1. Financial market News

VN-Index gains amid foreign investor sell-offs

The VN-Index climbed 0.49 percent to 878.98 points Friday in a session which saw the highest foreign investor net sell in the past month. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 225 tickers gain and 180 lose. Total trading volume rose 10 percent over the past session, reaching VND7.69 trillion ($334.37 million), marking one of the highest liquidity sessions this month. Analysts said the positive sentiment this session was partly a spill over effect from gains on U.S. indices, which represent the most influential stock markets in the world. The Dow Jones Industrial average rose 0.6 percent, and the S&P 500 climbed 0.2 percent Thursday. However, growth this session was hampered by selling pressure from foreign investors, with their net sell of VND1.23 trillion on HoSE being four times the average of net sell sessions in the past two weeks.

Detailed information here.

2. Banking news

VietinBank to issue VND3 trillion of bonds to the public

Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank, stock code on the HoSE: CTG) is preparing for the second public offering of bonds in 2020. The bank plans to issue 10 trillion dong of bonds at par value to the public. In which, the issuance value of the first phase was seven trillion dong, and the second phase issuance value will be three trillion dong. The bonds issued in the second phase include two types, one matures in 2028 and one matures in 2030. Each of the bond type is expected to be issued at a quantity of 15 million units and par value of 100,000 dong per bond, equivalent to a total par value of 1.5 trillion dong for each type.

Detailed information here.

3. International finance News

A new $20 billion bid for TikTok could see it purchased by rival Triller (and a giant investment firm)

Bloomberg is reporting that TikTok-rival Triller and Centricus (a London-based global investment firm) are the latest suitors looking to buy TikTok’s US business with a $20 billion bid, joining Oracle and a recently combined Microsoft / Walmart effort to acquire the popular short-form video application.

Detailed information here.