MARKET COMMENTARY · US stock markets then entered green territory, and the Dow Jones Industrial Average hit its six-month high, which boosted Vietnam’s domestic market. Market

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MARKET COMMENTARY

Markets at a Glance HSX HNX

Close 592.48 80.94

1 Day Change (%) 2.91% 1.57%

Volume (Shares) 140,754,879 51,857,639

Value (VNDbn) 2,758 630

HSX/HNX-30 595.38 144.39

Gainers/Ceiling 150/18 134/20

Losers/Floor 75/12 90/18

Unchanged 63 59

Foreign Activity HSX HNX

Foreign Buying (VNDbn) 540.7 (20.37%)* 13.0(2.0%)*

Foreign Selling (VNDbn) 336.1(12.6%)* 6.6(1.0%)*

Net Buying/Selling 204.6 6.4

* % Total Value

Table of Contents:

Market Commentary Page 1

Technical Analysis Page 2

HSX Indices Page 3

Company News Page 4

Recommendation Page 5-6

Major Market Movers Page 7

Top 5 (By Market Cap) For Each Sector Page 8

ETF Trading Page 9-10

ETF Holding Page 11

Neighboring Markets Page 12

Commodities Price Page 13

Contact Information & Disclaimer Page 14-15

VN-Index enters bull market

The Doha meeting on April 17, between 16 oil-producing

countries, ended without an agreement; the VN-Index

then dropped by two percent in the first trading session

of the week on April 19, from its resistance of 580 to

below 570, as oil & gas stocks like GAS and PVD fell

alongside the price of crude. However, other news stalled

the decline of crude oil. A strike in Kuwait, the fourth

largest OPEC member in terms of productivity, caused a

decline of up to 60 percent in the country’s output to only

1.1 million barrels per day. Crude oil rebounded on April

21, reaching a new 2016 high at USD44.3 per barrel,

following data from the US showing a fall in domestic

crude output for six consecutive weeks. US stock markets

then entered green territory, and the Dow Jones

Industrial Average hit its six-month high, which boosted

Vietnam’s domestic market.

Market demand recovered towards the end of the week

and rose strongly today for key stocks such as VCB, BID,

CTG, BVH, VIC, GAS, and VNM, helping the VN-Index to

increase by 2.91 percent and break out from its strong

MA200 resistance at 580 to enter a bull market. Positive

signals from the VN-Index were supported by both the

HNX-Index and VN30, together with strong increases in

liquidity on both the HSX and HNX. Total market volume

reached nearly VND3,500 billion (USD157 million), up by

more than 30 percent from yesterday. Foreign investors

continued to net buy strongly on the HSX, pushing total

net buying this week to more than VND410 billion

(USD18.4 million). This is a very positive signal for the

market, helping to improve market sentiment. The VN-

Index is likely to extend its rise to 615 next week, and the

HNX-Index could reach 82.5-83.0. However, cash will

probably be concentrated on those stocks mentioned

earlier with significant weights in the index basket.

Traders should keep this in mind and derive suitable

strategies accordingly.

DAILY MARKET REVIEW April 22, 2016


HSX – Daily Chart (3 Month)

VN-Index

Crossed resistance at 585: The VN-Index rose

strongly today and crossed the long-term resistance at

578, formed by the MA200, followed by the resistance

level at 585. The technical chart shows a long white

candle, closing at the intraday high with greatly

increased volume, which indicates that buying forces

were totally in control of the market.

Outlook: The VN-Index could continue its rally to

challenge 600 in the next session.

HNX-Index

Crossed MA200 resistance: The HNX-Index rose

strongly today and crossed the MA200 resistance level

at 80. The technical chart shows a long white candle

with increased volume, indicating that buying forces

were in control of the market. The next resistance level

of the Index is at 81.

Outlook: The HNX-Index could continue its rally to

challenge 81 in the next session.

VN30 - Index

Overcame the MA200 resistance: The VN30 rallied

today to break through the long-term resistance level

at 593.5, formed by the MA200. The technical chart

shows a long white candle, closing at the intraday

high. Volume also increased significantly today,

indicating that buying forces were totally in control of

the market.

