May 23: StoxPlus Morning Brief

23/05/2012

Macro Economy

· Vietnam Shows Signs of Economic Growth Slowdown
There have been signs of an economic growth slowdown, said Deputy Prime Minister Nguyen Xuan Phuc at the opening of the third session of the National Assembly’s 13th tenure, began Monday in Hanoi.

· Ho Chi Minh City Posts $264.2Mln Trade Surplus in Jan-May: Statistics Office
Ho Chi Minh city is estimated to run a total of $264.2 million trade surplus in the Jan-May period, the municipal statistics department said.

· Hanoi Runs $5.1Bln Trade Deficit in Jan-May: Statistics Office
Vietnam’s Hanoi capital is estimated to run a total of $5.1 billion trade deficit in the Jan-May period, the municipal statistics department said.

· Economic Crisis Hits Q2 Export Orders
Domestic exporters are experiencing reduced orders for this year’s second quarter because of the economic crisis in the export markets, experts have said.

· MoF to Issue Circular Guiding VAT Payment Extension This Week
The Ministry of Finance (MoF) will issue detailed circular guiding implementation of Value Added Tax (VAT) payment extension by 6 months for businesses in Q2/2012 within this week.

· Vietnam May Decrease Petroleum Prices: Finance Minister
Vietnam will consider to cut down petroleum prices due to global gasoline and oil price slowdown in recent days, Vuong Dinh Hue, Minister of Finance (MoF) told Vnexpress at the sidelines of the National Assembly’s regular meeting on May 18th.

· HCMC Banks to Loosen Lending Conditions to Businesses
Businesses that cannot pay due and overdue debts may be granted new bank loans to settle such debts.

Market News

· Vietnam Listed Banks Q1: Falling Credit Growth; Rising Bad Debts
Financial statements for Q1/2011 of nine listed commercial banks [VCB, CTG, STB, ACB, EIB, SHB, HBB, NVB and MBB] uncovered their inherent problems of falling credit growth and rising bad debts, the local media DVT.vn reported.

· Bad Signals Still in Sight: Brokers
Securities enterprises continue to give a dismal outlook over the market after an eight-day losing streak, predicting that the market may keep falling with low liquidity this week.

· Vietnam Equity Movers: Hung Vuong Corp., Tay Ninh Rubber
Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 11:30 a.m. break in Ho Chi Minh City.

· May 22: Foreigners Net Buy on Both HOSE and HNX
Foreigners ended their string of net sellers on HOSE to change to net buyers on both bourses on Tuesday. Level of participation dropped for the third straight day.

Corporate Events

· VTS – Cash Dividend 23/05/2012

· PVS – Cash Dividend 23/05/2012

· LIG – Cash Dividend 23/05/2012

· DNP – Cash Dividend 23/05/2012

· TV2 – Annual General Meeting 23/05/2012

· HPG – Treasury Stocks 23/05/2012

· PCG – Cash Dividend 23/05/2012

· DHA – Cash Dividend 23/05/2012

· BSC – Cash Dividend 23/05/2012

· TDN – Cash Dividend 23/05/2012

· MCP – Cash Dividend 23/05/2012