FIDES (VIETNAM) Market Statistics 11/09 – 15/09/2023

FIDES (VIETNAM) Market Statistics 11/09 – 15/09/2023

Market Summary
ChangeTrading VolumeTrading ValueForeign net buy/sell
(%)Average daily trading volume (mil.shares)Average daily trading value (mil.USD)Net trading value (mil.USD)
HSX-1.14%1,099.181,090.79(87.72)
VN30-0.83%318.78427.04(77.74)
HNX-1.34%117.55101.020.48
Upcom-1.01%75.5445.811.23

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

Foreign Top buy/sell (HOSE + HNX, mil.USD)

Source: Fiinpro

News

Economy – Society

Trade balance

  • Aug 2023, exports of $32.76bn (+9% yoy) and imports of $29.32bn (+8.6% yoy), resulting in a trade surplus of $3.44bn. 8M2023, exports of $228.17bn (-9.8% yoy) and imports of $208.27bn (-15.9% yoy). (Source: Custom)

Remittances

  • According to SBV, 8M2023 remittances to Vietnam are estimated to reach $10.126 bn (+28% yoy). (Source: SBV)

FDI

  • Taiwan-invested Inventec Technology Vietnam was granted an investment registration certificate on 13 Sep for a $125 million project in Hanoi. Inventec will produce and export smartphones, servers, computer accessories, electronic circuit boards, traffic cameras, wireless headphones, wireless speakers, audio systems and other products. Areas: 16.1 hectare. Location: Nam Hanoi Industrial Park (phase 1). Capacity: 32 mn products. It is scheduled to begin operations 36 months after getting the certificate. (Source: Inventec Technology Vietnam)

Company – Sectors

Banking sector

  • The government has ordered the SBV to urgently review and adjust the risk weights for different real estate segments and regulations related to investment in corporate bonds. Previously on April 2023, the SBV proposed to reduce the credit risk weight applied to social housing project loans from 25-100% to 12-50% and to reduce the credit risk weight for industrial real estate project financing to 160% from the general level of 200% for all real estate projects. (Source: SBV)
  • Agribank and VCB cut their deposit rates for 6M-9M terms by 20bps and 3M-6M, 12M by 30bps.

Oil and Gas sector

  • Vietnam Government approved US Murphy Oil to run development plan at Lac Da Vang field (LDV). A field development plan is the step prior to the final project being sanctioned, which is expected later this year. Lac Da Vang is located in Block 15-1/05 of the Cuu Long Basin in the Southeast continental shell of Vietnam. Murphy Oil estimates LDV’s resources are 80-100 million barrels of oil equivalent gross, and that output could reach 30,000-40,000 barrels a day net. Murphy Oil holds a 40% working interest as the operator of Block 15-1/05, Petrovietnam Exploration Production Corporation holds 35% and SK Earthon owns 25%. (Source: US Murphy Oil)
  • Oil prices surged significantly (+8% YTM) in the context that major oil producing countries are likely to maintain tight supply. On 31/08/2023, Russian Deputy Prime Minister Alexander Novak said that the government and OPEC+ had agreed to reduce crude oil exports, the announcement will be officially published soon.
  • On 13/09/2023, PVN issued a resolution to expedite the process of the Block B – O Mon project. According to the resolution, due to the crucial role of the project in national energy security, PVN agreed to partially grant the EPC contract to contractors (PVS, McDermott) and start the construction of the project on time without the Final Investment Decision (FID), which could be secured by a side agreement between PVN and other related parties. This resolution demonstrated the extreme effort of PVN and the Vietnamese government to kick off the Block B as soon as possible to ensure the first gas in 2026.

