Market reports

TVS Weekly NewsBrief - HPG\'s 4M Business Performance

25-05-2020 17:19:04

HPG is the leading construction steel manufacturer in Vietnam with a 31.3% market share as of 4M2020. In their 2020 business plan, HPG revenue is expected to reach VND 85,000 – 95,000 bn (+33 – 48% yoy) while profit should reach VND 9,000 – 10,000 bn (+20 – 33% yoy). We believe both these targets are achievable.

TVS Weekly NewsBrief - Wk20.2020

18-05-2020 11:05:58

The State Bank of Vietnam (SBV) cut policy rate by 50bps in response to Covid-19. In particular, the discount rate and refinance rate stay at 4.5% (down from 5%) and 3% (down from 3.5%) respectively. In our opinion, the rate cut provides more liquidity and low-cost fund to bank system.  However, the impact will be small as 1) borrowing from the central bank source accounts for very only 0.2%-0.5% of total banks’ liabilities and 2) most banks, especially on small private banks, mobilizing deposits on 6-month above to avoid deposit rates cap by SBV.

TVS Weekly NewsBrief - Wk23.2019

11-06-2019 15:09:29

What’s on deck in economics? May 2019 PMI ticked down despite of expansion stage. The headline Vietnam Manufacturing PMI posted 52.0 in May, down marginally from 52.5 in April but still representing an improvement in business conditions - a reading above 50 indicates expansion in the sector; below 50 indicates contraction. Both output and new orders increase when securing of new customer and increasing of export orders at solid pace, according Nikkei report. The report added that Business confidence improved for the third month running to the highest since last November. Optimism regarding output growth reflected expected increases in new orders and new product launches. Market Watch Vietnam stock market experienced high volatility to end flat week. The Vietnam stock market bounced back by Friday, after dip 1.4% in Monday to end flat week. The Vnindex lost 1.6 points, or 0.32%, to close 958. Most local investors chose “wait-and-see” approach when weighting on trade war risk and oil volatility. Trading activity saw a dip with USD 134mn traded daily on HSX exchange, 6.5% down from last week. The HSX Exchange reported USD 5.2mn net-sold by foreign investors on the market.

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