{"id":53216,"date":"2020-04-13T08:59:50","date_gmt":"2020-04-13T01:59:50","guid":{"rendered":"https:\/\/yuanta.com.vn\/?post_type=phan-tich&#038;p=53216"},"modified":"2020-04-13T08:59:50","modified_gmt":"2020-04-13T01:59:50","slug":"weekly-market-wrap-april-13","status":"publish","type":"phan-tich","link":"https:\/\/yuanta-uat.ysvn.com.vn\/en\/analysis\/weekly-market-wrap-april-13","title":{"rendered":"Weekly Market Wrap: April 13"},"content":{"rendered":"<p><a href=\"http:\/\/yuanta-uat.ysvn.com.vn\/wp-content\/uploads\/2020\/04\/Weekly-April-13.pdf\">Weekly &#8212; April 13<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Vietnam stocks rallied sharply in the week ending April 10<\/strong>, with a strong 55% WoW recovery in turnover and positive market breadth (276 gainers vs 79 losers among the VNI components). However, not all technical indicators were bullish, as foreign investors continued to sell down the market (by another US$21 million).<\/p>\n<p><strong>Index, Flows, and FX Performance<\/strong><br \/>\n\uf0b7 VNINDEX: 758 (+8.0% WoW \/ -21.1% YTD \/ -22.8% YoY)<br \/>\n\uf0b7 HNINDEX: 106 (+8.5% WoW \/ +3.6% YTD \/ -1.2% YoY)<br \/>\n\uf0b7 UPCOM Index: 50.6 (+3.0% WoW \/ -10.5% YTD \/ -10.5% YoY)<br \/>\n\uf0b7 Average daily turnover: US$185mn (+55% WoW)<br \/>\n\uf0b7 Foreigners net sold US$21 million of the 3 indexes\u2019 constituents.<br \/>\n\uf0b7 VND:USD rate: 23,436 (+7bp WoW \/ -112bp YTD \/ -101bp YoY)<\/p>\n<p><strong>VN30 stocks almost all increased WoW<\/strong>, with only EIB (-0.3%) posting a small decline. VHM (+16%) made the single largest positive contribution, coinciding with the approval of deferred tax payments for several industries, including property developers. MSN (+15%) was another noteworthy positive index contributor during the week.<\/p>\n<p><strong>O&amp;G\/Energy in the spotlight.<\/strong> GAS (+13.3% WoW but still -28% YTD), POW (+10.8% WoW \/ -25.5% YTD), and PVD (+24% WoW \/ -38% YTD) bounced sharply. O&amp;G names could be supported by the weekend oil production cut agreement from OPEC-plus if it holds, although power firms may be pressured by EVN\u2019s electricity fee cuts.<br \/>\nVietnam was among the best performers regionally last week.<\/p>\n<p><strong>Market outlook<\/strong>. It was a welcome reprieve, but whether the rally can be sustained may depend on a return of foreign buyers. FINIs have been net sellers almost continuously since last August, but a recovery of global risk appetites and Vietnam\u2019s attractive macro story (and now-cheap valuations) could catalyze a reversal of this trend \u2013 this might help to convince us that the market has bottomed sustainably.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Weekly &#8212; April 13 &nbsp; Vietnam stocks rallied sharply in the week ending April 10, with a strong 55% WoW recovery in turnover and positive market breadth (276 gainers vs 79 losers among the VNI components). However, not all technical indicators were bullish, as foreign investors continued to sell down the market (by another US$21&#8230;<\/p>\n","protected":false},"author":10,"featured_media":0,"template":"","class_list":["post-53216","phan-tich","type-phan-tich","status-publish","hentry","analysis-category-macro","analysis-category-market-strategy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.3 (Yoast SEO v23.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekly Market Wrap: April 13 | Yuanta Vietnam<\/title>\n<meta name=\"description\" content=\"Weekly -- April 13 &nbsp; Vietnam stocks rallied sharply in the week ending April 10, with a strong 55% WoW recovery in turnover and positive market\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Market Wrap: April 13\" \/>\n<meta property=\"og:description\" content=\"Weekly -- April 13 &nbsp; 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Vietnam stocks rallied sharply in the week ending April 10, with a strong 55% WoW recovery in turnover and positive market","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Weekly Market Wrap: April 13","og_description":"Weekly -- April 13 &nbsp; Vietnam stocks rallied sharply in the week ending April 10, with a strong 55% WoW recovery in turnover and positive market","og_url":"https:\/\/yuanta-uat.ysvn.com.vn\/en\/analysis\/weekly-market-wrap-april-13","og_site_name":"Yuanta Vietnam","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/yuanta-uat.ysvn.com.vn\/en\/analysis\/weekly-market-wrap-april-13","url":"https:\/\/yuanta-uat.ysvn.com.vn\/en\/analysis\/weekly-market-wrap-april-13","name":"Weekly Market Wrap: April 13 | Yuanta Vietnam","isPartOf":{"@id":"https:\/\/yuanta-uat.ysvn.com.vn\/#website"},"datePublished":"2020-04-13T01:59:50+00:00","dateModified":"2020-04-13T01:59:50+00:00","description":"Weekly -- April 13 &nbsp; 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