Fertilizers sector

  • On 08/09/2023, a 7 magnitude earthquake struck central Morocco. Nearby are 3/4 of Morocco’s phosphate mines. Morocco is the world’s largest producer of DAP and phosphoric acid fertilizers. If these mines are closed/suspended for a long time, there will be a huge supply reduction on a global scale. (Source: Bloomberg)
  • Russian companies have ceased offering fertilizer to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year. The move by Russian companies could increase India’s import costs and subsidy burden amid a rally in global prices. (Source: Reuters)

Brokerage

  • According to VSD, domestic investors opened 188,298 new accounts in Aug 2023 (+25% mom). This is the highest level since the beginning of 2023. As of the end of Aug 2023, the total number of domestic investor accounts exceeded 7.6 million accounts, equivalent to nearly 8% of the population. (Source: VSD)

Industrial Park

  • On 09/09/2023, VSIP Group officially launched the Vinh Thanh Industrial Park project – VSIP Can Tho in Vinh Trinh Commune, Vinh Thanh District, Can Tho City. Total areas: 900 ha (phase 1: 293.7 ha). Capex: $3.5bn. (Source: VSIP)

ICT sector

  • Apple launched the new series iPhone 15. iPhone 15 Pro and iPhone 15 Pro Max will be available in Vietnam from Friday, 29 Sep, only 1 week after the Tier-1 countries. This will discourage Apple fans from buying hand-carried goods from other countries and push iPhone sales in the authorized distributors in Vietnam, including FRT, MWG and DGW. Apple accounts for FRT 45-50% revenues, MWG 14% revenues and DGW 20% revenues.

Automobiles

  • Aug-2023, car sales reached 22,540 (-9% mom, -27% yoy), including 17,335 passenger cars (-10% mom), 5,036 commercial cars (-5% mom) and 169 special-purpose vehicles (+14% mom). 8M2023, total car sales reached 184,554 (-30% yoy). The decrease in car sales in Aug was attributed to the July lunar month, discouraging car buying decisions. (Source: VAMA)

Steel sector

  • The Ministry of Industry and Trade and the US Department of Commerce (DOC) have extended the time to issue preliminary conclusions on the anti-dumping investigation case on steel shelf products imported from Vietnam. The preliminary conclusion is extended to 21/11/2023 (instead of 02/10/2023). (Source: DOC)

HVN (Vietnam Airlines Joint Stock Company)

  • On 11/09/2023, Vietnam Airlines signed an initial agreement buying 50 Boeing 737 Max aircraft worth up to $10 bn.
  • This deal is one of HVN’s plan to replace old aircraft that are more than a decade old. (Source: HVN)

DGW (Digiworld CORP)

  • DGW expected to start distributing new mobile phone brands such as ZTE and other low-end brands at the end of 3Q2023. DGW stated that Vietnam is gradually shutting off 2G signals in stages until completely cut off at the end of 2024. Consumers will switch to use low-end smartphones, thereby promoting sales of ZTE mobile phones and Xiaomi mobile phone models in this segment. (Source: DGW)

VPB (Vietnam Prosperity Joint Stock Commercial Bank)

  • On 10/09/2023, VPBank and the US International Development Finance Corporation (DFC) inked a commitment letter on a bilateral loan worth $300 mn with a seven-year tenor. The loan arranged by DFC aims at improving small- and medium-sized enterprises’ (SMEs) access to finance, especially women-owned, women-led, and climate-focused SMEs in Vietnam. (Source: VPB)

KBC (Kinh Bac City Development Holding Corporation)

  • Kinh Bac shared that the final approval decision for Trang Due 3 Industrial Park will be issued at the end of Sep 2023. Accordingly, KBC expected to start leasing land at this project at the end of 2023 and early 2024.
  • Currently, about 200 ha of land (out of a total of 687 ha) in Trang Due 3 have been cleared. (Source: KBC)

FPT (FPT Corporation)

  • FPT planned to invest $100 mn into the U.S. market by the end of this year, suggesting that U.S. government invest in training 30,000 to 50,000 semiconductor experts to Vietnam and provide FPT with funds for training semiconductor and AI engineers. In addition, FPT also announced its comprehensive strategic partnership with Landing AI, a computer vision platform and AI software company in the Silicon Valley, to boost AI adoption at FPT Education.
  • FPT also planed to supply 25 million chips globally in 2024 and 2025. (Source: FPT)

VIC (Vingroup Joint Stock Company)

  • According to Reuters, Vinfast will invest $1.2 bn in Indonesia. Of which, $200 mn will be used to build a factory with an output of 30,000 – 50,000 vehicles/ year. This could be the third factory of Vinfast after Vietnam and USA.

