FIDES(VIETNAM) Market Statistics 05/09 – 09/09/2022

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	-2.63%	596.56	645.06	(37.28)
VN30	-2.39%	160.31	224.00	(16.41)
HNX	-4.96%	79.15	67.26	2.98
Upcom	-2.41%	49.49	37.28	(3.16)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

ECB made the largest rate hike in 23 years

• The European Central Bank (ECB) raised interest rates by 75bps, the largest amount since the early days of Europe’s currency union, moving aggressively to combat EU record inflation of 9.1% yoy.

Moody’s raises Vietnam’s credit rating

• Credit rating agency Moody’s Investors Service upgraded Vietnam’s long-term national credit rating from Ba3 to Ba2, with a ‘Stable’ outlook. The rating reflects the assessment of Vietnam’s growing economic strength and resilience to external macro shocks are better than other countries with the same credit rating.
• In the context of world crisis, more than 30 credit downgrades in 8M2022, Vietnam is the only country in the Asia-Pacific region and one of four countries worldwide, upgraded by Moody.

IMF revises up Viet Nam’s GDP growth forecast to 7% in 2022

• The International Monetary Fund (IMF) has raised its economic growth forecast for Vietnam in 2022 from 6% to 7%. Meanwhile, the IMF lowered the projection for 2023 from 7% to 6.7%, but that still contrasts with dimming prospects elsewhere and would be the fastest pace among Asia’s major economies.

16% of economic recovery package disbursed in 8 months 2022

• About $2.41 bn from Vietnam’s post-pandemic stimulus package of $15.22 bn has been disbursed over 8 months 2022. This spending included more than $437.9 mn as preferential loans from Social Policy Bank, with $132.4 mn having reached some 4.54 million laborers nationwide as rental assistance. Besides, $0.59 mn was provided as loans with an incentive interest rate of 2%.

Macro: 8 months 2022

• CPI: The Consumer Price Index (CPI) in Aug 2022 increased by 2.89% yoy and 0.005% mom. On average, in 8M2022, the CPI increased by 2.58% yoy and core inflation increased by 1.64% yoy.
• Export – Import: In Aug 2022, exports of $33.38 bn (+22.13% yoy) and imports of $30.96 bn (+12.42% yoy) resulted in a trade surplus of $2.42 bn. 8M2022, exports of $250.8 bn (+17.33% yoy) and imports of $246.84 bn (+13.61% yoy) resulted in a trade surplus of $3.96 bn.
• Retail sales: In Aug 2022, retail sales ($20.92 bn) increased by 50.2% yoy, driven by retail sales of goods (+31.9% yoy), accommodation, food & beverage (+185.3% yoy) and tourism services (+65.3x yoy). 8M2022, retail sales ($159.97 bn) increased by 19.3% yoy. (Source: GSO)
• PMI (The Purchasing Managers’ Index) reached 52.7 in August, up from 51.2 in July and signalling a solid improvement in the health of the manufacturing sector midway through the third quarter of the year. Business conditions have strengthened for 11 consecutive months.

Company- Sector

The number of Newly Opened Domestic Individual Accounts in September 2022

• There were 152,398 retail accounts opened in September 2022 (+26.6% yoy and -22.13% mom). (Source: VSD)

FTSE review Q3/2022

• FTSE Vietnam Index will remove KDH and SBT from the basket and there is no inclusion to the index. The changes will be applied after the close of business on Friday, 16 September 2022 and will be effective on Monday, 19 September 2022.

Odd-lot trading

• Odd-lot trading on HoSE will be applied from 12 Sep 2022. (Source: HSX)

Banking sector

• Credit growth as of 26 Aug 2022 is 9.91% ytd, almost used up the amount that the State Bank of Vietnam (SBV) gave to banks in the early 2022. The allocation of 4% remaining credit quota has been delivered to commercial banks. (Source: SBV)

Energy sector

• Vietnam Electricity (EVN) has been accepted as the investor of the 1.19 billion USD O Mon III thermal power plant in Can Tho city with a capacity of 1,050 MW.
• The construction is expected to kick off in Q1/2025. It is expected to receive gas in Q3/2027 and join the national power grid in Q4/2027. (Source: EVN)

