May 25: StoxPlus Morning Brief

25/05/2012

Macro Economy

· Vietnam’s May CPI Accelerates to+0.18%: GSO
Vietnam consumer price index (CPI) in May is estimated to have increased by +0.18% from April mostly thanks to rise in prices of traffic and other goods and services, the General Statistics Office said on its website on May 24th.

· Vietnam Inflation Eases; More Rate Cut Expected
Vietnam’s inflation has eased to a single-digit figure for the first time in a year, making more room for the State Bank of Vietnam (SBV) to cut benchmark rates further to aid growth.

· Vietnam Inflation Slows As Economy Cools
Vietnamese inflation has eased to a single-digit figure for the first time in a year, according to official data, in the latest sign of an economic slowdown in the communist state.

· Vietnam Raises Import Taxes for Petroleum from May 24th
The Ministry of Finance has just issued the circular No.84/2012/TT-BTC, guiding implementation of raising preferential import taxes to petroleum, the local news provider Gafin.vn reported.

· Funds for Property Sector Still Choked
Funds from banks for the property sector, especially for project development, have remained locked after over a month since the central bank loosened its grip on capital for the industry, industry insiders said.

· Vietnam Banks Likely to Pay Deposit Insurance Premiums According to Their Creditworthiness: Draft Law
Credit institutions are likely to be charged different premiums according to their creditworthiness.

· Firms in HCMC Can Borrow Funds at 0% p.a.
Businesses in Ho Chi Minh City can access cheaper loans, even at 0% per annum, the local online newspaper Dau Tu Chung Khoan (“Securities Investment”) reported.

Market News

· Vietnam Stocks Down at Midday Despite Good News on Inflation
Vietnamese stocks fell by midday on Tursday, with positive news on inflation and a fuel price cut failing to revive buying interest, a broker and an analyst said on Thursday.

· May 24: Foreigners Net Sell on HOSE, Net Buy on HNX
Foreigners changed to be net sellers on primary bourse HOSE and continued to be net buyers on HNX on Thursday. Level of participation edged up.

Corporate Events

· NKG – Annual General Meeting 25/05/2012

· HHS – Share Issue 25/05/2012

· MMC – Annual General Meeting 25/05/2012

· CVN – Annual General Meeting 25/05/2012

· AMC – Annual General Meeting 25/05/2012

· VTI – Extraordinary General Meeting 25/05/2012

· VNX – Annual General Meeting 25/05/2012

· MIH – Annual General Meeting 25/05/2012

· MDG – Annual General Meeting 25/05/2012

Corporate News

· MAX: Announces 2012 AGM Resolution