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MORNING NEWSLETTER, JUNE 19: MSCI – Vietnam Has Made Progress, but Challenges Remain
Updates on global and Vietnamese macroeconomic developments, fluctuations in international and domestic stock markets, and notable news regarding listed companies.
Detailed Report
Macroeconomic News
- China: China’s National Development and Reform Commission (NDRC) announced it will disburse the third tranche of the 62.5 billion yuan subsidy fund for the “trade-in” program before the end of June, continuing efforts to boost domestic consumption following weak retail sales data released earlier this week.
- Vietnam–Russia: The Russian Direct Investment Fund seeks to deepen cooperation with Vietnam.
- Vietnam–Russia: Prime Minister Le Minh Hung and President Putin agreed to accelerate negotiations to bring the Ninh Thuan 1 Nuclear Power Plant project into operation as soon as possible.
- Vietnam: The Ministry of Finance reported that public investment disbursements from the beginning of the year through June 11, 2026, totaled 245,055.7 billion VND, reaching 24.2% of the target set by the Prime Minister. Among them, 28 ministries, agencies, and 18 localities have disbursement rates below the national average.
- Vietnam: The Vietnam Road Administration has just launched a “rapid construction campaign” to accelerate the construction of rest stops along the Eastern North-South Expressway, requiring the completion of all public service facilities by June 30, 2026.
- Vietnam: After more than a month of review, the Ho Chi Minh City Inspectorate has determined a course of action for 70 out of 95 projects facing prolonged difficulties and bottlenecks, including many projects by Novaland, Hodeco, Ha Do, Becamex, NRC, and a host of other real estate companies.
- Vietnam: The Ho Chi Minh City People’s Council will consider approving the investment proposal for a sea-crossing road project connecting Can Gio with Vung Tau under a PPP framework, specifically a BT contract.
Market News
- United States: The S&P 500 rebounded strongly thanks to the chip sector, offsetting the shock from the Fed meeting.
- MSCI noted that Vietnam has made some improvements in foreign ownership regulations and disclosure practices, but the market still faces many bottlenecks.
- ACV: Violations at Long Thanh Airport are “out of control,” with profits expected to drop by more than 40%.
- PVS: PVS Annual General Meeting: Cautious targets following a record-profit year; significant increase in investment for mega-projects.
- TCI: Thanh Cong Securities (TCI) plans to replace all five members of its Board of Directors.
- TCH: Dragon Capital is no longer a major shareholder in Hoang Huy Finance (TCH).
- VCI: Vietcap (VCI) signed a syndicated loan agreement for 170 million USD, with a Greenshoe option to increase the limit to up to 370 million USD.
- DMX: More than 166 million shares from Dien May Xanh’s IPO have been allocated, with institutional investors accounting for 90%.
- GSP: Gas Shipping (GSP) Annual General Meeting of Shareholders: Set a revenue target of 3,200 tỷ đồng for 2026.
- VBB: VietBank has been approved for listing on the HOSE.
- SGN: SGN Annual General Meeting: The company has overcome its difficult phase and is awaiting contributions from Long Thanh starting in 2027.
- DPM: DPM aims to build a comprehensive nutrition ecosystem for crops.
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Source: BIDV Securities (BSC)