Tourism sector

• In 8 months 2022, Vietnam has welcomed more than 1.44 million international arrivals (+13.7x yoy) thanks to the reopening to foreign tourists and the resumption of international air routes, but down 87.3% compared to the same period in 2019 before COVID-19 broke out. Vietnam targets welcoming 5 million international arrivals in 2022
• Asian tourists accounted for 69.18% of international arrivals at 997,000. Notably, the number of South Korean tourists, the biggest group, was 17.61 times higher than the same period last year. (Source: GSO)

HPG (Hoa Phat Group JSC)

• In Aug 2022, construction steel sales volume reached 386,000 tons (+44% yoy and +3.6% mom) due to low-base effect because of intensive lockdown in Aug 2021. HRC volume reached 233,000 tons (-14.8% yoy and +56% mom). Sheet and steel pipe volume were good at 28,000 tonnes (-7.2% yoy and +57.3% mom) and 64,000 tonnes (+61.8% yoy and +5.5% mom), respectively.
• 8M2022: construction steel sales volume reached 3.1 million tons (+27% yoy), of which: the export of construction steel reached 990,000 tons (+82% yoy). HRC reached 1.8 million tons (+3% yoy). In addition, HPG sold 491,000 tons of steel pipes and 226,000 tons of galvanized steel, increasing by 5-7% yoy. (Source: HPG)

VGC (Viglacera Corporation – JSC)

• 8M2022, revenue of $236.8 mn and PBT of $45.5 mn (exceeded 17% target year 20220). (Source: VGC)

TNG (TNG Investment and Trading JSC)

• In Aug 2022, revenue of $30.26 mn (+ 20% yoy) and 8M2022, revenue of $203.91 mn (+32% yoy, completed 78% target year 2022). (Source: TNG)

HVN (Vietnam Airlines JSC)

• Ho Chi Minh Stock Exchange (HoSE) warned about the possibility of a forced delisting of HVN due to the company’s negative equity that is caused by its loss-making business. 1H2022 financial statement recorded an accumulated loss of $1.2 bn, exceeding its $962 mn charter capital. (Source: HSX)

POW (PetroVietnam Power Corp.)

• POW approved the plan of contributing 30% of the charter capital of LNG Quang Ninh Gas Power JSC. Other investors are COLAVI, Tokyo Gas Co., Ltd, and Marubeni Corporation.
• The Quang Ninh LNG power plant is the first power plant project using imported LNG in the northern region with an expected capacity of 1,500 MW. When put into operation (Q3/2027), the project will provide the national grid with about 9 billion kWh electricity/year. (Source: POW)

BCM (Investment and Industrial Development Corporation)

• BCM called $8.4mn corporate bonds issued in 2020 and expected to mature in 2025, cutting down BCM’s outstanding corporate bonds from $75.9mn to $67.5mn.
• Underlying reasons for the calling of bonds: (1) increasingly stricter regulation on corporate bonds issuance; (2) BCM’s outstanding corporate bonds is mainly applying floating rates, which is generating higher interest payment amid the raising interest rate. (Source: BCM)

HSG (Hoa Sen Group)

• Stock dividend (fiscal year 2020-2021): 20%
• Ex-date: 14 Sep 2022

VSC (Vietnam Container Shipping JSC)

• Canh Dong Xanh JSC (related to a BoD member) registered to sell all 1.1 million VSC shares via order matching or put through from 12 Sep to 11 Oct 2022. (Source: HSX)

NLG (Nam Long Investment Corp.)

• Mr Pham Dinh Huy (Investment Director) registered to sell 1.6 million NLG shares (0.42% OS) from 5 Sep to 4 Oct 2022. After the transaction, he will hold 41,500 shares. (Source: HSX)

KHG (Khai Hoan Land Group JSC)

• Mr Nguyen Khai Hoan (Chairman) bought 3 million KHG shares from 2 Aug to 30 Aug 2022, increasing his ownership from 30.61% to 45.97% (203.7 million shares). (Source: HSX)

LHG (Long Hau Corporation)

• LHG was removed from the margin lending list due to failure to submit the 2022 semi-annual audit report on time. (Source: HSX)