Research Center

The VN-INDEX surpassed its historical peak to close at 1,215.77 pts (+2.0% mom and +10.1% vs. end of 2020, respectively) on 26/04/2021.  Average trading value on 3 exchanges in April hit record highs, reaching approximately US$1bn/session thanks to strong cash…

Fubon FTSE Vietnam Index ETF, which tracks FTSE Vietnam 30 Index, has finished the IPO phase with a fund size of about VND4,279bn. Fubon FTSE Vietnam Index ETF will buy the underlying shares in the next two weeks to list…

ETF VFM VNDiamond has turned into the largest local ETF in terms of NAV and ranked 2nd position in the list of ETFs invested in Vietnam. We estimate ACB, VIB, MSB, EIB and TCM are likely to be new diamonds,…

Manufacturing sector expanded further with Feb PMI climbing to 51.6pts. Total export-import turnover reached US$95.8bn (+25.5% yoy) in the first two months of 2021 despite the shortage of empty containers in Asia. Inflationary pressure bounced back with CPI rising 0.7%…

Gross retail sales of consumer goods and services rose 3.6% mom (+6.4% yoy) in Jan 2021. Vietnam’s headline inflation declined 1.0% yoy in Jan 2021. Jan exports rose an estimated 50.5% yoy to US$27.7bn, the highest growth seen in the…

As at 2 Feb 2021, 750 listed companies on three bourses, representing 82% of market capitalisation, have released 4Q20 results. 4Q20 aggregate earnings turned positive with 15.6% yoy, much better than several declines of 26.2%/12.5%/2.3% yoy seen in 1Q/2Q/3Q20. Please…

We update the market scenarios when the VN-Index is approaching its historic peak of 1,200 points. In our base scenario, we estimate the reasonable range of VN-Index to be 1,180 – 1,230 points. In our best-case scenario, the VN-Index can…

The Ho Chi Minh Stock Exchange (HOSE) will conduct a periodic review of the HOSE-Index, including the VN30 Index, to change portfolios this month. It is expected to publish a new index basket on 18 Jan 2021, which will come…

Reiterate Hold at a higher TP of VND13,400, on a downward revision in risk free rate from 4% to 3% and roll forward of DCF valuation to 2021. We expect the VN-Index to reach 1,180 pts within 2021 based on…

FTSE ETF (FTSE VN Index) and V.N.M ETF (MVIS VN Index) will conduct 4Q20 review and announce their portfolio review on 4 Dec and 11 Dec 2020, respectively. SHB is likely to be added in MVIS Vietnam Index while FTSE…