Outlook: The VN30 could continue its rally to advance

towards 600 in the next session.

HNX – Daily Chart (3 Month)

Vn30 – Daily Chart (3 Month)

TECHNICAL ANALYSIS


Source: HSX

VNSmall 750.15 1.06% VNMidcap 761 0.89%

VN100 581.53 1.94% VNAllshare 592.88 1.88%

620

645

670

695

720

745

770

01/16 02/16 03/16 04/16

680

705

730

755

780

01/16 02/16 03/16 04/16

500

515

530

545

560

575

590

01/16 02/16 03/16 04/16520

535

550

565

580

595

610

01/16 02/16 03/16 04/16

HSX INDICES


VNM: Q1/2016 preliminary PBT completes 23 percent of our annual forecast

Vietnam Dairy Products JSC (VNM) has announced its preliminary results for Q1/2016: total revenues increased by

18 percent y-o-y to VND10,369 billion (USD461 million), fulfilling 22 percent of our 2016 forecast, and PBT rose by

38 percent y-o-y to VND2,626 billion (USD117 million), fulfilling 23 percent of our forecast.

As mentioned in our most recent report on VNM, and also in the Q2/2016 Market Outlook Report, VNM should enjoy

an excellent gross margin of a predicted 41.6 percent for 2016, improved from 40.6 percent in 2015. This can be

attributed to the low input-price environment, and has boosted VNM’s business performance with a projected EPS

of VND7,050 in 2016, surging by 37 percent y-o-y.

We reiterate our BUY recommendation for VNM with a one year target price of VND152,000 per share. Today

VNM’s stock price closed up 2.2 percent at VND140,000 per share, trading at 2016 P/E of 19.9x and 2017 P/E of 18.8x

based on our forecasts. Note that the company will hold its AGM on May 21, 2016, and a proposed increase of the

foreign ownership limit will be presented for discussion at the meeting.

VND billion Q1/2016 Q1/2015 % y-o-y

2016

VPBS

forecast

% VPBS

forecast

Total revenue 10,369 8,771 18.2%

Net revenue 8,716 46,095 22%*

Pre-tax income 2,626 1,905 37.8% 11,470 23%

* VNM's Q1/2016 total revenue over VPBS's 2016 net revenue forecast

Source: VNM, VPBS

COMPANY NEWS


Ticker

Current

Price

(04/22/2016)

Recommen

-dation

Long-term

Value

Target

Price

(FA)

