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Vietnam Daily Market Recap Dec 28

Daily Market Recap 28/12/2020    209

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Dear Valued Clients,

We would like to send you our Daily Market Recap for today

Market Commentary: The VN-INDEX rose 0.6% despite mid-session sell-off

The VN-INDEX maintained the positive sentiment to gain 6.9pts, supported by many large caps. After the opening bell, the VN-INDEX began the session in the green and gradually rose to its intraday high of 1,096.1pts (+1.1%). Notably, GVR from the Industrial sector became the largest supporter, jumping 4.6% to VND30,450 and alone contributing 1.5pts to the index’s gain. Market pillars from the Utilities and other sectors also joined the rally, including GAS (+4.6%), PLX (+3.2%), BID (+1.8%), HPG (+2.0%), and POW (+6.9%). In the afternoon session, the VN-INDEX tumbled to its intraday low of 1,084.0pts (-0.04%) as investors were concerned about the new case of Covid-19 in Vietnam. Top laggards today included CTG (-1.2%), VNM (-0.3%), SAB (-0.5%), BCM (-1.3%), and MWG (-1.0%). However, as most large caps traded in the green, the VN-INDEX quickly recovered and rose 0.6% to close at 1,091.3pts at the end of the session. The HNX-INDEX also jumped 2.1% to land at 196.6pts.

Energy (+3.6%), Utilities (+2.9%), and Materials (+1.2%) rose, while Consumer Discretionary (-0.4%), Consumer Staples (-0.1%), and Health Care (-0.1%) lost ground today. Top index movers included GVR (+4.6%), GAS (+3.2%), BID (+1.8%), HPG (+2.0%), and PLX (+3.2%). Top index laggards consisted of CTG (-1.2%), VNM (-0.3%), SAB (-0.5%), BCM (-1.3%), and MWG (-1.0%). Top three major put-through transactions were MSN with 3.6m shares (VND300.7bn), EIB with 10.5m shares (VND205.2bn), and GEX with 5m shares (VND114.4bn).

Foreigners net sold on HOSE to the amount of VND430.8bn, and also net sold on HNX to the amount of VND25.4bn. They mainly bought FUEVFVND (VND111.0bn), VRE (VND68.9bn), and HPG (VND64.1bn); and mainly sold HPG (VND148.9bn), VRE (VND128.8bn), and MBB (VND67.2bn).

Market News

Oil steadies with virus pessimism balanced by U.S. stimulus

Oil steadied — after posting its first weekly loss since October — as pessimism over a new strain of Covid-19 that’s threatening more travel restrictions was balanced by the passage of a U.S. stimulus bill into law. Futures in New York traded near US$48/barrel after sliding 1.8% last week. Tougher restrictions were extended to much of England to try and stem the virus mutation, while American officials warned of a post-Christmas surge of infections. Japanese industrial production missed analyst expectations to come in unchanged last month from October, more evidence that the resurgent pandemic is stalling the economic recovery in some parts of Asia. Crude pared losses of as much as 1.5% after President Donald Trump signed the long-awaited bill containing US$900bn of virus relief that’s expected to boost energy demand in the world’s largest economy. Trump had previously expressed his displeasure with the package that Congress approved last week. (Bloomberg)

GSO leader hails 2020 as year of Vietnam’s success in inflation control

Director General of the General Statistics Office (GSO) Nguyen Thi Huong has stressed that 2020 is considered a year of success in inflation control. Speaking at a press conference organised by the GSO under the Ministry of Planning and Investment in Hanoi on December 27 to announce the country’s socio-economic results in Q4/20 and the whole year, Huong said the consumer price index (CPI) in December went up 0.1% mom and 0.19% yoy. The 2020 CPI rose by 3.23% from 2019 while basic inflation climbed by 2.31% annually. Explaining the price hike this year, Director of the GSO’s Price Statistics Department Do Thi Ngoc said due to high shopping demand during the Lunar New Year (Tet) Festival from January-February, food prices increased by 4.51% annually, bringing up the CPI by 0.17%. Pork prices also moved up the CPI by 1.94% due to unstable supply. Rainfall and floods in the central region during October-November also hiked prices of fresh, dried and processed vegetables. Other increases were also seen in the prices of medical supplies and education services. Meanwhile, falling prices in oil and gas, flight tickets and electricity due to the COVID-19 pandemic curbed the CPI rise. According to the GSO, basic inflation dropped from 3.25% in January to 0.99% in December, which proved the efficiency of the State Bank’s monetary policy this year. (Vietnamnet.vn)

Notable Corporate Events

Thien Long Group Corporation (TLG VN, HOSE) – Dividend Payment: TLG has set 03 Jan 2021 to be the record date for paying the second 2020 cash dividend of VND1,000/share. The payment will be made on 27 Jan 2021. (Ndh.vn)

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