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FIDES (VIETNAM) Market Statistics 14/8 – 18/8/2023

FIDES (VIETNAM) Market Statistics 14/8 – 18/8/2023

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-4.40%1,119.381,044.08(61.54)
VN30-4.08%297.28405.77(17.78)
HNX-3.79%149.85112.03(5.95)
Upcom-4.30%89.7351.881.05

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy – Society

Macro:

  • On Aug-15, Central Bank of China (PBOC) cut their 1Y-lending rate to 2.5% (-15bps). Consequently, yuan currency and bond yields plummeted.
  • China’s General Statistics Office released Jul-2023 economic data, showing that the China is recovering slower than expected: Industrial products +3.7% yoy, retail sales +2.5% yoy, fixed asset investment +3.4% YTD, …
  • On Aug-17, China Evergrande Group filed for bankruptcy protection in the US. Most recently, China’s largest private real estate firm – Country Garden – warned that they were “considering many different debt settlement options”. This sparked speculation that the company was preparing to restructure debt due to difficulty in raising capital. (Source: Bloomberg)

Interest rate:

  • The SBV required banks to cut the lending rate by a further 1.5-2% p.a. for all outstanding loan and new disbursement. On the other hand, BID expects to cut deposit rates for terms >=1M by 30bps. (Source: SBV)

FDI

  • Foxconn, the world’s largest contract electronics maker, has injected $100mn into its Singapore unit FIT Singapore to add to a new production project in Vietnam. Foxconn is going to put this new investment into Fu Wing Interconnect Technology (Nghe An) Co. Ltd. as part of the manufacturing giant’s global supply chain diversification. (Source: Taiwan Stock Exchange)

Company – Sectors

Aviation

  • 7M2023, the total number of passengers carried by six Vietnamese airlines, including HVN, VJC, Bamboo Airways, Pacific Airlines, Vietravel Airlines and Vasco increased by 20.1% yoy. Of which, foreign passengers flying with the domestic carriers surged by 424.2% yoy while the number of domestic passengers went down slightly by 4.4% yoy.

Automobiles

  • July – 2023, car sales reached 24,687 units (+4% mom, -18% yoy), including 19,221 passenger cars (+10.9% mom), 5,318 commercial cars (-16.2% mom) and 148 special-purpose vehicles (+21.3% mom). 7M2023, total car sales reached 162,014 (-30.19% yoy). The slight increase in July-2023 total car sales followed the 50% cut in registration fee, which has come into effect since July – 2023. (Source: VAMA)

Tourism

  • The Vietnamese Government has decided to issue e-visas to all foreign arrivals at 42 ports of entry into Vietnam starting from August 15. The new e-visa issued to foreign arrivals through the electronic payment system would be valid for 90 days. The entry points include the 13 airports, 16 land entrances and 13 seaports. In addition, citizens from Germany, France, Italy, Spain, the UK, Russia, Japan, the Republic of Korea, Denmark, Sweden, Norway, Finland and Belarus could stay in Vietnam for 45 days instead of 15 days, regardless of passport type or purpose of entry. (Source: Government)

Brokerage

  • HoSE will hold a meeting on Aug-21 to discuss the implementation plan of KRX system. Participants included leaders of: SSC, VNX, VSDC, HNX, HoSE and securities companies, fund management companies.
  • The Chairwoman of SSC will visit Hong Kong at the end of August to meet with the rating agency to discuss the upgrade of Vietnam’s stock market from frontier to the emerging market. (Source: SSC)

Steel sector

  • Steel sales in July reached nearly 2.2 million tons (+9% yoy). In which, steel exports in July reached more than 703,000 tons (+40% yoy). HRC recorded a good selling growth with 637,546 tons (+11% mom and +75% yoy).
  • The US Department of Commerce (DOC) has issued a notice initiating a scope review investigation on steel wheels imported from Vietnam. The investigation reviews the steel wheels completed in Vietnam from components originating in China, which fall within the scope of the anti-dumping and countervailing duty orders that the US is applying to similar products from China. On the other hand, The European Commission (EC) has announced the launch of anti-dumping and anti-subsidy tax investigations into cold-rolled stainless-steel products imported from Vietnam, Taiwan and Türkiye. (Source: MoIT)

VPB (Vietnam Prosperity Joint Stock Commercial Bank)

  • The SBV approved the private placement of 1.2bn VPB shares to SMBC at VND30,159/share. Post transaction, SMBC will own 15% OS at VPB. Previously, VPB shared that they had received 10% down payment for the deal. (Source: VPB)

MWG (Mobile World Investment Corporation)

