Daily Call

Market wrap: Both bourses drop lower as traded volume remains weak

Macro wrap: Update on Vietnam FDI in June

Equity wrap: HPG VN: Strong growth target for 2020 amid the Covid-19 outbreak

                   VNM VN (Outperform; TP VND 135,000): Positive Q2 results undeterred by Covid-19: Maintained Outperform rating

Market wrap: VN-Index tumbles further as foreign net sell returns

Macro wrap: Update on interest expense cap on related party transaction

Equity wrap: BMP VN: AGM notes: The drop in raw materials price can further help to boost earnings in the coming months

Market wrap: VN-Index drops below 860 level as trading volume remains weak

Macro wrap: Update on 5G development in Vietnam

Equity wrap: HCM VN: AGM Note: Switching to new business model

Market wrap: Heavy sell-offs press both bourses to tumble in the red

Macro wrap: Update on MSCI 2020 Annual Market Classification

Equity wrap: PVS VN (Outperform; TP VND 15,300): Resilient Q2 earnings despite impact of Covid-19: Original 2020 plan still achievable  

                   MWG VN (BUY; TP VND 115,000): Recovery in May financials, thanks to a longer hot season in Southern Vietnam and improvement in BHX GPM

Market wrap: Both bourses trade mix amid traded liquidity remains weak

Macro wrap: Update on Vietnam power sector

Equity wrap: TCB VN (Outperform; TP VND 24,400): Conservative earnings target, with efforts to diversify its customer base – Upgrade to Outperform Post AGM

                        VEA VN (Market Perform; TP VND 48,300): Proposing a 52.52% cash dividend

Market wrap: VN-Index returns to near 870 level as traded liquidity recovers

Macro wrap: Update on Vietnam foreign trade

Equity wrap: HOSE Indexes 3Q 2020 review estimates

                  NKG VN (Market Perform; TP VND 8,700): AGM notes: Optimistic earnings target for 2020

Market wrap: Stocks trade mix near the end of ETFs' rebalancing week

Macro wrap: MSCI annual classification review 2020

Equity wrap: NT2 VN (Market Perform; TP VND: 23,600): Change in PPA price likely less than VND40/kwh, per management guidance

                       POW VN (Outperform; TP VND: 12,900): FY20 Led by Vung Ang coal-fired plant following with a new gas price for the Ca Mau plant

Market wrap: Stocks mix trading sends both bourses into the red

Macro wrap: Update on Enterprise Laws

Equity wrap: FPT VN (Outperform; TP VND 55,900): A Double-Digit Growth Rate in Store for 2020

Market wrap: The rise of blue-chips leads both bourses’ recovery

Macro wrap: Update on foreign ownership limit

Equity wrap: ACB VN (Outperform; TP VND 28,300): HSX Listing Very Supportive To Valuation

Market wrap: VN-Index drops more than 31 pts while traded liquidity reaches record high

Macro wrap: Update on supporting measure to property market

Equity wrap: DGW VN: 1Q20 earnings results

Market wrap: Blue-chips' recovery eases VN-Index losing gap

Macro wrap: Update on annual state budget up to 5M20

Equity wrap: HT1 VN (Outperform; TP VND 15,600): AGM notes: Conservative targets for 2020

                       Vietnam ETFs 2Q20 rebalancing review

Market wrap: Stocks fell sharply as both bourses lost grounds

Macro wrap: Update on inflation

Equity wrap: PNJ VN (SELL; TP VND: 53,400): Pent-up demand fueled retail sales growth post-lockdown, yet expecting declining demand in 2H2020

Market wrap: VN-Index closes at 900 level mark as foreign net buy returns

Macro wrap:  Vietnam consumption in 1H20 and 2H20 outlook

Equity wrap: VTP VN (Outperform; TP VND: 160,000): AGM Flashnote: Strong growth plan despite COVID-19 situation 

Market wrap: VN-Index slips slightly into red on profit-locking

Macro wrap:  Update on the government meeting on Covid-19 pandemic

Equity wrap: VNM VN (Outperform): Update on JV establishment with Kido Group (KDC: HOSE, non- rated)

                       TCB VN (Market Perform; TP VND: 24,600): AGM plan

Market wrap: Majority of stocks surge as VN-Index edges closer to 890 level

Macro wrap:  Update on Agribank recapitalization

Equity wrap: MWG VN: AGM Note