Weekly Report

[Market Commentary] Vietnam rose on the optimistic outlook for GDP growth in 2020 by the Planning Ministry and better results from the US Treasury's latest currency manipulation report. [Futures/ETFs] January contracts closed higher as the VN30 cash index rose by 0.34% and outpaced the broader VN-Index (+0.12%) amid the heavier weighting of banks shares. [Market Movers] VIC, BVH [Macro/Strategy] Money Market News

[Market Commentary] The VNIndex posted losses against regional markets as banks weighed on the market after Friday's ETF-related strength. [Futures/ETFs] Foreigners actively bought January contracts today into the bank-led weakness in the VN30 index. [Market Movers] PLX, HVG

ETF-related buying in financials allowed the Ho Chi Minh exchange to outperform Hanoi as the VNIndex gapped up in the close amid heavy market-on-close orders in the banks.

Market Commentary] The VNIndex closed near the high of the day as headlines of China's top trade official going to Washington to sign the trade deal sparked a late day rally led by the banks. [Futures/ETFs] Foreigners took profits on January contracts in the late afternoon rally but the pickup in trading volumes into the close failed to bring the active contract out of backwardation and closed the session with a basis of minus 2.96 points. [Market Movers] BID, NLG

[Market Commentary] Vietnamese stocks retraced some losses after falling as much as 1.4% with US-Iran headlines showing moderation on further escalation of tensions but the rally soon faded amid concerns of a prolonged conflict [Futures/ETFs] Vietnam’s weakness compared to regional markets and slight backwardation led foreigners to actively buy January contracts that narrowed the basis to minus 1.48 points [Market Movers] CTG, POW

[Market Commentary] Bank and real estate stocks led the recovery on expectations for strong 4Q results as Vietnamese stocks joined the regional bounce back amid easing concerns over US-Iran tensions. [Futures/ETFs] January contracts rebounded but failed to recover from backwardation for another session as the basis remained slightly negative at the close. [Market Movers] DBC, HVG [Company Updates] December Steel Output (HPG)

[Market Commentary] Oil-related stocks traded up sharply despite Vietnam joining the region-wide sell off amid rising tensions between the US and Iran. [Futures/ETFs] January contracts closed in backwardation for the third consecutive session after a sharp sell off into the close as the slide in S&P500 futures during late Asian hours signaled further weakness in the global markets. [Market Movers] BSR, PVI [KBSV Model Portfolio] Remove Gemadept (GMD); add PetroVietnam Drilling & Well Services (PVD)

[Market Commentary] Vietnam stock market reversed down to the close due to suddenly increasing sell-down in bank stocks [Futures/ETFs] All futures contracts fell alongside the VN30 Index [Market Movers] GVR, HPG

[Market Commentary] Vietnamese stocks rallied thanks to investors’ expectations on the upcoming announcement of companies’ earnings in 4Q19. [Futures/ETFs] All futures contracts posted gains in line with the VN30 Index. [Market Movers] SAB, TPB [Macro/Strategy] 2019 FX Reserves

[Market Commentary] The market fell today given the rising sell-down in benchmark stocks. [Futures/ETFs] All four futures dropped today in line with the VN30 Index. [Market Movers] VCS, QNS