6PM Call: APEC Effects Prevail - Update NVL
The APEC meeting week (November 6 to 11) has been the talk of the town in recent days. Although it has not directly influenced the stock market, the market sentiment seems to be partly supported by this event. Despite the decrease of ROS, the VNIndex still increased by 1.1% to 859.7 points, thanks to the rise of banking stocks and VIC(+6%). VIC has rallied nearly 50% in the last 3 months, partly thanks to the IPO of Vincom Retail (VRE). For 9M 2017, VIC recorded revenue of VND57,000 billion (+67%) and NPAT of VND2,108 billion (+23%), equivalent to 71% and 70% of their respective annual targets. At the end of the year, VIC will start to sell apartments in Vincity project, the company’s next step in the high-end segment.
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