HIGHLIGHTED NEWS
According to the Vietnam Bond Market Association (VBMA), approximately VND 111,673 billion of corporate bonds will mature in the remaining months of 2026. Of this, the real estate sector accounts for VND 59,620 billion, equivalent to 54.7% of the total maturity value, while the banking sector accounts for VND 20,755 billion, equivalent to about 19%. As of July 17th, the total value of corporate bond issuance reached VND 272,397 billion, with over 90% being private placements. The value of early redemptions reached VND 164,028 billion, a 27% increase compared to the same period last year.
The Ministry of Finance proposes amending the Law on Resource Tax to shift the tax calculation method for metallic minerals from input minerals to revenue from output products, replacing the current method of converting processed products to raw ore. This change allows for the application of tax rates based on the level of processing to encourage deep processing and investment in technology. The draft also adds a mechanism to combat transfer pricing and stipulates that taxable revenue must not be lower than the price set by the provincial People's Committee to limit budget revenue losses.
TRADING STRATEGY
The stock market corrected downwards, closing at 1,730.56 points with higher-than-average trading volume. The divergence in performance continued. The market recovered in positive territory during the first half of the morning session, but selling pressure emerged and intensified towards the end of the session in the Oil & Gas, Financial Services, Real Estate sectors, and some VN30 stocks. Meanwhile, a few individual stocks in the Banking and Financial Services sectors played a positive role in attracting capital, contributing to supporting the overall index. Foreign investors returned to net buying after a previous period of net selling. Cautious sentiment persisted. The VN-Index is currently in a downward correction phase with support around the 1,700-1,720 point range and is expected to soon enter a sideways consolidation phase within a narrow range to stabilize the supply-demand balance in the coming sessions.
The VN-Index is likely to fluctuate between 1,720 and 1,740 points today. Investors should closely monitor price movements and manage risk based on the individual performance of each stock in their short-term portfolio. On the other hand, for medium- and long-term portfolios, prioritize holding or partially investing in fundamentally sound stocks with attractive valuations and positive prospects for business growth in the second half of 2026.
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