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VCSC Daily - Market down slightly on concerns of T+3 supply despite more deposit rate cuts

Market down slightly on concerns of T+3 supply despite more rate cuts. The market was down slightly as investors again showed hesitation from Monday’s big rally (and the T+3 settlement on Thursday) despite more signs of lower interest rates to come. This morning BIDV, the second largest bank by assets, lowered its deposit rates to as low as 6%/pa following a similar move by Vietcombank on Monday.