May 7: StoxPlus Morning Brief

Macro Economy

• Vietnam’s GDP Growth to Rise 5.1% in 2012: HSBC
  The Hongkong and Shanghai Banking Corporation (HSBC) adjusted down Vietnam’s gross domestic growth (GDP) to 5.1% in 2012 from 5.7% forecast a month ago, the local news provider Gafin.vn reported.

• Retail Surges 6.1% in First Four Months
  Total retail sales value of goods and services in the first four months of the year surged 21.6% over the same period last year to VND762.2 trillion (US$36.6 billion), according to the General Statistics Office (GSO).

• Export Declines, Domestic Market Slumps
  Production, export and trading activities did not prosper much in April as enterprises are still mired in persistent problems of capital shortage and slow consumption.

• Vietnam’s Industrial Production Index Tumbles
  Vietnam’s industrial production index sharply declined in the first four months of this year while the inventory index accelerated.

• MoF Proposes VND25Tln Tax Cuts to support Local Firms
  The Ministry of Finance (MoF) has proposed the government to reduce corporate income tax (CIT), extends value added tax (VAT) payment time and others worth VND25 trillion ($1.2 billion) to help local firms to get out of their difficulties in 2012.

• HSBC Expects Vietnam to Cut Rate in Early Q3
  HSBC forecasted that the State Bank of Vietnam (SBV) will trim down rates in early Q3/2012.

• Vietnam to Cap Bank Interest Rate Spread at 3%: Source
  The State Bank of Vietnam (SBV) yesterday held a meeting with major commercial banks to work out ways to slash lending interest rates further; aiming to curb interest rate spread at only 3%.

Market News

• Vietnam Bonds Post Biggest Weekly Gain Since 2009: Hanoi Mover
  Vietnam’s benchmark five-year bonds rose, pushing the yield to the lowest level in two and a half years, on speculation banks increased purchases on surplus cash. The dong weakened.

• 4 Reasons Vietnam ETF Has More Gas In Its Tank
  Following a savage beating in 2011 that saw the fund tumble more than 43%, the Market Vectors Vietnam ETF VNM -0.93% has come roaring back in 2012

• Vietnam Stocks: Na Ri, NBB Investment, Post & Telecommunications
  Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 2:15 p.m. close in Ho Chi Minh City.

• May 4: Foreigners Continue Net Buying String on Both HOSE and HNX
  Foreigners extended their position of net buyers on both HOSE and HNX on Friday. Level of participation increased for the third day.          

Corporate Events

·         CII – Cash Dividend 07/05/2012

·         NTB – Annual General Meeting 07/05/2012

·         FBA – Annual General Meeting 07/05/2012

·         VCM – Cash Dividend 07/05/2012

·         SHN – Annual General Meeting 07/05/2012

·         THT – Share Issue 07/05/2012

·         THT – Cash Dividend 07/05/2012

·         DCS – Annual General Meeting 07/05/2012

• TCT – Annual General Meeting 07/05/2012

Corporate News

• CYC: Posts Wider Loss in Q1/2012


• DQC: Net Profit Surges 134% to VND12Bln in Q1/2012


• DIG: Reports VND30Bln Net Profit in Q1/2012, up 21%


• DIC: Net Profit Tumbles 76% to VND2Bln in Q1/2012


• DCL: Net Profit Plunges 89% to VND2Bln in Q1/2012


• DXV: Q1/2012 Net Profit Rises 35% to VND2Bln


• DXG: Net Profit Falls 64% to VND11Bln in Q1/2012


• DVP: Q1/2012 Net Profit Rises 28% to VND44Bln


• DTT: Posts VND3Mln Net Profit in Q1/2012


• DTA: Q1/2012 Net Profit Ups 9% to VND982Mln


• HBC: Net Profit Climbs 12% to VND22Bln in Q1/2012 


• IJC: Net Profit Jumps 54% to VND54Bln in Q1/2012 


• VNF: Q1/2012 Net Profit Plunges 93.4% to VND2.3Bln 


• BMI: Net Profit Sinks 49% to VND23Bln in Q1/2012 


• VHC: Net Profit Falls 54% to VND33Bln in Q1/2012 


• TVD: Q1/2012 Net Profit Plunges 86.5% to VND16Bln 


• TCS: Posts Lower Net Profit at VND39Bln in Q1/2012 


• NVB: Net Profit Rises Slightly to VND48Bln in Q1/2012 


• TVD: Q1/2012 Net Profit Plunges 86.5% to VND16Bln 


• TCS: Posts Lower Net Profit at VND39Bln in Q1/2012