1. Financial market News

VN-Index edges up, attention back on mid-caps

The VN-Index added 0.02 percent to 888.97 points Friday, with the majority of trading volume focused on non-blue chip stocks. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 196 tickers rising and 197 falling. Total trading volume halved over the previous session to VND5.5 trillion ($237.84 million), but was still higher than last month’s daily average of VND5 trillion. The VN30-Index for the market’s 30 largest caps slid 0.04 percent, with 17 tickers losing and 10 gaining. The basket accounted for 42 percent of total trading volume, with the rest going towards other big- and mid- caps on the HoSE. Various securities firms have observed that cash flow had been flowing towards stocks outside the VN30 basket in the past four weeks, contrary to the vast majority of the time when these blue chips took up over 50 percent of trading volume each session.

Detailed information here.

2. Banking news

Bank service revenue to grow next year

Despite a slowdown this year, bancassurance and payment fees are expected to rise and help banks’ service revenue increase in 2021.

According to Viet Dragon Securities Company (VDSC), service revenue growth at listed banks slowed significantly in the first half of 2020, to only 9.9 per cent from 42.1 per cent in the same period last year.

Most listed banks reported a low service fee growth of below 10 per cent in the period, except Techcombank and VPBank which maintained a high growth of more than 40 per cent thanks to their diversified service fee structure.

Detailed information here.

3. International finance News

A no-deal Brexit would be more costly for the UK than coronavirus, Goldman says

The blow to the U.K. of failing to reach a trade deal with the European Union would be more costly than dealing with the coronavirus, Goldman Sachs economists have warned.

Detailed information here.

TCNH