Smart Money Tracker, Oct 12: Foreign Investors Net Sell Seven Straight Sessions, PNJ Still Among Heavy Sellers

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• Banks begin sharp cuts to deposit rates across many terms on the afternoon of October 19

  The State Bank of Vietnam (SBV) asked credit institutions to cut deposit rates by at least 0.5% a year for terms of 6 months or longer, and lending rates by 1.5-2% a year for production, business and priority sectors, while avoiding competitive rate hikes. LPBank cut deposit rates across all terms from 1 to 36 months, with its online 12-month rate now at 6.7% a year and 48-60 month rates at 5.2%. VietBank lowered online rates by 0.5 percentage points for terms of 6 to 36 months, bringing its 6-8 month rate to 5.4% a year. The central bank warned that banks failing to cut rates may face a review of their remaining credit quotas this year, lower targets next year, or higher safety ratios.

  CafeF·19/10, 08:45▲ VNINDEX▲ ACB▲ BID▲ CTGinterest ratesState Bank of Vietnamsavings accounts
• Governor: 'Interest rates on existing loans should also be considered for cuts'

  Governor Phạm Đức Ấn has asked banks to prioritize rate cuts for production and business loans, applied selectively rather than across the board, and to consider applying them to existing loans. The average lending rate rose 0.2 percentage points to 10.7% in August, about 3 points higher than a year earlier, while legacy floating-rate loans for individuals reached 12-14%, and some car loans 16-17%. Banks were told to cut operating costs, share profits and reduce funding costs, including lowering deposit rates for terms of six months or more by at least 0.5%. Several banks, including BIDV, Vietcombank, Agribank and Sacombank, have announced preferential loan packages with rate reductions of up to 2 percentage points.

  VnExpress·19/10, 08:09▲ VNINDEX▼ ACB▼ BID▼ CTGinterest ratesState Bank of Vietnamcredit
• Agribank, Vietcombank, BIDV, MB, ACB, Sacombank, LPBank, VietBank, Nam A Bank Simultaneously Cut Lending Rates

  Following directives from the Government and the State Bank of Vietnam, several banks have simultaneously cut lending rates by 1.5–2 percentage points per year for priority loans and sectors. Agribank reduced rates by up to 2% per year from 19/10, setting aside about VND 2,000 billion, while BIDV launched a preferential program on 15/10 for short-term VND loans starting from 6% per year. Vietcombank has committed to cutting rates by at least 2% by year-end, while MB is cutting 1.5% per year for five priority sectors and may apply up to 2% in some cases. Sacombank will allocate VND 40,000 billion to corporate customers with a 2% rate cut, and ACB is cutting rates by 1.5–2% per year for businesses.

  CafeF·19/10, 06:53• ACB• BID• LPB• MBBinterest ratesbankscredit
• Agribank, Vietcombank, BIDV, ACB, Sacombank, LPBank, VietBank simultaneously cut lending rates

  Following directives from the Government and the State Bank of Vietnam, Agribank, Vietcombank, BIDV, ACB, LPBank and VietBank have simultaneously launched lending rate cut programmes, typically by 1.5-2 percentage points for priority sectors. Agribank will cut lending rates by up to 2% a year from October 19, with about VND 2,000 billion allocated, and continues a VND 70,000 billion preferential credit package. BIDV's preferential programme, starting October 15, 2026, offers loans from 6% a year on short-term VND lending across its system. Vietcombank has committed to cutting rates by at least 2% by year-end, while Sacombank will allocate VND 40,000 billion in preferential capital with a 2% reduction. VietBank is rolling out a VND 3,000 billion package with cuts of at least 1.5% a year until June 30, 2027.

  CafeF·19/10, 06:53• ACB• BID• LPB• STBinterest ratesbankscredit
• Outstanding credit as of October 14 tops 20.7 million billion dong; banks agree to cut lending rates after meeting with the State Bank on the morning of October 19

  As of October 14, 2026, outstanding credit to the economy reached 20,721,583 billion dong, up 11.44% from the end of last year and 16.73% year-on-year. On the morning of October 19, State Bank of Vietnam (SBV) Governor Phạm Đức Ấn met with chairs and CEOs of commercial banks, and the banks agreed to cut interest rates. Specifically, listed deposit rates for terms of 6 months or more will fall by at least 0.5%/year, while lending rates will drop by 1.5–2%/year, focusing on production, business and priority sectors. The backdrop includes Middle East conflict driving up oil prices, several major central banks raising rates and a stronger US dollar, all of which pressure Vietnam's monetary policy. The SBV also asks banks to channel credit into production and business while tightly controlling lending to risky sectors, including real estate.

  CafeF·19/10, 05:08▲ VNINDEX▲ ACB▲ BID▲ CTGinterest ratescreditbanks
• State Bank of Vietnam Requires Banks to Cut Savings Rates by at Least 0.5%

  The State Bank of Vietnam has instructed banks to cut savings deposit rates by at least 0.5% for terms of 6 months or longer, and lower lending rates for production, business and priority sectors by 1.5–2 percentage points, or face tighter credit growth quotas. In a document dated October 18, the regulator said listed top savings rates had climbed to 7.6–7.8% a year since late April, while preferential rates at many banks reach 8.5–9.5% a year. Non-compliant banks could see their remaining credit limits for the year reviewed, receive lower targets next year, or face higher safety ratios. Banks are also told to prioritize lending to production and innovation, tightly control high-risk credit, report asset quality honestly without hiding bad debt, and balance deposit mobilization with capital use.

