24/02/2020 - 09:10

Weekly Market Wrap — Feb 24, 2020

Yuanta Vietnam Weekly Market Round-Up-Feb 24

The market was broadly flat during the week ending Feb 21, with the VNI in a closing range of 928-938. Average turnover of the three main indexes rose by 3% WoW, with ADT peaking on Friday at US$161m. Breadth was roughly even on the VNI, with 188 gainers and 167 losers. Our sense is that the post-Tet shock has eased, but only slightly. Given the epidemiological uncertainties surrounding the coronavirus, restarting infrastructure projects could help to mitigate its negative economic effects.

Weekly Index Performance

· VNINDEX: 933 (-0.5% WoW / -2.9% YTD / -5.5% YoY)

· HNINDEX: 108 (-1.5% WoW / +5.4% MoM / +1.9% YoY)

· UPCOM Index: 56 (-0.3% WoW / -0.5% MoM / +1.4% YoY)

· Average daily turnover: US$141 mn (+3% WoW)

· Foreigners net sold US$39.8 million of VNIndex constituents.

· VND:USD rate: 23,246 (flat WoW, -31bps YTD, -16bps YoY)