HIGHLIGHTED NEWS
The State Bank of Vietnam is seeking feedback on a draft amendment to Decree 50/2014 on the management of state foreign exchange reserves. The draft proposes adjusting the principles for evaluating the effectiveness of foreign exchange reserve investments by excluding income and expenses related to gold investment activities, while also adding foreign currency options and a liquidity support mechanism for credit institutions experiencing mass withdrawals. It is known that as of June 18, 2026, Vietnam's foreign exchange reserves reached nearly US$87.6 billion.
The State Bank of Vietnam has also issued guidance on the credit granting mechanism for several key projects. Accordingly, the newly incurred debt of 18 projects, including projects serving APEC, high-speed rail, Gia Binh International Airport, and several PPP investment projects, will be excluded when calculating the annual credit growth limit. In addition, from July 1st, the ceiling for the ratio of short-term capital used for medium and long-term loans will be raised from 30% to 40%, and the State Bank of Vietnam encourages banks to provide syndicated loans for projects with large capital needs.
TRADING STRATEGY
The stock market recovered positively, reaching 1,869 points with a surge in liquidity compared to the previous trading session. Market differentiation continued. Capital flows remained focused on leading stocks in the real estate and banking sectors. Although the VN-Index broke through in terms of points, this was mainly driven by the pull of a few key stocks. The supply-demand balance has not yet shown significant positive changes. Selling pressure remains constant following the index's upward trend. Therefore, the market is unlikely to form a medium-term uptrend that would diversify investment activities. Current trading still revolves around a controlled accumulation strategy of stocks with attractive market prices relative to valuations and fundamental growth prospects, rather than being swept along by the fluctuations of the overall index.
Today, the VN-Index is likely to fluctuate around the 1,855-1,880 point range. Short-term investors tend to closely monitor price movements and independently manage each individual stock in their portfolio to optimize their position and minimize passivity in risk management.
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