Daily Call
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Market Wrap: Market inched upward on boom of Ports/Logistics and Rubber sectors
Macro Update: Update on Government meeting
Equity Research Update: FTSE Vietnam Index: 2Q 2024 review results
10/06/2024
DownloadMarket Wrap: Ports and Logistics stocks soared as VN-Index edged up +0.31%
Macro Update: Update on MSCI 2024 market classification
Equity Research Update:
- QNS VN (Market Perform; TP VND 56,700): High cash dividend
- DCM VN (Market Perform; TP VND 38,700): Earnings to rebound on reduced depreciation
07/06/2024
DownloadMarket Wrap: The VN-Index bent on intensified foreign sells towards closing, unable to breakthrough 18-month high
Macro Update: Update on the monthly cabinet meeting minutes
Equity Research Update:
- Updates on some steel protection measures
- CTG VN (Outperform; TP VND 38,500): Setting sail
06/06/2024
DownloadMarket Wrap: VN-Index continued to face pressure at 18-month high level
Macro Update: Update on public investment and gold market
Equity Research Update:
- GAS VN (Market Perform; TP VND 84,000): Significant cash dividend yield for 2023
- DPM VN (Market Perform; TP VND 35,200): Earnings recovery from last year’s low base
- VNM VN (Outperform; TP VND 82,000): 5M2024 Results
05/06/2024
DownloadMarket Wrap: The market struggled when facing strong resistant level
Macro Update: Update on MoF monthly recap meeting
Equity Research Update:
- ACV VN (Outperform; TP VND 136,000): A bright sky after the storm
- MSN VN (Outperform; TP VND 93,400): A new phase of growth
04/06/2024
DownloadMarket Wrap: The market rallied on eased exchange rate pressure and decelerated foreign sells
Macro Update: Update on monthly cabinet meeting and gold market
Equity Research Update: DPR VN: Rubber prices highest in two years
03/06/2024
Downloadarket Wrap: The market plunged on unsuccessful attempts to rebound
Macro Update: Update on gold, money market
Equity Research Update: QNS VN: 4M24 results
31/05/2024
DownloadMacro Update: Update on the May National Assembly
Equity Research Update:
- KBC VN: 2024 AGM documents
- NT2 VN (Market Perform; TP VND 23,000): 2024 AGM
- MSN VN (TP VND 84,800): Update on the divestment of MSR from H.C Stark
30/05/2024
DownloadMarket Wrap: The market plunged on intensified foreign sells throughout the day
Macro Update: Update on May macro data
Equity Research Update:
- GAS VN: AGM and 1Q24 update: Significant cash dividend yield for 2023
- ACB VN (Outperform; TP VND 36,000): An athlete for a long run
29/05/2024
DownloadMacro Update: Update on land-related laws
Equity Research Update: HAH VN: 1Q earnings should be the bottom
28/05/2024
DownloadMarket Wrap: The market ended on high note following last Fri's strong correction
Macro Update: Update on FDI inflows
Equity Research Update:
- Vietnam ETFs 2Q 2024 review estimates
- BSR VN (Market Perform; TP VND 23,000): Earnings likely bottom out during 2Q24
- POW VN (Outperform; TP VND 13,900): Lower utilization to weigh on 2024 earnings growth
27/05/2024
DownloadMarket Wrap: Market correction intensified amid heavy foreign pressure
Macro Update: Update on interest rate forecast
Equity Research Update:
- VCB VN (Outperform; TP VND 111,800): Resilient NIM
- ACB VN: 1Q24 business results
24/05/2024
DownloadMarket Wrap: Despite a gloomy morning, market unexpectedly took off with fabulous gains in the afternoon
Macro Update: Update on power supply
Equity Research Update:
- HDG VN (Outperform; TP VND 36,900): Real estate segment and lower interest expense to drive long-term earnings growth
- BSR VN: Earnings can bottom out in 2Q24
23/05/2024
DownloadMarket Wrap: The market corrected on sharper selling pressure
Macro Update: Update on the exchange rate
Equity Research Update:
- FPT VN (TP VND 128,100): 4M24 results
- TPB VN (Outperform; TP VND 22,700): Earnings to bounce back
22/05/2024
DownloadMarket Wrap: Depsite tremendous selling pressure, VNIndex pulled miraculous recovery at the end
Macro Update: Update on the gold auction, exchange rate and trade data
Equity Research Update:
- PNJ VN (Outperform; TP VND 112,000): April results
- TCB VN (Market Perform; TP VND 54,700): Earnings beat estimate with higher NIM
21/05/2024
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