Short-

term

Trend

Support

Level

Resistance

Level P/E P/B

EPS

2015

Growth

Foreign

Room

Available

ACB 18,200 BUY Undervalued 19,400 Neutral 18,000 24,000 15.8 1.3 25% 0.0%

BID 17,000 BUY Undervalued 19,000 Neutral 12,000 19,000 8.6 1.4 11% 28.2%

BVH 55,500 BUY Fully-valued 56,900 Bullish 47,000 60,000 33.6 3.0 16% 24.3%

CII 25,000 BUY Undervalued 28,300 Neutral 25,000 28,000 7.7 1.7 1% 0.0%

CTG 16,800 BUY Undervalued 18,300 Neutral 16,000 19,000 11.0 1.1 -6% 0.4%

DCM 12,800 BUY Undervalued 15,000 Bullish 11,800 13,800 NA 1.1 -14% 44.0%

DPM 29,300 BUY Undervalued 34,600 Bullish 28,500 32,000 7.5 1.3 43% 24.3%

EIB 10,500 BUY Fully-valued 10,600 Bullish 10,000 14,200 206.6 1.0 610% 2.3%

FCN 22,300 BUY Undervalued 25,700 Bullish 20,000 23,000 7.2 1.3 18% 0.0%

FPT 47,800 BUY Undervalued 63,000 Neutral 44,000 50,000 9.8 2.2 -3% 0.0%

GAS 49,500 BUY Undervalued 52,200 Bullish 48,500 55,000 13.0 2.3 -32% 47.0%

GMD 39,200 BUY Undervalued 46,400 Neutral 35,000 43,500 11.4 0.9 -23% 0.0%

HPG 32,700 BUY Undervalued 37,700 Bullish 32,000 36,000 6.9 1.7 -22% 10.2%

HUT 9,600 BUY Undervalued 12,800 Neutral 8,500 11,000 5.1 0.7 -69% 17.1%

MBB 14,900 BUY Undervalued 15,500 Bullish 14,000 16,000 7.5 1.1 -19% 2.7%

NLG 22,700 BUY Undervalued 26,200 Neutral 21,000 23,700 14.6 1.4 61% 0.0%

NT2 28,800 BUY Undervalued 38,100 Neutral 26,500 36,000 9.9 1.7 -50% 28.4%

PVI 25,100 BUY Undervalued 29,600 Bullish 24,000 25,500 9.6 0.9 -12% N/A

PVS 17,200 BUY Fully-valued 17,200 Bullish 12,500 17,500 5.1 0.7 -6% 23.7%

REE 23,800 BUY Undervalued 30,700 Neutral 22,000 24,000 7.4 1.0 -11% 0.0%

SHB 6,500 BUY Undervalued 6,750 Neutral 5,500 7,200 7.6 0.5 -16% 18.0%

STB 10,200 BUY Undervalued 14,600 Neutral N/A 12,500 12.7 0.8 -87% 19.1%

VCB 45,700 BUY Fully-valued 46,100 Bullish 42,000 55,000 20.2 2.7 10% 9.0%

VHC 29,300 BUY Undervalued 43,200 Bullish 22,500 32,500 8.5 1.3 -30% 68.4%

VIC 54,500 BUY Fully-valued 58,000 Bullish 48,500 54,500 82.6 4.1 -48% 15.6%

VNM 140,000 BUY Undervalued 152,000 Neutral 135,000 145,000 24.0 8.1 37% 0.0%

VNS 28,300 BUY Undervalued 35,800 Bullish 25,000 32,500 5.9 1.3 -13% 3.5%

VSC 57,500 BUY Undervalued 79,000 Neutral 52,000 60,000 8.3 1.9 -5% 0.0%

HBC 18,900 HOLD Fully-valued 19,000 Neutral 18,200 22,700 13.3 1.3 27% 0.1%

HCM 29,600 HOLD Undervalued 33,800 Bearish 26,000 30,000 16.3 1.7 -27% 0.0%

HSG 42,400 HOLD Overvalued 34,600 Bullish 40,000 45,000 7.2 1.7 54% 16.9%

MSN 69,000 HOLD Undervalued 92,000 Bearish 67,000 80,000 34.8 3.1 63% 18.5%

MWG 74,000 HOLD Undervalued 99,000 Bearish 70,000 82,000 9.6 4.4 14% 0.0%

PGS 19,500 HOLD Overvalued 18,800 Bullish 17,900 22,800 4.0 1.1 10% 27.6%

PPC 18,000 HOLD Undervalued 19,400 Bearish 17,000 20,000 12.6 1.0 -42% 36.9%

PVD 24,800 HOLD Fully-valued 23,500 Neutral 18,300 27,000 7.3 0.7 -21% 14.4%

PVT 10,800 HOLD Fully-valued 10,800 Neutral 8,000 12,000 7.9 0.8 -10% 35.6%

SSI 21,500 HOLD Undervalued 26,600 Bearish 21,000 24,000 11.9 1.6 40% 45.1%

VND 11,800 HOLD Fully-valued 12,400 Neutral 11,000 13,000 9.1 0.9 -27% 6.0%

RECOMMENDATION


BTP 14,700 SELL Overvalued 12,600 Neutral 12,000 15,000 4.0 0.9 -55% 40.6%

DHG 85,500 SELL Overvalued 68,600 Neutral 70,000 90,000 12.9 3.0 10% 0.0%

HAG 7,000 SELL Fully-valued 9,400 Bearish N/A 10,500 8.9 0.4 -17% 29.7%

IMP 49,500 SELL Overvalued 40,800 Neutral 45,000 52,000 16.9 1.6 -19% 0.0%

TCM 25,300 SELL Fully-valued 26,500 Bearish 24,800 32,000 8.7 1.4 -5% 0.0%

VSH 14,800 SELL Fully-valued 14,900 Bearish 13,000 15,000 12.2 1.1 74% 21.4%

Note:

Undervalued: Expected return, including dividends, over the next 12 months is greater than 10 percent.

