1. Financial market News
VN-Index hits new peak
Vietnam’s benchmark VN-Index rose 0.75 percent to 1390.12 points Friday (25 June), a new peak, with foreign investors being net sellers for the fourth consecutive session. The index started to surge in the last hour of trading and closed with a 10-point gain, the highest of the past five sessions. Trading value on the Ho Chi Minh Stock Exchange (HoSE) rose 3.5 percent to VND19.13 trillion ($831.7 million). The bourse saw 223 tickers gain and 147 lose. Foreign investors were net buyers for the fourth session in a row to the tune of VND81 billion, with strongest pressure on VHM of real estate giant Vinhomes and VCB of state-owned lender Vietcombank. The VN30 basket, comprising the 30 largest capped stocks, saw 20 tickers in the green, led by SSI of leading brokerage SSI Securities Corporation with a ceiling increase of 7 percent to a new peak.
Detailed information here.
2. Banking news
Deposit interest rate proposed to gradually lower to 0%
The Việt Nam Association of Financial Investors (VAFI) on Tuesday proposed gradually lowering the Vietnamese đồng deposit interest rate to zero per cent. In a letter sent to the Prime Minister, the Ministry of Finance, the State Bank of Việt Nam (SBV), the Ministry of Planning and Investment, and the Central Economic Commission, VAFI said currently, many global and regional countries list deposit interest rates at zero per cent per year.
Detailed information here.
3. International finance News
Vietnam economy to expand 6.7 pct in 2021: UOB
Singaporean lender United Overseas Bank (UOB) forecast Vietnam’s GDP would grow by 6.7 percent this year.
Detailed information here.
