Market
MORNING NEWS BULLETIN, JUNE 26: Government Proposes Raising Public Debt Ceiling to 50% of GDP and Increasing Budget Deficit to Boost Growth
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 and the U.S. have agreed to establish a trade council, under which economic and trade delegations from both sides will discuss cooperation, including reciprocal tariff reductions.
- European Union (EU) member states have given final approval to the tariff agreement reached with the U.S. in 2025, allowing the agreement to take effect before the July 4 deadline set by President Donald Trump.
- United States: May PCE inflation was +4.1% (YoY), in line with forecasts; May core PCE inflation was +3.4% (YoY), also in line with forecasts.
- United States: Initial jobless claims for the week ending June 20 were 215,000, below the forecast of 225,000; the previous week’s figure was revised upward from 226,000 to 227,000.
- Iraq warned that it may leave OPEC if the group of oil-producing nations does not raise Iraq’s oil production quota.
- Vietnam: To support development investment, the government aims to increase budget revenue mobilization for the 2026–2030 period by an additional 1–2 percentage points of GDP, raise the target share of domestic revenue from 86–87% to 87 –88%, and to adjust the budget deficit target by 2030 from 3% of GDP to approximately 5% of GDP, with the public debt ceiling rising from 45% to 50% of GDP.
- Vietnam: Ministry of Finance Proposes Extending Import Tax Exemptions on Petroleum Products Through September 30, 2026
- Vietnam: The Ministry of Finance proposes new regulations on the scope of taxpayers subject to non-agricultural land use tax.
- Vietnam: Agreement Reached to Designate Hanoi City as the Managing Authority for Two National Railway Projects
Market News
- VN-Index: fell nearly 15 points to close at 1,863.07 points. Market breadth leaned toward the negative, with 12 out of 18 sectors declining, led by the Oil and Gas sector, followed by Real Estate. The index is seeking equilibrium above the 1,855 level, and the trend remains unclear. Investors continue to trade cautiously during this period.
- United States: The Nasdaq fell for the fourth consecutive session as Apple’s stock plummeted and profit-taking in tech stocks continued, despite Micron Technology reporting earnings that far exceeded expectations. Stocks outside the AI sector helped the Dow Jones Industrial Average hit a session high.
- Aeon Mall continues to expand its market share in Vietnam with a project spanning approximately 7.7 hectares, with a total estimated investment of over 3,900 tỷ đồng in Bac Ninh.
- DGC: HoSE will change the stock’s status from “under surveillance” to “warning” effective June 30; trading will continue throughout the day.
- SAS: First-half pre-tax profit exceeded 400 tỷ; the company plans to list on the HoSE.
- PHP: Will distribute a dividend at a rate of 9% per share, meaning shareholders will receive 900 VND per share.
- BCM: Plans to develop a capital increase proposal linked to a roadmap for restructuring the state’s equity ownership ratio, while also planning IPOs for certain subsidiary companies to realize investment value and reallocate resources to strategic sectors such as infrastructure, energy, and railways.
- Sovico Group paid more than 1,050 tỷ đồng in principal and interest on bonds.
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Source: BIDV Securities (BSC)