Fully-valued: Expected return, including dividends, over the next 12 months is from zero to 10 percent.

Overvalued: Expected return, including dividends, over the next 12 months is below zero.

Stock with changed in recommendation


Top 5 Gainers on HSX (*)

Top 5 Gainers on HNX (*)

Code Price Net Chg %+/- T %+/-T+3 Volume


BID 17,000 1,100 6.9% 9.0% 2,817,020

QHD 62,700 5,700 10.0% 2.8% 136,097

PNJ 56,000 3,500 6.7% 8.7% 214,730

FID 13,500 1,200 9.8% 12.5% 442,610

VCB 45,700 2,800 6.5% 7.8% 2,478,140

NHP 18,800 1,600 9.3% 9.3% 635,300

LDG 8,300 500 6.4% -3.5% 604,750

HDA 16,400 1,300 8.6% 7.9% 229,800

VIS 8,500 500 6.3% 6.3% 262,810

TVC 14,600 1,000 7.4% 9.0% 1,912,700

Top 5 Losers on HSX (*)

Top 5 Losers on HNX (*)



BTP 14,700 (1,000) -6.4% -15.0% 505,650

TEG 16,500 (600) -3.5% -2.4% 327,900

ASP 5,100 (300) -5.6% -7.3% 252,960

ACM 4,200 (100) -2.3% - 348,800

DHM 10,300 (500) -4.6% -6.4% 1,341,720

PVB 21,600 (400) -1.8% 3.3% 133,250

KMR 6,400 (300) -4.5% -11.1% 1,914,690

S99 5,700 (100) -1.7% -3.4% 741,460

VPH 10,800 (500) -4.4% 1.9% 244,560

NDN 8,800 (100) -1.1% -2.2% 287,300

(*) (Market cap. > 150 VNDbn, Volume > 100.000

Top 5 Volume on HSX

Top 5 Volume on HNX (*)



FLC 6,500 100 1.6% 1.6% 6,305,120

PVS 17,200 700 4.2% 8.9% 3,791,039

HAR 4,700 100 2.2% 6.8% 6,202,000

KHB 5,100 - - 2.0% 3,424,060

BHS 21,000 1,000 5.0% 11.1% 6,119,730

SCR 9,400 100 1.1% 4.4% 3,320,250

HPG 32,700 1,200 3.8% 5.8% 4,327,260

KLF 3,400 - - - 2,021,007

VHG 5,600 100 1.8% 1.8% 3,613,970

SHB 6,500 200 3.2% 1.6% 1,927,526

Top 5 Net Buying on HSX by Foreign Investors

Top 5 Net Buying on HNX by Foreign Investors

Code Price Buy Vol. Sell Vol. Net Vol. Net Value


VCB 45,700 1,164,810 6,000 1,158,810 51,557

SHB 6,500 360,000 700 359,300 2,307,170

GAS 49,500 1,031,060 12,310 1,018,750 49,482

VGS 12,100 148,600 - 148,600 1,746,140

BID 17,000 1,633,720 150,000 1,483,720 24,617

PVS 17,200 115,000 22,000 93,000 1,566,500

SSI 21,500 1,439,670 501,460 938,210 20,055

KLF 3,400 281,000 - 281,000 955,400

BVH 55,500 300,000 350 299,650 16,410

BCC 13,900 45,400 - 45,400 631,810

Top 5 Net Selling on HSX by Foreign Investors

Top 5 Net Selling on HNX by Foreign Investors



CTD 170,000 4,140 96,280 (92,140) (15,680)

HUT 9,600 - 112,700 (112,700) (1,093,940)

DPM 29,300 33,900 297,300 (263,400) (7,737)

KLS 9,400 - 80,800 (80,800) (759,520)

DIG 8,500 463,900 1,331,299 (867,399) (7,301)

NET 48,000 13,800 29,000 (15,200) (728,190)

PDR 15,100 7,400 373,610 (366,210) (5,518)

TNG 18,200 - 28,000 (28,000) (508,450)

VNS 28,300 100 134,000 (133,900) (3,830)

MAC 11,200 - 45,000 (45,000) (504,000)

Value: in VNDmn and Volume: in shares Source: HSX, HNX, Bloomberg

MAJOR MARKET MOVERS


Outperforming Sectors on HSX

Underperforming Sectors on HSX

Technology

Healthcare

Code P/E P/B ROE Market Cap.

