Daily Call

Daily Call
SSI Daily Equity Market Call with Update on land-related laws and HAH

Market Wrap: The market pulled a late rally and was fully recovered from last Fri’s plunge

Macro Update: Update on land-related laws

Equity Research Update: HAH VN:  1Q earnings should be the bottom

28/05/2024

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SSI Daily Equity Market Call with Update on FDI inflows, Vietnam ETFs 2Q2024 review estimates, BSR and POW

Market 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

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SSI Daily Equity Market Call with Update on interest rate forecast, ACB and VCB

Market 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

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SSI Daily Equity Market Call with Update on power supply, HDG and BSR

Market 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

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SSI Daily Equity Market Call with Update on the exchange rate, FPT and TPB

Market 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

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SSI Daily Equity Market Call with Update on the gold auction, PNJ and TCB

Market 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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SSI Daily Equity Market Call with Update on the May National Assembly meeting, SAB, PLX, KBC, BCM

Market Wrap: Market edged up on robust liquidity, driven by Industrial Park realties and Exporters

Macro Update: Update on the May National Assembly meeting

Equity Research Update:

  • SAB VN (Market Perform; TP VND 65,400): Early signs of recovery
  • PLX VN (Market Perform; TP VND 40,800): Strong 1Q24 earnings growth in line with expectation
  • KBC VN (Market Perform; TP VND 34,400): Pile of cash amassed from R.E. deposits spells further investment in current projects
  • BCM VN (Outperform; TP VND 84,700): Quick update

20/05/2024

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SSI Daily Equity Market Call with Update on May inflation, monetary and fiscal policy, MSN, DRC, MSB

Market Wrap: The market stretched upward on flat liquidity and against strong foreign sells

Macro Update: Update on May inflation and government meeting on monetary and fiscal policy

Equity Research Update:

  • MSN VN (TP VND 84,800): Update on recent developments
  • Update on antidumping tax by the US on truck/bus tires from Thailand and DRC
  • MSB VN (Market Perform; TP VND 16,200): Higher provisions hinder earnings growth

17/05/2024

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SSI Daily Equity Market Call with Update on the Party’s central committee meeting, gold market, MSB and KDH

Market Wrap: Banks gained momentum and extended market rally

Macro Update: Update on the Party’s central committee meeting and gold market

Equity Research Update:

  • MSB VN: 1Q24 business results
  • KDH VN (Outperform; TP VND 41,300): Increasing investment in large projects to prepare for long term growth

16/05/2024

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SSI Daily Equity Market Call with Update on the May National Assembly meeting, gold market, Vietnam potential upgrade to market economy status and impacts on exporters, CTR, TNG, IDC

Market Wrap: Market pulled firm hike on encouraging liquidity

Macro Update: Update on the May National Assembly meeting and gold market

Equity Research Update:

  • Vietnam potential upgrade to market economy status and impacts on exporters
  • CTR VN (Market Perform; TP VND 133,200): 4M24 preliminary results
  • TNG VN (Outperform; TP VND 23,500): 1Q24 results updates
  • IDC VN (Market Perform; TP VND 62,300): MOUs value is the highest within 10 years

15/05/2024

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SSI Daily Equity Market Call with Update on FX and gold sales, MWG and BMP

Market Wrap: Market was supported on green territory despite weak sentiment

Macro Update: Update on FX and gold sales

Equity Research Update:

  • MWG VN (Outperform; TP VND 65,800): Analyst meeting
  • BMP VN (Market Perform; TP VND 122,000): High cash dividends

14/05/2024

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SSI Daily Equity Market Call with Update on the NASC meeting, trade data and KDH

Market Wrap: Market was well-supported despite profit-realization activities and aggressive foreign sells

Macro Update: Update on the NASC meeting and trade data

Equity Research Update: KDH VN: 1Q24 results: stayed low with some units recognized in The Classia project

13/05/2024

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SSI Daily Equity Market Call with Update on Investment Support Fund and VNM

Market Wrap: Market dodged correction on notably reduced liquidity

Macro Update: Update on draft decree proposal of the Investment Support Fund

Equity Research Update: VNM VN (Outperform; TP VND 82,000): AM Note

10/05/2024

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SSI Daily Equity Market Call With Update on progress to market economy, exchange rate, 1Q24 corporate earnings insights, VHC, FMC, CTR

Market Wrap: A session of volatile tug-of-war, profit-taking pressure evident

Macro Update: Update on the progress to market economy and exchange rate

Equity Research Update:

  • 1Q2024 Corporate Earnings Insights: Overcome the most difficult times
  • VHC VN (Market Perform; TP VND 78,500): prelim 1Q24 results
  • FMC VN (Outperform; TP VND 55,800): 1Q24 results
  • CTR VN (Market Perform; TP VND 133,200): Greater cash dividends might result in the significant change of capital structure

09/05/2024

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SSI Daily Equity Market Call With Update on FDI inflows, gold auction, HPG, PVT

Market Wrap: Market showed resilience on ample liquidity, sector divergence continued

Macro Update: Update on FDI inflows and gold auction

Equity Research Update:

  • HPG VN (BUY; TP VND 34,500): Impressive sales volume in Apr
  • PVT VN (Outperform; TP VND 30,000): 1Q2024 results and AGM update

08/05/2024

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