1. Financial market News

Stock market continues cooling down

The VN-Index edged down 0.03 percent to 908.27 points Friday, with selling pressure coming mostly from non-blue chips. In its second straight losing session, the Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, again resembled a sea of red with 239 tickers losing and 162 gaining. Total trading volume abated slightly over the previous session, reaching VND6.28 trillion ($271.2 million), far higher than last month’s daily average of VND5 trillion. Over half of trades this session went to stocks outside the VN30, a basket for the HoSE’s 30 largest caps. Overall, the VN-Index ended the week nearly 8 points above its opening on Monday, in line with securities firms’ predictions that the stabilizing Covid-19 situation in the country would prop up market sentiment. Gains of 0.18 percent on the VN30-Index this session were not enough to offset losses on the general market. A total 16 stocks in the basket lost against 9 that gained, although none of the tickers fell by more than 1 percent.

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2. Banking news

3 banks to soon apply eKYC in operation

The digital transformation process of banks is being accelerated due to the increasing demand of users, not only in terms of utility but also in terms of security. From the beginning of the third quarter (Q3), some banks have piloted the opening of electronic Know-your-client (eKYC) accounts such as Vietnam Prosperity Commercial Joint Stock Bank (VPBank), Tien Phong Commercial Joint Stock Bank (TPBank), Viet Commercial Joint Stock Bank (VietCapitalBank), HCM City Development Commercial Joint Stock Bank (HDBank) and Military Commercial Joint Stock Bank (MB), and initial results show that the number of new registered accounts has increased significantly.

Detail information here.

3. International finance News

Here’s where things stand with the messy TikTok deal

A federal judge has asked the U.S. government whether it will delay an upcoming ban on the viral video-sharing app TikTok or defend its policy in court over the weekend.

Detail information here.