January 20, 2012
Horizon Securities
A Member of Horizon Capital Group
MARKET COMMENTARY
VN Index ended its winning streak on the last day of the Cat
year and headed toward the Dragon year with hopes and
eagerness. Liquidity improved on HOSE today thanks to a
sizeable put-through deal in VIC (US$14.4mln).
HOSE fell 0.12% to 373.00 on US$31.7mln of traded value, an
increase of 97% from yesterday. 142 stocks rose while 70
fell. Blue chips were led by PVF (ceiling), HAG (+3.1%), DPM
(+2.0%), VCB (+1.8%), HPG (+1.1%) and EIB (+0.7%). STB, FPT
and PVD were neutral while MSN (-1.9%), BVH (-1.0%), VIC
(-1.0%), SSI (-0.7%) and VNM (-0.6%) negatively impacted the
index. JVC remained the most liquid with US$1.8mln of traded
value, followed by SSI (US$872K). Highlighted put through
deals were VIC (US$14.4mln), KDC (US$1.3mln) and MBB
(US$1.0mln).
HNX was basically flat at 58.44 (+0.05%) on US$9.4mln of
traded value. 133 stocks advanced and 97 declined. Blue chips
were mostly higher with PVX (+2.9%), BVS (+2.0%), VCG
(+1.1%), PVS (+0.8%) and ACB (+0.5%) supporting the index.
VND (US$925K), KLS (US$735K) and PVX (US$599K) were the most
liquid names.
VN Index | 373.00 | Change | ||
Net change (point) | -0.43 | Total trading volume (x000 shares) | 29,580 | 28.52% |
Percent change (%) | -0.12 | Total trading value (US$'000) | 31,658 | 97.11% |
Movers
Advancers | 142 |
Decliners | 70 |
Unchanged | 65 |
Top Gainers Top Losers Top Most Liquid (Order Matching)
Ticker Close Chg Chg Ticker Close Chg Chg Ticker Close Volume Value
VND VND % VND VND % VND shares US$
CMT 8,400 400 5.00 LGC 17,200 -900 -4.97 JVC 17,800 2,290,180 1,820,765
NVT 2,100 100 5.00 TMT 5,900 -300 -4.84 SSI 14,300 1,266,230 872,297
PTC 4,200 200 5.00 AVF 10,000 -500 -4.76 VCB 23,100 682,000 752,345
ATA 8,500 400 4.94 PTB 12,000 -600 -4.76 HAG 19,800 576,680 545,263
SPM 42,700 2,000 4.91 PTL 4,000 -200 -4.76 STB 18,000 631,940 545,072
HA NOI EXCHANGESHNX Index
Net change (point) Percent change (%)
58.44
0.03
0.05
Change
UPCoM Index 33.89
Net change (point) -0.03
Percent change (%) -0.09
11:17 AM
Volume (x000 shares) 25,070
Value (US$'000) 9,418
Movers
14.02%
21.29%
Volume (share)
Value (US$)
35,500
15,980
Advancers | 133 |
Decliners | 97 |
Unchanged | 163 |
Top Gainers Top Losers Top Most Liquid (Order Matching)
Ticker Close Chg Chg Ticker Close Chg Chg Ticker Close Volume Value
VND VND % VND VND % VND shares US$
SDD 3,400 200 7.00 L35 4,000 -300 -6.98 VND 6,800 2,800,000 924,839
KTS 36,700 2,400 7.00 DNY 15,300 -1,100 -6.95 KLS 8,800 1,739,800 734,878
KHB 4,900 300 6.89 HCT 9,400 -700 -6.93 PVX 7,000 1,776,400 599,335
SAP 4,700 300 6.82 CTC 7,100 -500 -6.72 PGS 18,700 488,800 431,828
DNP 18,500 1,200 6.81 ONE 5,600 -400 -6.67 BVS 9,900 783,900 379,362
NEWS SUMMARYIndustrial News
January CPI up 0.96% m-o-m in Hanoi - According to Hanoi Statistic Office, January CPI increased 0.96% m-o-m in
Hanoi, a rise of 16.24% y-o-y. (Hanoi Statistic Office).