  • July revenues of $412.63mn (+3.97% mom and +11.4% yoy), of which: DMX& TGDD accounted for $282.11mn (flat mom and -21.2% yoy) and BHX made up $117.89mn (+10.67% mom and +16.67% yoy). According to MWG chairman, there is no significant improvement in 2H2023’s purchasing power as the macro environment is still gloomy. Otherwise, MWG expects that BHX can reach its break-even point at end 2023 and start to contribute profit to MWG in 2024. (Source: MWG)

FPT (FPT Corporation)

  • 7M2023: revenue of $1.19bn (+22.4% yoy) and PBT of $211.65 mn (+19.5% yoy), of which:
  • Technology segment: revenue of $706.4 mn (+26.4% yoy) and PBT of $99mn (+26.2% yoy). Of which: Global IT services contributed $522.94 mn revenues (+30% yoy) and $51.2 mn PBT (+31.6% yoy) thanks to the strong demand in the Japan market (+40% yoy) and APAC (+37.4% yoy). Signed revenue (new order volume) of the Global IT Services segment reached $697.1 mn (+21.3% yoy).
  • Telecom segment: revenue of $375.7 mn (+8.5% yoy) and PBT of $74.61mn (+6.2% yoy).
  • The education & other segments remained robust, with revenue growth of 62.9% yoy and PBT growth of 34.1% yoy. (Source: FPT)

CTR (Viettel Construction JSC) 

  • In July 2023: revenue of $42.21mn (+23% yoy) and PBT of $2.39mn (+18% yoy). 7M2023, revenue of $252.2mn (+20% yoy) and PBT of $14.54mn (+21% yoy), of which:
  • Telecom infrastructure operation made up $136.66mn (+12.35% yoy, accounting for 54% total revenues)
  • Construction accounted for $66.21mn (+19.4% yoy, accounting for 26% total revenues)
  • Integrated solutions posted $34.5mn (+67.11% yoy, accounting for 14% total revenues)
  • Telecom infrastructure leasing contributed $9.97mn (+42.14% yoy, accounting for 4% total revenues)
  • CTR owns 5,133 tower stations and tenancy rate remains at 1.03 at the end of July 2023. (Source: CTR)

BAF (BAF Viet Nam Agriculture JSC)

  • BAF announced a green syndicated loans with value of $21mn (secured by real estate), granted by HCM City Branch of Shinhan Bank Vietnam Ltd; HCM City Branch of First Commercial Bank; and HCM City Branch of Daegu Bank. Shinhan bank plays as the leading bank in the deal. Proceeds will be constructed in the Giai Xuan pig breeding farm in accordance with the 3F Farm model with total area of 52ha, capacity of 52,000 gilts and 60,000 pigs.  (Source: BAF)

VIC (Vingroup JSC)

Vinfast (VFS) officially listed in Nasdaq on Aug-15.

  • VFS’s market capitalization on the 1st trading session after IPO reached $85bn, being top 5 largest auto manufacturers and top 2 largest electric vehicle manufacturers. (Source: Bloomberg)

DCM (Petro Vietnam Ca Mau Fertilizer JSC)

  • Jul-2023 urea output of 83,810 tons (+2.2% mom); No NPK output. Urea consumption of 59,190 tons (+4.9% mom); NPK consumption of 1,020 tons (-98% mom).
  • 7M23: Urea consumption of 500,440 tons; NPK consumption of 56,660 tons, fulfilling 15.5% and 10% guidance, respectively. (Source: DCM)

VHC (Vinh Hoan Corporation)

  • VHC approved the issuance of 3.6 million ESOP shares at VND 10,000/share.
  • Lock-up: 5 years. Every 1 year, investors’ shares will be unlocked at 20%-40%-60%-80%-100%. Implementation time: 3Q23.
  • Jul-2023 revenue of $36.2mn (-28% yoy), the decrease in revenue was due to the revenue of the pangasius segment decreased by 17% yoy. (Source: VHC)

NVL (No Va Land Investment Group Corporation)

  • Nova Group registered to sell 43mn NVL shares via put through from Aug-18 to Sep-15 to cut their ownership to 20.95% OS, equivalent to 408.6 mn NVL shares. (Source: HSX).

VIB (Vietnam International Commercial Joint Stock Bank)

  • Ms. Nguyen Thi Bich Hanh (member of BoD) bought 25mn VIB shares via put through from 25 Jul 2023 to 16 Aug 2023, raising her ownership to 0.99% OS. (Source: HSX)

SGN (Saigon Ground Services JSC)

  • SSI Securities Corporation sold 2.35mn SGN shares, cutting their ownership to 10.06% (equivalent to 3,371,820 shares). (Source: HSX)

DHC (Dong Hai Ben Tre JSC)

  • Mr. Nguyen Thanh Nghia (member of BoD) registered to buy 1mn DHC shares from 22 Aug 2023 to 20 Sep 2023 via matching and/or put through. Post transaction, Mr. Nghia will raise his holding to 14.01% OS (equivalent to 11,279,919 shares).