  VnExpress·18/10, 10:33▲ VNINDEX▲ ACB▲ BID▲ CTGState Bank of Vietnaminterest ratessavings accounts

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• JPMorgan Chase is Delving Further Into National Security With $5 Billion Push

  JPMorgan Chase has invested more than $5 billion in companies supporting U.S. national security and industrial capacity, roughly half its planned decade-long budget in the program's first year. Co-President Doug Petno told CNBC the pace could lead the bank to expand its original $10 billion commitment. Two known recipients are Hadrian, where JPMorgan helped lead a $1.4 billion round, and Castelion, where it joined a round of about $1 billion; those figures are total round sizes, not JPMorgan's own contributions. The bank also says it has financed and facilitated more than $230 billion for industries covered by the initiative, a figure separate from its direct investments.

  Yahoo Finance·19/10, 22:27• JPM
• Eric Schmidt’s 1% Anthropic stake sets up massive windfall ahead of IPO -Bloomberg

  Former Google CEO Eric Schmidt holds about 1% of Anthropic after investing tens of millions of dollars in its Series A round, and is poised to reap one of the largest individual windfalls from the AI startup's upcoming IPO. According to PitchBook data cited by Bloomberg, Anthropic was valued at $461 million when Schmidt invested in 2021, while prospective public valuations of $1.8 trillion to $2 trillion would be more than 4,300 times that Series A baseline. At the upper end of that range, his stake could lift his net worth by roughly one-third to nearly $80 billion. Anthropic is expected to begin formal marketing for its IPO as early as the week of Nov. 9, and aims to match or surpass SpaceX's record $1.77 trillion IPO completed in June.

  Yahoo Finance·19/10, 22:26
• Bank of America Has Cut Its Share Count by Nearly a Third in 10 Years. $10,000 Invested Then Is Worth About $40,000 Now.

  Bank of America, with $3.4 trillion in total assets, is the second-largest U.S. financial services institution; it bought back $6 billion of stock in the third quarter and $19.2 billion so far in 2026. Its outstanding share count has fallen 32% over 10 years, contributing to a 122% rise in diluted EPS. A total return of 304% through Oct. 16 would have turned $10,000 into about $40,400, below the $42,800 that the overall stock market's 328% total return would have produced. The article notes the shares trade 19% below their peak, at a P/E of 12.5 versus a 10-year average of 13.1.

  Yahoo Finance·19/10, 22:20
• Coeur Mining (CDE) Stock Looks Undervalued Despite Recent Market Pressure

  Coeur Mining has posted a very large gain over three years, but its share price has pulled back sharply in recent months while gold and silver prices have been relatively steady. The article attributes the pressure to rising treasury yields and a planned merger that may reshape production and cost profiles. It states the shares, around US$15.33, trade on a P/E of 18.5x, close to the metals and mining industry average of 18.6x and the peer group's 19.9x, and that the Fair Ratio points to the current multiple as undervalued. The piece also outlines scenarios for the company's growth, margins and earnings that readers can compare with the current price.

  Yahoo Finance·19/10, 22:19• XAU/USD
• Did Foundry Win Just Shift Intel (INTC) Investment Narrative?

  Intel disclosed details of its GPU D-series for high-memory AI inference and Xeon-based racks for agentic AI workloads, and confirmed Tesla as a future 14A foundry customer, alongside deeper software distribution ties with Anaconda. The article argues the Tesla deal links Intel's heavy fab and packaging spending to concrete, workload-specific demand. Analyst consensus expects revenue to grow 16.5% a year over the next three years, with profit margin rising from -19.8% today to 24.2%, and earnings from a loss of US$11.3b to US$21.8b by 2029, though estimates range from US$8.8b to US$38.1b. The analyst target of US$116.37 sits close to the current price of about US$115.93. The piece stresses execution risk, as Intel Foundry is still loss-making and breakeven has been pushed out.

  Yahoo Finance·19/10, 22:15
• Trump faces bipartisan backlash over waiving Russia sanctions

  President Trump drew bipartisan criticism after waiving new Russia sanctions two days before they were due to take effect, through an executive order issued on Friday. The Graham Act, signed on Sept. 18, lets him waive the restrictions if he certifies to Congress that doing so serves US national interests. The waiver came a week after he eased sanctions on Russia's energy sector and announced a deal to import diesel: 300,000 tons, about 2.2 million barrels, against US daily use of 4.1 million barrels. Republican senators Thom Tillis and John Cornyn, Representative Don Bacon, and Democrat Gregory Meeks called the move irresponsible or a boost for Putin. Experts say the diesel deal will not offset oil supply disruptions from the Iran war.

  cbsnews.com·19/10, 22:15• XAU/USD