Weekly Report

[Market Commentary] Stocks staged a modest recovery on the sixth day of no new coronavirus cases; shares in industrial parks surged again on hopes for Long Thanh approval. [Futures/ETFs] Local short covering spiked up February contracts by 0.6% in the closing auction as foreigners actively rolled over to the March contract [Market Movers] DIG, SSI

[Market Commentary] Sell off in heavy weights extended correction to third session and industrial parks benefitted from approval of Becamex industrial park project in Binh Dinh province. [Futures/ETFs] Futures crashed in the closing auction as foreigners aggressively unwound long positions before Thursday’s expiry [Market Movers] MSN, YEG, SAB

[Market Commentary] Vin family shares weighed on the VN-Index on concerns that the EV-FTA may negatively impact the VinFast auto subsidiary [Futures/ETFs] Backwardation on February contracts narrowed on big swings in the Vin family names as the VN30 index staged a strong recovery to close in positive territory [Market Movers] PC1, VNM, VIC [Macro/Strategy] February Inflation

[Market Commentary] VNIndex closes modestly down as locals switch out of the VN30 ETF to buy cheaper futures and smaller private-sector banks rally on possibility of higher foreign-ownership limits with EV-FTA. [Futures/ETFs] Foreigners unwound long positions as locals switched to cheaper futures over the E1VFVN30 ETF, with the selldown of large caps at the close narrowing the basis. [Market Movers] PC1, TCM

[Market Commentary] The spike in coronavirus cases in China and more cautious GDP outlook from the MPl led to modest gains in stocks amid lackluster trading. [Futures/ETFs] Futures held 850 and traded higher in the afternoon session but closed negative on heavy local profit taking at the close. [Market Movers] FPT, SBT, VPB [Macro/Strategy] MPI tones down GDP again

Optimism from a recent global business survey and reports of recovering pork supplies sent stocks higher despite news of Vietnam’s fifteenth coronavirus patient

Two additional cases over the weekend renewed corona outbreak fears as stocks retreated from two consecutive sessions of recovery

[Market Commentary] Stocks turned weak after the Ministry of Planning & Investment cut their full-year 2020 GDP forecast to 6.1%-6.3% due to the coronavirus outbreak vs the government target of 6.8%. [Futures/ETFs] Strong foreign buying at the close offsets intra-day weakness in February contracts after the government’s cautious GDP forecast. [Market Movers] HPG, NVL [Company Updates] Vietjet Aviation (VJC); Vinhomes (VHM)

[Market Commentary] VN30 recovered the 850 level in a broad-based rally as China tariff easing boosts sentiment, led by banks and oil-related shares. [Futures/ETFs] Futures closed higher after some tentative trading at the 850 level, with large volumes traded in the closing auction as foreigners unwound intra-day long positions. [Market Movers] NVL, TNG

[Market Commentary] Banks hit by profit taking at the close to push the VNIndex into negative territory as investors worry that the index may test the 900 level again. [Futures/ETFs] February contracts traded weaker after failing again at the 850 level, with trading volumes returning to normal levels and the basis trading back in backwardation to close at minus 3.51 basis points. [Market Movers] CTG, GTN, AAA, ACV [KBSV Model Portfolio] Add: Vietjet Aviation (VJC); Remove: Power Construction JSC No.1