(VNDbn) Change 30D

Code P/E P/B ROE

Market Cap.

(VNDbn) Change 30D

Average 9.9 1.5 23.8%

Average 12.6 1.8 15.9%

FPT 9.8 2.2 23.4% 18,998 -1.8%

DHG 12.9 3.0 23.0% 7,434 3.0%

MWG 20.4 4.4 41.2% 10,851 -3.9%

TRA 17.0 3.3 20.7% 2,936 19.0%

DGW 7.4 1.3 22.1% 810 -8.3%

IMP 16.9 1.6 10.8% 1,433 9.0%

CMG 8.9 1.2 14.7% 994 -8.0%

DMC 13.1 2.5 18.8% 1,963 14.0%

ELC 12.6 1.4 10.9% 1,010 4.4%

OPC 12.4 2.0 15.9% 919 3.7%

Consumers

Materials


(VNDbn) Change 30D

Code P/E P/B ROE

Market Cap.

(VNDbn) Change 30D

Average 14.7 1.7 20.9%

Average 9.6 1.1 13.4%

VNM 24.0 8.1 34.7% 168,020 5.3%

HPG 6.9 1.7 26.6% 23,965 10.8%

MSN 34.8 3.1 9.3% 51,524 -1.4%

DPM 7.5 1.3 17.4% 11,466 1.4%

HNG 5.8 0.5 9.5% 4,886 -21.6%

HT1 13.1 1.9 18.5% 8,299 4.0%

KDC 1.1 1.0 93.3% 5,121 5.1%

HSG 7.2 1.7 24.9% 5,556 19.4%

VCF 14.4 2.4 18.2% 4,253 -1.2%

POM 73.7 0.8 1.1% 1,882 29.5%

Industrials

Financials


(VNDbn) Change 30D

Code P/E P/B ROE

Market Cap.

(VNDbn) Change 30D

Average 11.2 1.1 10.1%

Average 18.7 1.1 8.7%

REE 7.4 1.0 13.9% 6,417 -3.3%

VCB 20.2 2.7 12.0% 121,791 5.5%

CII 7.7 1.7 21.3% 6,259 6.8%

VIC 82.6 4.1 5.3% 105,722 19.8%

ITA 22.9 0.4 2.0% 3,940 -6.0%

CTG 11.0 1.1 10.3% 62,553 -1.8%

BMP 12.7 3.2 26.8% 6,367 -0.7%

BVH 33.6 3.0 9.1% 37,766 3.7%

CTD 9.3 2.5 22.8% 7,954 -0.6%

STB 12.7 0.8 5.6% 18,397 -3.8%

Utilities

Energy


(VNDbn) Change 30D

Code P/E P/B ROE

Market Cap.

(VNDbn) Change 30D

Average 10.2 1.3 11.2%

Average 11.6 1.7 16.5%

PPC 12.6 1.0 8.3% 5,727 -4.3%

GAS 13.0 2.3 22.1% 94,711 8.8%

VSH 12.2 1.1 8.7% 3,052 -6.3%

PVD 7.3 0.7 13.6% 8,632 -5.7%

TMP 13.2 1.8 20.0% 1,925 0.0%

PGD 15.5 3.1 19.6% 3,960 24.6%

TBC 14.1 1.8 13.1% 1,556 -2.0%

CNG 9.1 2.7 28.5% 1,066 26.6%

SJD 7.0 1.1 17.5% 1,141 -1.2%

PGC 7.1 1.0 14.2% 652 0.9%

Source: Bloomberg, VPBS collected

TOP 5 (BY MARKET CAP) FOR EACH SECTOR


FOREIGN ETF TRADING

Ticker NAV

Daily

change

NAV

Shares

Outstanding

Daily

Change in

Share

Outstanding

Last

price

Daily

Change

price

Premium/

Discount

Date of

announcements

VNM $14.00 0.47% 23,550,000 0 $13.98 (0.29%) (0.13%) Price at 04/21/2016,

NAV at 04/21/2016

FTSE Vietnam $22.29 1.39% 14,897,400 0 $22.59 1.39% (0.03%) Price at 04/22/2016,

NAV at 04/21/2016

Total Shares Outstanding Difference between Price and NAV (%)

