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FTSE upgrade prospect High potentialities in the next year

World oil prices are surging, WTI oil of the US are being traded close to the 2-month highs

Construction steel consumption reached 1-month highs

PMI & IIP showed contrasting movements

Azeri oil & MFO start up (BSR) - Improving business performance expected for 2020

VHC remains on track to meet its earnings guidance for 2019 as input prices for materials are expected to remain low for the last months of the year.

Leading real estate developer in Vietnam

State Bank of Vietnam (SBV) tightens rules on state-owned commercial banks but relaxes prudential ratios for private-sector commercial banks

The Index of Industrial Production (IIP) in October rose to 9.2% YoY, slightly decreasing compared to the data in September, mainly due to the plunge in coke and refined oil production. However, PMI has been in a downtrend in three consecutive months, which led this index down to 50 points – the lowest in the last four years. This will be a worrisome factor to the processing and manufacturing sector during the year-end period as the growth rate of new order number will turn down sharply. Inflation also needs to be closely watched in the last two months as pork price moves are unpredictable. It is most likely that there would be a trade deficit in November and December as companies will import a large volume of manufacturing and consumer goods for year-end production activities and preparation for Lunar New Year. Liquidity in the banking system in the last two months may be not abundant as the Circular No.58/2019/TT-BTC will affect the deposit sources of the State Treasury at commer

Vietnam’s 3Q GDP figures show more evidence of the SBV’s successful sterilization – with inflation in check, the VND stable, and exports remaining robust – and provides ample policy room for 4Q and into 2020E. Implications for our 4Q outlook include: 1) GDP growth to remain healthy at 6.9%-7.0%, albeit at a slower pace than 2017-2018 amid the ongoing US-China trade war; 2) CPI to moderate further to 2.49% and average 2.6% for all of 2019 (with core inflation manageable at 1.9% YoY); 3) money supply and credit growth of 13% and 14%, respectively, to keep the USD/VND exchange rate stable at VND23,350 by year-end and keep depreciation mild at 0.5%-1.0% YTD. Processing and manufacturing should continue to drive solid GDP growth as recovery of mobile phone manufacturing keeps export growth positive in 4Q. Falling trade demand from ongoing trade tensions between the US and China will likely slow 4Q GDP growth to 6.9%-7.0% and below 2017-2018 levels. Inflation has already fallen to the lowe