Daily Call

Market wrap: Mid-day gains are pared by locking profit activities

Macro wrap:  Update on the government bond market

Equity wrap: PLX VN (BUY; TP VND 73,100): Encouraging earnings growth in 3Q19 driven by forex exchange gains

Market wrap: Vietnam equities tick higher on trade optimism

Macro wrap:  Update on monthly cabinet meeting

Equity wrap: TCB VN (Outperform; TP VND 26,900) 3Q19 review: Robust retail banking with strong mortgage loans expansion to replace C-bonds

Market wrap: Banking sector bolsters the winning streak 

Macro wrap:  Update on National Monetary Policy Fund

Equity wrap: AAA VN: Positive growth in 3Q19 coming from traditional business

Market wrap: Vingroup tickers spur for the broad-based rally

Macro wrap:  Update on the state budget

Equity wrap: VHM VN: Growth momentum maintained via bulk sales strategy

Market wrap: Stocks edge lower despite the FED rate cut

Macro wrap:  Update on interest rate

Equity wrap:

ACV VN: Q3 beats estimates; government divestment prospects remain uncertain

MSH VN (BUY; TP VND 66,900) Q3 Review: Earnings in line but valuation becomes attractive

Market wrap: Vietnam shares lag behind despite the trade deal progress

Macro wrap:  Update on Vietnam macro data for October

Equity wrap:

Update on VN30 rebalance

VEA VN: VEA flash earnings note: Lower than expected due to reported weaker JV performance 

Market wrap: Stocks fluctuate around 1,000 level

Macro wrap:  Update on Vietnam’s 3-year fiscal plan (2020-2022)

Equity wrap: VSC VN: 3Q19 review: Margin improvement thanks to better equipment

Market wrap: HCM gauge closes higher on the lead of banking and consumer stocks

Macro wrap:  Update on the banking sector – Deposits of the State Treasury of Vietnam

Equity wrap:

SAB VN (Market Perform; TP VND: 283,600) 3Q19 Review: Earnings beat expectations

PVS VN (Outperform; TP VND: 25,100) Q3 earnings dropped sharply along schedule from booking provisions

Market wrap: Stocks extend the recovery on the rise of banking and real estate sectors

Macro wrap:  Vietnam FDI in October

Equity wrap:

VCB VN: 3Q19 review: Sustained track of robust earnings growth

TPB VN (Outperform; TP VND 25,200) 3Q19 review: Credit hitting the growth cap (16.9% YTD); Clearing up all VAMC bonds

Market wrap: Blue-chips push HCM bourse higher at the closing

Macro wrap:  Update on public debt

Equity wrap:

ACB VN (Buy; TP VND 31,500): 3Q19 review: Steady loans growth (+16% YoY and 11% YTD); Provision expenses kept at low level

VHC VN: 3Q19 review: Q3 result was confirmed to be a disappointment.

Market wrap: Following global equities, Vietnam shares close higher

Macro wrap: Update on credit growth and property loan

Equity wrap:

DPM VN (Outperform; TP VND 15,500): 3Q19 review: worse than expected earnings

VPB VN (Outperform; TP VND 25,600): 3Q19 review: NIM expansion and NPLs well under control

KDC VN (Market Perform; TP VND 23,800): Strong Q3 growth from ice cream, recovering as expected

CTD VN (Sell; TP VND 102,000): 3Q19 review: worse than expected earnings

Market wrap: VN-index tumbles on the plunge of banking sector

Macro wrap: Update on National Assembly meeting

Equity wrap: Update on 3Q19 results of FPT, VIB, STB

Market wrap: Banking sector drifts away the midday gains on Friday

Macro wrap: Update on banking sector

Equity wrap: Update on PNJ 3Q19 prelim results

Market wrap: Local stocks decline on the maturity day of Oct future contracts

Macro wrap: Update on SOE reform and Vietnam sovereign ratings

Equity wrap: Update on PPC 3Q19 prelim results

Market wrap: Vietnam equities edge ahead of the earnings season

Macro wrap: Update on price review of petroleum products

Equity wrap: Update on PTB