VJC (Vietjet Aviation Joint Stock Company)

  • Vietjet and Carlyle Aviation Partners, the US-based leading aviation finance and asset management company, signed an aircraft finance agreement worth $550mn. Carlyle Aviation Partners will finance the 737 Max aircraft from the order of 200 aircraft between Vietjet and Boeing. (Nguồn: VJC)

CTR (Viettel Construction Joint Stock Corporation)

  • CTR announced Aug 2023 revenue of $41.77 mn (+17% yoy) and PBT of $2.4 mn (+7% yoy). 8M2023 revenue of $291.2 mn (+20% yoy) and PTB of $16.8 mn (+19% yoy).
  • In term of revenue breakdown, operation segment contributed $153 mn (+10.1% yoy), construction segment contributed $80.2 mn (+21.6% yoy), integrated solution segment contributed $39.7 mn (+64.3% yoy). (Source: CTR)

POW (PetroVietnam Power Corporation)

  • 8M2023 sales volume of 10.2 billion kWh (+12% yoy) and revenue of $822.3 mn (+8% yoy). (Source: POW)
  • VCSC expected that the sales volume came from the Ca Mau 1 & 2 gas-fired power plants (+67% yoy) and the Vung Ang coal-fired power plant (+29% yoy) were higher, and outweighed lower volume from the Nhon Trach 1 and Nhon Trach 2 gas-fired power plants as well as the Hua Na and Dakdrinh hydropower plants.

AGG (An Gia Real Estate Investment and Development Corporation)

  • On 14/09/2023, AGG signed a mou with Koterasu Partners Pte. Ltd (Japan) that Koterasu will buy secondary shares of An Gia with a total value of $9.7 mn.
  • As a strategic shareholder of AGG, Koterasu will be able to choose to directly contribute capital to The Gio project in Binh Duong, expected to open for sale in 2024.

VGC (Viglacera Corporation JSC)

  • On 11/09/2023, VGC inaugurated the Sacmi Contimua sintered stone production line at Viglacera Eurotile factory with an area of 27.8ha, total investment of $49.8 mn and total capacity of 2mn m2/year.

VDS (Viet Dragon Securities Corporation)

  • On 13/09/2023, VDS and Ryobi Group (Japan) signed a MOU to expand strategic cooperation in investing and asset management. Ryobi Group currently provides services in transportation, tourism, information technology, urban development… in Vietnam. (Source: VDS)

HSG (Hoa Sen Group JSC)

  • Mr. Nguyen Van Chien, related to chairman, registered to sell 10.72mn shares via matching and put through from 14 Sep to 13 Oct 2023. Post transaction, he will hold no HSG shares.
  • Dragon Capital sold 780,000 shares on 7 Sep 2023, cutting their ownership to 9.9737% (equivalent to 61,436,291 shares). (Source: HSX)

GAS (PetroVietnam Gas Joint Stock Corporation)

  • GAS will issue 383 mn shares to pay stock dividend with ratio of 20%. Post-issuance, GAS’s charter capital will raise from $788.9 mn to $946.7 mn. (Source: GAS)

PNJ (Phu Nhuan Jewelry Joint Stock Company)

  • PNJ announced the issuance of 6.56 million ESOP shares at VND 20,000/ share. Implementation time: 3Q – 4Q2023.
  • Lock-up: 100% in first year, 70% in second year, 40% in third year. (Source: PNJ)

NLG (Nam Long Investment Corporation)

  • Dragon Capital sold 300,000 shares on 11 Sep 2023, cutting their ownership to 8.9525% (equivalent to 34,384,928 shares). (Source: HSX)