Daily Call

Market Wrap: Market lifted by unexpectedly strong rally, led by Tech and Financials

Macro Update: Update on the metro lines in Hanoi and HCMC

Equity Research Update:

•           ACB VN (BUY; TP VND 31,000): 4Q24 business results

•           TCB VN (BUY; TP VND 28,700): 4Q24 business results

•           VPB VN (Outperform; TP VND 23,400): 4Q24 business results

•           FMC VN (Outperform; TP VND 55,400): 4Q24 business results

Market Wrap: The market dipped on accelerated sells to close off positions before the long holidays

Macro Update: Update on tariff risk

Equity Research Update:

•           DPR VN (Outperform; TP VND 46,100): Natural rubber prices boosted profit growth in 4Q24

•           DXG VN: Earnings Call 4Q24

•           PNJ VN (BUY; TP VND 123,000): 4Q24 earnings return to growth

Market Wrap: The market rolled sideways on mild dips

Macro Update: Update on legal framework setting & money market movement

Equity Research Update:

•           DRC VN (Market Perform): 4Q24 earnings results

•           NT2 VN (Outperform; TP VND 24,700): 4Q24 earnings results

Market Wrap: Market closed flat on muted liquidity ahead of Tet and Trump’s inauguration

Macro Update: Update on trade data

Equity Research Update:

•           SCS VN (Outperform; TP VND 91,900): 4Q24 updates: Strong earnings as expected

•           VNDiamond, VN30, VNFIN Lead Indices 1Q25 Review Results and Update on Hose Index Rules Version 4.0

Market Wrap: The market saw an uptick due to improved sentiment

Macro Update: Update on the seaport planning

Equity Research Update: Update on the mandatory transfer plan of GPBank to VPBank

Market Wrap: Boosted by favorable global news, the local market closed on positive note

Macro Update: Update on Resolution 01/2025

Equity Research Update: Vietnam Steel sector 2025 Outlook: Domestic channel to be the key driver for earnings growth

Market Wrap: Construction and Construction Materials led gains, market recovered from yesterday’s dip

Macro Update: Update on the state budget

Equity Research Update: Vietnam aviation sector 2025 outlook: Back to growth after full recovery

Market Wrap: Market closed low on muted liquidity ahead of Tet

Macro Update: Update on the nuclear power plant

Equity Research Update: KBC VN (Outperform; TP VND 33,600): Trang Due 3 IP Investment in Principle Approval

Market Wrap: Rebound seen as indexes hit lower bands of consolidation range

Macro Update: Update on Resolution 57, exchange rate

Equity Research Update: Vietnam port and shipping sector 2025 outlook

Market Wrap: Market lost hopeful support level and closed the week on strong plunge

Macro Update: Update on 2024 Vietnam trade data & trade expectations for 2025

Equity Research Update: Vietnam Industrial Parks Sector 2025 Outlook: Supply improvement amidst demand slowdown in 2025

Market Wrap: The market dipped on low sentiment and extremely low liquidity

Macro Update: Update on Vietnam public debt

Equity Research Update: 4Q24 corporate earnings preview

Market Wrap: Market rebounded on muted turnover

Macro Update: Update on the monthly cabinet meeting

Equity Research Update: Vietnam Power Sector 2025 Outlook: Hydropower recovery will help reduce the power shortage risk

Market Wrap: Market closed flat in spite of upswing posed by Banks and IPs

Macro Update: Update on credit growth and de minimis rule

Equity Research Update: Vietnam Retail Sector 2025 Outlook: Maintaining robust growth

Market Wrap: Concerns over FX weighed down the market

Macro Update: GSO 2024 Macro Update

Equity Research Update: Vietnam Technology & Telecom Sector 2025 Outlook: Entering a new growth cycle

Market Wrap: Market slid over 1% on accelerated selling pressure from both locals and foreigners

Macro Update: Update on the exchange rate

Equity Research Update:

• VEA VN (BUY; TP VND 48,000): 2024 preliminary results
• NT2 VN (BUY; TP VND 24,700): 2024 preliminary results