Daily Call

Market Wrap: Market sideways with holiday mood

Macro Update: Update on money market movement and trade data

Equity Research Update: Vietnam F&B sector 2025 outlook: Cautious sentiment limits growth

Market Wrap: Market slightly rebounded on ETF 4Q24 rebalancing day

Macro Update: Update on money market movement

Equity Research Update: Vietnam Textile and garment sector 2025 outlook: Acting on opportunities

Market Wrap: Local market followed global markets’ fearful responses on Fed’s hawkish stance for 2025

Macro Update: Update on the exchange rate, FX reserves and money market

Equity Research Update: CTR VN (Market Perform; TP VND 139,700): 11M24 Recap: Higher-than-expected number of new BTS sites in November

Market Wrap: Market picked up momentum in the final hour driven by mid-cap Energy, Husbandry and Steel stocks

Macro Update: Update on 3Q24 Vietnam Balance of Payments and exchange rate

Equity Research Update:

•           VGC VN (Outperform; TP VND 51,100): Expected strong growth in 4Q24 earnings

•           Block B - O Mon update

Market Wrap: Market rolled sideways as stocks diverged

Macro Update: Update on money market, government streamlining plan

Equity Research Update: VHM VN (Outperform; TP VND 47,400): Vingroup Cooperation Agreement amended, prompting VHM to launch their own development projects

Market Wrap: Market on stand-still mode despite resurgence of Consumer Discretionary and Staple stocks

Macro Update: Update on Vietnam’s semiconductor sector

Equity Research Update:

•           Marketvector Vietnam Index: 4Q2024 review results

•           PNJ VN (BUY; TP VND 117,000): November results

Market Wrap: The market extended its losing streak

Macro Update: Update on public investment and ISF decree

Equity Research Update: MCH VN: Maintaining robust double-digit net profit growth

Market Wrap: Market dipped slightly for 3 consecutive sessions on progressively shrinking liquidity

Macro Update: Update on the modification of Decree 155/2020

Equity Research Update: FRT VN: 3Q24 earnings: Impressive earnings despite aggressive new openings

Market Wrap: Market showed resilience on mild dipping

Macro Update: Update on Nov. trade data

Equity Research Update:

•           HSG VN (Market Perform; TP VND 20,000): Positive earnings outlook in 2025FY priced in

•           VTP VN: Viettel Logistic Park Lang Son Opening Ceremony – Key takeaways

Market Wrap: Market showed resilience on minute correction

Macro Update: Update on the NASC meeting and SBV’s circular proposal on debt restructuring for Yagi-impacted borrowers

Equity Research Update: PVD VN: New rig investment to support growth

Market Wrap: Market showed resilience with 3rd consecutive gaining session

Macro Update: Update on the monthly cabinet meeting

Equity Research Update:

•           FTSE Vietnam Index: 4Q 2024 review results

•           BSR VN (Market Perform; TP VND 22,000): Listing transfer to be supportive catalyst in the short term

Market Wrap: Market extended rally on lingering excitement of market upgrade potential

Macro Update: Update on Nov. macro data

Equity Research Update: PNJ VN (BUY; TP VND 117,000): Growth back in the driver’s seat in 4Q24

Market Wrap: Swift upturn led by Securities stocks attracted significant inflows

Macro Update: Update on Jan-Nov ‘24 Vietnam FDI

Equity Research Update:

•           Update on the Non-prefunding solution (NPS): 1-month review

•           VinFast Auto Ltd (NASDAQ: VFS): 3Q24 results update

Market Wrap: The VNIndex finally corrected after a 50pts gain

Macro Update: Update on the South-Korea Vietnam economic relation

Equity Research Update: Vietnam Electricity Sector Update: The amended Electricity Law got approved

Market Wrap: Market rolled sideways with flows focused on Tech, Healthcare and Insurance

Macro Update: Update on the money market

Equity Research Update:

•           Vietnam ETFs 4Q24 review estimates

•           CTD VN (Outperform; TP VND 77,100): Q1FY25 earnings: The new fiscal year has started off smoothly