial Center
Updates on global and Vietnamese macroeconomic developments, fluctuations in international and domestic stock markets, and notable news regarding listed companies.
Detailed Report
Macroeconomic News
- United States: There have been various reports regarding whether the United States and Iran are currently engaged in negotiations. Now, Secretary of State Rubio has confirmed that negotiations are ongoing. Another notable statement from him is that "there is a prospect that Iran has agreed to negotiate aspects of its nuclear program that they previously refused to address in discussions."
- China: The PBOC is expected to set the USD/CNY reference rate at 6.7673, according to Reuters estimates. This is one of the most closely watched signals in the Asian foreign exchange market, reflecting Beijing’s policy priorities regarding the yuan.
- Japan: The services PMI weakened in May, with business costs reaching a 43-month high.
- Japan: Approved a supplementary budget of 3.1 trillion yen (equivalent to $19 billion), fully funded by deficit bonds, to support households and businesses amid inflationary pressures from the Middle East conflict and the closure of the Strait of Hormuz.
- Vietnam: Prime Minister Le Minh Hung called for the creation of a breakthrough mechanism to quickly develop key products for the International Financial Center.
- Vietnam: On the morning of June 2, at the Government headquarters, Deputy Prime Minister Nguyen Van Thang chaired a meeting on the plan to evaluate KPIs for ministries, sectors, and localities regarding the disbursement of public investment capital.
- Vietnam: Resolution 09-NQ/TW of the Politburo has outlined a strategic vision to elevate Ho Chi Minh City to the status of a global metropolis. To realize this aspiration, the key breakthrough lies in mobilizing, harnessing, and effectively utilizing all available resources. The key challenge is how to definitively remove legal barriers, unlock capital flows, optimize land use, and attract and retain talent.
Market News
- The S&P 500 index hit a record high during the June 2 trading session as investors monitored the latest developments regarding U.S.-Iran relations and fluctuations in major tech stocks.
- Gold prices rose during the June 2 trading session as investors monitored the latest developments in the Middle East, following U.S. President Donald Trump’s statement that negotiations with Iran were still ongoing.
- RAL: Sets a target for a slight profit decline and postpones the Hòa Lạc project timeline to 2028.
- Announcement from Hoa Phat Agricultural Development Joint Stock Company (HOSE: HPA): The company will complete the payment of 600 billion VND in dividends to shareholders on June 3, 2026.
- Novaland announced the record date for shareholders to participate in the issuance of nearly 168 million shares to increase equity capital from retained earnings. The record date is June 11.
- NT2: has approved relatively conservative targets with flat revenue and a sharp decline in profit. According to the meeting minutes, shareholders approved a revenue plan of nearly 8.2 trillion VND, nearly flat compared to the previous year; however, net profit is only 430 billion VND, down 62%. This is partly due to the expected increase in total costs of approximately 11%.
- SHB: has just announced the results of its employee stock option plan (ESOP) share issuance. Specifically, the bank issued over 90.6 million ESOP shares, equivalent to 1.97% of outstanding shares, at a price of 10,000 VND per share. The issued ESOP shares are subject to a 18-month transfer restriction period starting from the end of the issuance period on May 22, 2026. The expected share transfer date is in June 2026.
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Source: BIDV Securities (BSC)