Weekly Wrap — June 8, 2020

Weekly — June 8

The VNI briefly touched the propitious (in some investors’ eyes) intraday high of 888 on Thursday before closing out the week at the slightly lower but still fortuitous level of 886. Numerology is perhaps not an optimal investment strategy, but good fortune has certainly befallen the bottom feeders of late March, as the index has rallied 34% since then. VNI breadth mainboard remained strongly positive last week, with 243 gainers vs 109 losers, on ADT of US$278m, +66% higher than the YTD average.

Index, Flows, and FX Performance
 VNINDEX: 886 (+2.2% WoW / -7.8% YTD / -6.9% YoY)
 HNINDEX: 118 (+7.5% WoW / +15.2% YTD / +14.0% YoY)
 UPCOM Index: 56.4 (+2.5% WoW / -0.2% YTD / +3.5% YoY)
 Average daily turnover: US$242mn (+15% WoW)
 Foreigners net sold US$13.5 million of the 3 index constituents.
 VND:USD rate: 23,260 (+9bp WoW / -37bp YTD / +66bp YoY)