1. Financial market News
VN-Index rises in weekend session as liquidity falls
The VN-Index rose 0.36 percent to 864.47 points Friday (29 May), with total trading volume dropping 30 percent, going back to average levels. Total trading volume fell back down to VND5 trillion ($216.29 million), after HoSE experienced its second busiest trading session so far this year on Thursday, when it rose to VND7.36 trillion ($318.39 million).
Detailed information here.
2. Banking news
All will change' for banks after Brexit: EU head
Brexit will change everything for Britain’s banks and other financial services firms in the European Union, European Commission President Ursula von der Leyen said on Wednesday. “It is a matter of trade off and choices, and nothing will be as it was before, all will change, we have to accept that fact,” von der Leyen said during an event at the London School of Economics. Banking makes up the biggest part of Britain economy, but she said there needed to be difference to the rules that apply to EU member states and those not in the bloc.
Detailed information here.
Central bank mulls ban on purchase of convertible bonds
Commercial banks may no longer be able to buy convertible corporate bonds for restructuring debt to keep bad debt in check. In the near past, some banks have been buying up convertible bonds from businesses in order to restructure their debt. This carries many risks if the businesses continue to run into difficulties and are unable to repay both principal and interest, leading to the issuance of more bonds to restructure debt, the State Bank of Vietnam (SBV) said in a statement Thursday.
Detailed information here.
3. International finance News
China, Hong Kong Push Back Against Trump’s Trade Threats
Hong Kong’s government said actions threatened by President Donald Trump are “unjustified” and that China is within its “legitimate rights” to pursue new national security laws that Beijing says will help quell months of unrest.
Detailed information here
Khoa TCNH
