6PM Call: Market Traded on the Back of Q2/2017 Earnings Announcements
​The VNIndex increased sharply to 780 pts in the beginning of the day. The rally became stronger in the afternoon session, which supported the index to move further. In the end, it closed at 782.65 pts. The HNXIndex continued to move ahead after it broke out 100 pts. At today close, it added 0.68 pt. Aside penny stocks, which have surged for 4 sessions; large-cap stocks led today gains of 0.61%.
Foreigners turned to net buyers in the HSX but to net sellers in the HNX. In the HSX, they net bought VND132 billion, focusing on VCB, VNM, and HPG. On the other hand, they net sold in the HNX for the second day in a row. The net selling value surged from VND4.7 billion to VND19.6 billion. They strongly sold VND20.2 billion worth of SHB’s shares. Foreign and local investors seemed to have a different view on SHB. The stock increased nearly 15% from VND7,400/share. At today closed price of VND8,500/share, SHB traded at PBR of 0.7x. The rally of SHB is possibly the result of rumor on impressive Q2/2017 earnings growth. However, foreigners might have a more conservative view on this bank as there is ambiguous information relating to Vinalines and Habubank NPLs.
Watching over SHB, fertilizer stocks and small & mid-cap oil & gas shares, we believe that the Q2 earnings are results affecting the market movement. Investors tended to react positively to the news instead of “buying the rumor and selling the newsâ€. The market will trade on the back of Q2/2017 earnings announcements. For the index level, we are concerning on the divergence between indices and liquidity. Our market analyst expresses his opinion in today Analyst’s Pinboard. For sector recommendation, we think steel, building material, utilities besides banking, logistics and consumer sectors. Investors can find details in our “July Investment Strategy Reportâ€.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.