Bank M&A will boom in Vietnam in 2012, said HSBC's CEO - After the merger of three banks in last December, merger and acquisition (M&A) among banks in Vietnam will become very active this year, according to Mr. Sumit Dutta, CEO of
HSBC Vietnam. However, Sumit Dutta pointed out four major
challenges that would block M&A activities in the
country's
banking sector. Firstly, the country has a number of
newly-established small banks. When it comes to merger with
other big lenders, major shareholders of small banks will be
at disadvantaged and thus they will try to avoid or postpone
the merger.
Secondly, restructuring the banking system does not simply
involve bank M&A but also how to improve the health and
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soundness of large banks. Thirdly, financial statements and reports of local commercial banks are not transparent, making it difficult for the State Bank of Vietnam (SBV) to diagnose precisely the health of each credit institution to devise appropriate measures. Fourthly, small banks have recently become larger in scale as compared to several years ago. As a result, merger between among banks might not be easy as it used to. (Dau tu)
SOEs restructuring plan to be approved within January 2012 - Vietnam Government on January 17 issued Directive No.03, which specified that the plan to reorganize, restructure and equitize state-owned enterprises (SOEs) will be approved within January, 2012. According to the overall restructuring plan, the government will privatize 573 out of 1,309 state-owned
enterprises (SOEs), including 1 economic group, 56
corporations, 1 commercial bank, 187 subsidiaries, 89
enterprises
directly under ministries, and 239 enterprises under local
authorities. After equitization, the government will hold
controlling shares at 392 enterprises. In addition, the
government will shut down, liquidate 13 firms and restructure
another 31 SOEs through merger and acquisition. The remaining
692 SOEs will be re-organized into 44 corporations with 150
subsidiaries. (Dan tri)
Vietnam to need over 15mln new jobs by 2020 - Vietnam's population is predicted to reach over 96.2 million in 2020, with more 63 million in working age, or 9.5 million higher than the current figure. At present, 1.3 million Vietnamese are unemployed, while more than 4.5 million others are seeking part-time jobs. With 9.5 million workers entering the workforce in
the next ten years, Vietnam will have to create a total of
15.3 million new jobs, according to the International
Labour
Organisation (ILO). Vietnam is building a labour and
employment strategy for the 2011-2020 period, with the aim of
raising the number of skilled workers to 70% by 2020. The
country is expected to generate about 1.6 million jobs each
year and increase the number of workers in the
non-agricultural sectors by 4% - 5% annually. (Vneconomy)
VND1.5trln (US$71.8mln) for building Saigon 2 bridge - HCM City People's Committee has recently approved the Saigon
2 bridge project near the Saigon 1 bridge to improve the traffic capacity in the city's northeast gateway, contributing to the socio-economic development. Accordingly, the project with total estimated investment of about VND1.5trln (US$71.8mln) will be invested by HCM City Infrastructure Investment JSC(CII) under the BT (Build-Transfer) method. (Saigon Times)
Corporate News
DPR reported net profits of VND846.64bln (US$40.5mln) in 2011 - Dong Phu Rubber JSC (DPR) reported its business result in 2011 with revenues of VND1,823bln (US$87.2mln) and net profits of VND846.64bln (US$40.5mln), rising by 77.28%
y-o-y and 114.91% y-o-y. DPR closed at its ceiling price of VND49,300(US$2.36).
BBC reported net profits of VND46.8bln (US$2.2mln) in 2011 - Bibica Corporation (BBC) reported its business result in
2011 with revenues of VND1trln (US$47.8mln) and net profits of VND46.8bln (US$2.2mln), up by 27% y-o-y and 11.9% y-o- y, respectively. BBC was unchanged at VND11,700 (US$0.56).
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