FIDES (VIETNAM) Market Statistics 22/05 – 26/05/2023

FIDES (VIETNAM) Market Statistics 22/05 – 26/05/2023

Market Summary
	Change	Trading Volume	Trading Value	Foreign net buy/sell
	(%)	Average daily trading volume (mil.shares)	Average daily trading value (mil.USD)	Net trading value (mil.USD)
HSX	-0.31%	696.1	521.7	(100.13)
VN30	-0.75%	161.65	174.77	(53.39)
HNX	1.74%	93.52	63.34	1.53
Upcom	-0.62%	58.86	29.6	(1.29)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

Interest rate

SBV lowered policy rates by 50bps, effective from 25 May 2023:
- Refinancing rate from 5.5% to 5%.
- Discount rate unchanged at 3.5%.
- Overnight overdraft rate from 6% to 5.5%
- Deposit rate cap for less than 6m from 5.5% to 5.0%. Less than 1m remains at 0.5%/year.

Moody’s – maintains Vietnam’s rating at Ba2, outlook stable.

The stable outlook reflects a balance of risks with expectation of improvements in economic strength and fiscal fundamentals that illustrate gains in policy effectiveness and a further integration with global value chains, drive upward credit pressures.
However, downward pressures may arise from external uncertainties related to slowing global growth and risks in Vietnam’s financial system that may impair its economic potential.

FDI

Xiamen Hithium Energy Storage Technology (China’s leading Lithium batteries manufacturer) intends to invest in Hai Duong province, Vietnam. Xiamen has factories in the US, Germany, India, Australia and Singapore specializing in lithium-ion battery core material.
Adani Group (India) wants to invest in Vietnam with total investment of $10 bn, focusing on seaports & logistics, energies, and digital technologies. In which, Adani Group plans to build a seaport ecosystem and invest in wind & solar power plants in Vietnam with a total capital of $3 bn.
Insider (Singapore) received an additional investment of $105 mn and intended to use the capital to carry out M&A deals in Vietnam.

Company- Sectors

Banking sector

As of 24 May 2023, credit growth of 2.72% ytd and deposit growth of 2.1% ytd.
The SBV issued Direction 02 pushing banks to cut lending rate, disburse the outstanding supporting packages and apply the circular 02 on loans restructuring and keeping loan group.

Steel sector

Formosa Ha Tinh Steel Corporation cut their selling price of HRC products to $585/ton for Jun/Jul shipment orders, vs. $610/tonne they announced one week ago. This is due to the sharp fall in China market, which is currently traded at $540/tonne in China.
Meanwhile, the domestic demand of steel products in May, such as construction steel, remained at low level for the first two weeks.

PNJ (Phu Nhuan Jewellery JSC)

In Apr 2023, revenue of $95.1 mn (-18.3% yoy) and PAT of $4.72 mn (-23.4% yoy) due to high base in Apr 2022 and weaker demand for jewelry amidst economic headwinds.
4M2023, revenue of $513.15 mn (-6.6% yoy) and PAT of $36.55 mn (-0.7% yoy). Retail revenue (58% total revenue) decreased by 5.7% yoy, wholesales revenue (9.2% total revenue) decreased by 23.3% yoy and 24K gold revenue (31.2% total revenue) increased by 2.4% yoy.
At end-Apr 2023, PNJ had 355 gold stores, 7 standalone silver stores, 3 CAO Fine stores (PNJ’s luxury jewelry brand), 5 Style by PNJ stores, 3 PNJ Watch stores and 3 PNJ Art stores. (Source: PNJ)

TCM (Thanh Cong Textile Garment Investment Trading JSC)

In Apr 2023, revenue of $10.6 mn (-38% yoy) and PAT of $1.5 mn (+81% yoy). The increase in TCM’s net profit is attributed to its financial income.
4M2023, revenue of $47.3 mn (-27% yoy) and PAT of $3.8 mn (-4% yoy). The value of orders that TCM received reached 80% and 65% Q2 and Q3/2023 target revenues, respectively.

HBC (Hoa Binh Construction Group Joint Stock Company)

HBC and Thai-Holding investor officially signed the contract of general contractor for the construction of the Social Housing project at 3 Lac Vien General Warehouse (Hai Phong city). The total value of this contract is more than $127.6 mn. It is expected that the project will be put into operation after 24 months from the date of commencement.

NTC (Nam Tan Uyen Joint Stock Company)

Binh Duong Province People’s Committee just issued a decision allowing NTC to lease land for developing the Nam Tan Uyen industrial park Expansion Project (344ha). (Source: NTC)

TPB (Tien Phong Commercial Joint Stock Bank)

SBV approved TPB to pay 39% stock dividend (2022). Charter capital will increase to $936 mn from near $681 mn. (Source: TPB)

MIG (Military Insurance Company)

MIG approved to pay 5% cash dividend and 5% stock dividend (2022) in Q2 or Q3/2023 after SSC approval. (Source: MIG)

SHB (Saigon Hanoi Commercial Joint Stock Bank)

SHB completed the transfer of 50% stakes of SHB Finance to Ayudhya (Krungsri) Public Bank (Thailand). The remaining 50% OS will be transferred in the next 3 years. (Source: SHB)

ACB (Asia Commercial Joint Stock Bank)

The SBV approved for Dragon Capital to divest from ACB, valid for 3 months from 10 May 2023. As of 3 Feb 2023, Dragon Capital’s holding in ACB was 6.92%. (Source: ACB)

GEX (GELEX Group JSC)

GEX Investment Ltd. Co. (related to CEO) successfully sold 33 million GEX shares via put through from 18 May to 22 May 2023. Post-transaction, GEX Investment’s ownership decreases to 0%. (Source: HSX)

STG (South Logistics Joint Stock Company)

On 19 May 2023, PSA Cargo Solutions Vietnam Investment Pte. Ltd. (Singapore) bought 24.5 million STG shares via put-through method with a total value of $55.3 mn. Post-transaction, PSA Cargo holds 24.9% OS and becomes a major shareholder.
Most likely, the seller is Indo Tran Shipping & Forwarding JSC (STG’s parent company). Previously, Indo Tran registered to sell 29.48 million STG shares from 19 May to 16 Jun 2023 via order matching or put-through or public offering. (Source: HSX)

QNS (Quang Ngai Sugar Joint Stock Company)

Mr. Vo Thanh Dang (CEO) registered to buy 1 million QNS shares via order matching/put through from 25 May to 23 Jun 2023, increasing his ownership from 7.74% to 8.02% (28,615,048 shares).
Previously, Mr. Dang bought 700,800 shares out of 1 million QNS shares registered from 24 Apr to 17 May 2023. (Source: HSX)

PDR (Phat Dat Real Estate Development JSC)

Bui Quang Anh Vu (CEO) sold 18.76 million PDR shares (2.79% OS) via order matching from 22 May to 25 May 2023, decreasing his ownership from 3.16% to 0.37% (2,463,920 shares). (Source: HSX).