Market reports

TVS Weekly NewsBrief - The Vietnam Streetwise - Wk.51.2017

25-12-2017 10:11:27

Market Watch ThaiBev’s completion of Sabeco auction drives market’s gain. The VnIndex regained 17.16 points (+1.83% over week ago) to end at 952.3 after two losing streak. The gain in part came after Thai Beverage (ThaiBev) completed a purchase of 53.59% stake at US$ 14.3 per share in an auction (No.1 Beer Maker in Privatization). Trading activities on HSX exchange surged with daily average USD 260.9mn (+22.1% owa). The foreign investors increased their participation and turned to net-buyer with USD 43.38mn. It was noted VanEck ETF fund sold a piece of portfolio, including VIC (+7.7% WTD) and VNM (+3.0% WTD), for year-end distribution. Which stocks are in focus? Sabeco (SAB), the 2nd largest loser, dropped 18.8% WTD following the ThaiBev’s completion of SAB’s acquisation. The market implication is that the minority shareholders made strong sale-off to avoid overpaying and the daily traders took profit.   Stock Ideas Binh Son Refining and Petrochemical Company Ltd (BSR) taking privatization. The multi-dollar refinery is going to privatization (Vietnam Giant Refinery Takes Privatization). Currently the business performance tied to oil price recovery. We are bias to oil price upside based on the fact: (i) stronger economy performance from key countries, especially US and China, (ii) OPEC and Russia deal extending oil ouput cut to end 2018.

2016 Sector Review-Brokerage Securities-Earning Hit Hard by Proprietary Trading segment

08-02-2017 10:50:04

Top Line grows, but Bottom Line depresses. The sector saw strong revenue growth of 37.33% YoY in 2016 to record VND 13,132bn but only posted VND 2,741bn in earning    (-3.51% YoY). The depressed earning implied the cost escalation to run low-margin and high-risk business segments, such as basic brokerage services and margin lending. Furthermore, the 4Q2106 restructure cost in proprietary trading segment hits earning hard, especially SSI and AGR. 

The year – end remittance story

10-12-2014 18:40:00

Positive signs of recovery. When it comes to the end of every year, remittance from more than 5 million expatriates and 0.5 million workers in more than 103 countries around the world started pouring into Vietnam...

MARKET TREND: 3Q GDP, 2014. STOCKS DOWN THE MOST

01-10-2014 09:50:10

After 8 consecutive declining sessions, VNIndex had the very first rally on 25, Sep, 2014. Although one bright day did not mean that downward momentum was over, but it was a signal that market sentiment was turning positively and bottom fishing activities could be more aggressive in the future ...

MARKET TREND: IPO AND UPCOM MARKET BUOYANT

24-09-2014 18:00:00

Decision No. 51/2014 / QD-TTg signed by Prime Minister on Sep 15th 2014 requires all equitised companies (post IPO) to register on the Upcom (Unlisted public companies market) within 3 months and to list on the HOSE/HNX within 1 year once they meet the listing conditions, effective from Nov 1st 2014 ...

MARKET TREND: WHERE ARE WE IN THE STOCK MARKET CYCLE?

12-09-2014 16:43:37

After the unexpected drop of 13 points in 09/09/2014, VNIndex showed slow recovery with modest gains amid slight volatility. Was the recent stock market correction simply just a dip within an ongoing uptrend or ...

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