1. Financial market News
VN-Index gains narrow in fifth straight gaining session
The VN-Index edged up 0.17 percent to 841.46 points Friday, with gains driven by big- and mid-capped stocks. Overall, the VN-Index has been able to claw back a total of 43.07 points, or 5.39 percent, this week. However, the gains, as high as 2.04 percent on Monday, have been narrowing down in every session. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw a fairly balanced session with 185 stocks gaining and 177 losing. Total trading volume improved 10 percent over the last session, reaching VND4.55 trillion ($195.92 million). Notably, 62 percent of this cash flow went into stocks off the VN30, a basket of market’s 30 largest capped stocks, which usually accounts for more than half of total trading each session. The VN30-Index this session added 0.7 percent, with 13 gainers and 14 losers.
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2. Banking news
Vietcombank completes three pillars of Basel II before the deadline
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) said that it had applied internal capital adequacy assessment process (ICAAP) of the Pillar 2 from July 2020, thanks to which the bank would meet all three Pillars of Basel II earlier than regulations. Therefore, Vietcombank was the sixth bank to complete all three pillars of Basel II soon, along with Vietnam International Commercial Joint Stock Bank (VIB), Vietnam Maritime Joint Stock Commercial Bank (MSB), Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), Tien Phong Commercial Joint Stock Bank (TPBank), and Southeast Asia Commercial Joint Stock Bank (SeABank).
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3. International finance News
Breaking down the executive actions Trump signed on coronavirus relief
(CNN) With stimulus talks stalled, President Donald Trump announced he would go around Congress to deliver aid to Americans affected by the pandemic.
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