6PM Call: Unusual Transactions in the ATC Session - Update on HBC
Most stocks in the VNIndex (774.03, -0.42%) was relatively quiet, except speculative stocks whose price fluctuated from ceiling (FIT) to floor (FLC, HAR, and HAI). Meanwhile, many stocks used to be considered as having good fundamental (such as DQC, SKG, VNS, and NT2) hit their 52-week bottom. For NT2 (VND26,200, -1%), the downtrend is partially because total output in 7M2017 only reached 2,667 million kWh (-15% YoY) in the backdrop of 40% increase in gas price and unfavorable CGM price in H1 2017. Simultaneously, the major repair conducted from the beginning of September this year would have certain impact on its business activities. Moreover, due to the effect from weaken USD while VND is pegged to USD, VND has depreciated by 5.6% against EUR since 30th June, implying a VND118 billion exchange rate loss from NT2’s EUR denominated debt.
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