Research Center

MSCI postpones upgrading the MSCI Kuwait Indexes to Emerging Markets until Nov 2020 due to COVID-19 pandemic. Vietnam has to wait until Nov 2020 to become the largest constituent in the MSCI Frontier Markets Index, instead of May. Please follow…

Cash-rich companies to be well-equipped to weather the crisis We advocate a “bottom-up” approach with a screening of 1,023 stocks on three bourses HOSE, HNX and UPCOM, excluding Banking, Insurance and Securities Please follow this link for the full report

Exchange-traded funds (ETFs) are shrinking presence in ASEAN markets amid fear over Covid-19. Foreign ETFs in Vietnam’s net asset value (NAV) experienced a sharp average decline of 29% YTD amid market turmoil Please follow this link for the full report

We now expect oil prices to average at US$45/bbl in 2020F (vs. US$62/bbl earlier), as a result of the crude oil price war and weak demand due to the Covid-19 outbreak. Potential losers from declining oil prices are upstream and…

Companies are undertaking buybacks to boost investor confidence amid price weakness. Below are some buybacks plan investors should be noted. Please follow this link for the full report

Global central banks coordinate to combat coronavirus fallout. Vietnam’s central bank took strong move to battle COVID-19 impact. The Vietnamese dong stays stable amid the chaos. Easing global financial conditions will not boost capital inflows into Vietnam in the short…

FTSE ETF (FTSE Vietnam Index) and V.N.M ETF (MVIS Vietnam index) will announce their results of portfolio review on 6 Mar and 13 Mar 2020, respectively. The ETFs, which are managing a combined US$649.8m in NAV, will carry out several…

ETF VFMVN DIAMOND will go IPO since 3 Mar 2020. Assuming that VFM will raise the capital of VFMVN Diamond ETF to VND1,000bn (~US$42.5m), below is our estimation on the value size of each components and required days to buy.…

nCoV outbreak update: Vietnam steps up vigilance. We think nCov pneumonia is a Black Swan event for the stock market. Please follow this link for the full report

We are cautiously optimistic on the equity market in 2020F as most of the concerns have been largely priced in. We expect an 18% growth in the listed universe’s FY20F earnings and the VN-Index to touch 1,160 points boosted by…