May 24: StoxPlus Morning Brief

24/05/2012

Macro Economy

· Vietnam’s 2012 GDP Growth to Reach 5.7%: WB
Vietnam’s gross domestic product (GDP) growth is forecast at 5.7% and inflation below 10% this year, World Bank (WB) said in its release today.

· Vietnam Forecast to Incur $700Mln Trade Deficit in May: GSO
Vietnam is forecast to incur $700 million trade deficit in May 2012, the local news provider NDHMoney reported, citing data from the General Statistics Office (GSO).

· Vietnam Cuts Petroleum Prices on World Trend
The Ministry of Finance has just issued the circular No.216, requesting the petroleum wholesalers to cut petroleum retail prices from 15:30 local time of May, the local news provider Cafef.vn and Gafin.vn reported.

· Depositors’ Rights Will Be Ensured During Bank Restructuring: SBV
The legitimate rights of depositors will be protected during banking system restructuring process.

· Bank Lending Shows Signs of Increase
Credit growth of commercial banks in Hanoi and Ho Chi Minh City swings to positive figure for the first time within this year, the local online newspaper SGTT.vn reported.

· Vietnam’s Five-Year Bonds Fall Most in 11 Months as Demand Slows
Vietnam’s five-year bonds fell the most in more than 11 months on speculation demand slowed after yields fell to a three-year low. The dong was steady.

Market News

· Stock Markets On The Go
Since the start of 2012, stock markets have outperformed investment channels such as gold, forex and realty trading, as well as bank deposits.

· Vietnam Stocks: Vietcombank, VietinBank, OPC Pharmaceutical
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 23: Foreigners Net Buy on Both HOSE and HNX
Foreigners continued to be net buyers on both HOSE and HNX on Wednesday. Level of participation almost unchanged from yesterday trading.

Corporate Events

· NDN – Annual General Meeting 24/05/2012

· VCV – Annual General Meeting 24/05/2012

· CMX – Annual General Meeting 24/05/2012

· VES – Annual General Meeting 24/05/2012

· LCS – Cash Dividend 24/05/2012

· UNI – Annual General Meeting 24/05/2012

· CTX – New listing 24/05/2012

Corporate News

· MPC: Posts $107Mln Export Turnover in Jan-Apr

· CTA: Makes VND274Mln Net Profit in Q1/2012

· MKV: Makes VND178Mln Net Profit in Q1/2012