6PM Call: The Market Rebounded - Update on HTI, electricity
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The market rebounded today from its biggest sell-off on Monday. In spite of facing selling pressure during most of the time, both the VN-Index (769.36, +0.37%) and the HNX-Index (100.42, +0.05%) ended above their reference prices. Large-market caps including VNM (+0.9%), VIC (+2.4%), MBB (+2.2%), and VCB (+2.4%) were main supporters.Â
Electricity companies were among groups seeing the strongest inflows. Since the beginning of 2017, these stocks have had impressive performances as SHP, CHP and VSH increased by 21.6%, 47.1%, and 18.7% respectively (vs. the market’s average of 15.7%). For the electricity industry outlook, we hold the view that positive signals from the supply-demand condition will continue to support these stocks’ prices. The growth rate of electricity consumption was 8.5% in1H17, while the supply only increased by 3.9% during the same period. Investors can find more details in the Analyst Pin-board curriculum.
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