Market
MORNING BULLETIN JUNE 12: World Bank Lowers Global GDP Growth Forecast for 2026
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: President Donald Trump has called off military strikes against Iran scheduled for Thursday night, stating that negotiations have reached the highest levels of Iran’s leadership and a final agreement could be signed soon—perhaps as early as this weekend in Europe. However, the Iranian Foreign Ministry denied reports of a completed agreement, asserting that no final decision has been made and claiming that U.S. actions are hindering the diplomatic process.
- Iran: Tehran announced that the Strait of Hormuz remains closed, contrary to Trump’s statement, which had caused oil prices to plummet.
- United States: May PPI +6.5% y/y (forecast +6.4% y/y; previous month: +5.7% y/y). PPI +1.1% m/m (forecast +0.7% m/m; previous month: +1.4% m/m).
- United States: Initial jobless claims for the week ending June 6 reached 229K (forecast: 219K).
- World Bank: Lowered its 2026 global GDP growth forecast to 2.5% from 2.6% (January 2026 forecast). GDP growth could slow to 1.3% if energy supply disruptions persist. Growth in emerging economies is projected to reach 3.6% (last year: 4.4%; January forecast: 4.0%). China’s GDP is projected to reach 4.2% (January forecast: 4.4%). Growth in the Eurozone is projected to reach 0.8% (January forecast: 0.9%). U.S. GDP is projected to reach 2.2% (January forecast: 2.2%).
- Eurozone: The ECB raised interest rates by 0.25 percentage points to 2.25% at its June meeting. The ECB raised its inflation forecast, projecting that headline inflation in the eurozone will average 3% in 2026, before falling to 2.3% in 2027 and returning to the 2% target in 2028. Conversely, the ECB lowered its growth forecast for the eurozone to 0.8% in 2026, 1.2% in 2027, and 1.5% in 2028.
Market News
- VN-Index: The VN-Index is still forming a bottom around the 1,800 level; capital is moving quickly, so investors should trade cautiously.
- TMP: The company has just announced a board resolution to distribute the remaining 2025 cash dividend at a rate of 20%, equivalent to 2,000 VND per share. The ex-dividend date is July 9, and the payment date is expected to be July 31. With a circulating share volume of 140 million shares, Thac Mo will need to spend 280 billion VND to distribute profits to shareholders.
- PDR: The company has just announced a plan to seek written approval from shareholders for several matters within the authority of the General Meeting of Shareholders, notably the proposal to invest in acquiring an equity stake in Lotte Properties HCMC Co., Ltd. with an expected transaction value of 10,400 billion VND.
- POM: The 2026 business plan presented to shareholders shows that Pomina aims for revenue of approximately 8.511 trillion VND in 2026, rising to over 13.194 trillion VND in 2027. EBITDA is expected to reach nearly VND 474 billion this year and over VND 941 billion in 2027.
- GCF: Has recently added notable items to the agenda for the 2026 Annual General Meeting of Shareholders, including a plan to repurchase up to 4 million shares to reduce the charter capital and the election of one new Board of Directors member from Asia Raw Materials Joint Stock Company.
- PTB: Announced a Board of Directors resolution to implement a plan to offer nearly 20.1 million shares to raise capital from existing shareholders this year. This marks the company’s second capital-raising round in just a few months.
- HBC: Projected 2026 consolidated revenue of VND 10,000 billion, up 93% year-over-year; while net profit is expected to remain at VND 250 billion.
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Source: BIDV Securities (BSC)