VNM

FTSE

Vietnam


17

19

21

23

25

27

29

10/15 11/15 12/15 01/16 02/16 02/16 03/16 04/16

-5%

-4%

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

10/15 11/15 12/15 01/16 02/16 03/16 04/16

14

15

16

17

10/15 11/15 12/15 01/16 02/16 03/16 04/16

-3%

-2%

-1%

0%

1%

2%

3%

10/15 11/15 12/15 01/16 02/16 03/16 04/16


DOMESTIC ETF TRADING

Ticker NAV

Daily

change

NAV

Shares

Outstanding

Daily

Change in

Share

Outstanding

Last

price

Daily

Change

price

Premium/

Discount

Date of

announcements

VFMVN30 9,275 1.29% 37,200,000 100,000 9,400 1.08% 0.27% Price at 04/23/2016,

NAV at 04/21/2016

E1SSHN30 7,759 - 10,100,000 0 10,000 0.00% 29.24% Price at 04/23/2016,

NAV at 04/14/2016

Total Shares Outstanding Difference between Price and NAV (%)

VFMVN

30

E1SSHN

30


-

5

10

15

20

25

30

35

40

45

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

6%

-

2

4

6

8

10

12

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%


VNM - Updated as April 21, 2016

FTSE - Updated as April 18, 2016


Ticker Listed Holding

shares

Current

Weight Price % +/- T % +/- T+5 Volume 1D

Avg Volume

5D

PE

(TTM) EPS (TTM)

EPS (TTM)

Growth

VIC HSX 12,737,242 8.93% 54,500 5.8% 3.8% 1,729,690 1,252,110 82.6 660 -66.49%

MSN HSX 7,844,780 7.45% 69,000 -1.4% -0.7% 195,010 265,852 34.8 1,980 34.36%

VCB HSX 12,518,018 7.30% 45,700 6.5% 8.0% 2,478,140 906,776 20.2 2,259 25.25%

SSI HSX 22,508,071 6.48% 21,500 1.4% -0.9% 1,503,600 1,957,416 11.9 1,811 12.73%

STB HSX 40,753,322 5.64% 10,200 0.0% 0.0% 318,700 893,368 12.7 803 -46.36%

BVH HSX 7,682,896 5.53% 55,500 4.7% 5.7% 972,560 318,926 33.6 1,652 -9.81%

DPM HSX 12,075,900 4.84% 29,300 -0.7% 1.4% 466,560 649,684 7.5 3,916 35.72%

HPG HSX 11,140,630 4.77% 32,700 3.8% 4.1% 4,327,260 2,881,774 6.9 4,755 9.32%

SBT HSX 10,333,070 4.57% 33,400 2.8% 9.2% 1,803,470 1,557,464 17.8 1,880 98.52%

NT2 HSX 10,629,299 4.27% 28,800 -2.4% -11.6% 1,635,360 569,357 9.9 2,904 -48.00%

PVS HNX 15,432,550 3.45% 17,200 4.2% 6.2% 3,790,900 1,895,836 5.1 3,347 -23.80%

HAG HSX 32,747,374 3.02% 7,000 2.9% -1.4% 2,824,490 3,315,334 8.9 784 -57.88%

KDC HSX 7,957,810 2.68% 24,900 0.4% -0.8% 343,250 265,848 1.1 22,736 946.64%

ITA HSX 40,545,461 2.53% 4,700 2.2% -2.1% 866,460 2,506,134 22.9 206 -9.32%

FLC HSX 28,557,412 2.48% 6,500 1.6% 1.6% 6,305,120 4,905,538 3.9 1,687 36.39%

PVD HSX 7,214,687 2.33% 24,800 3.8% 3.3% 2,970,500 1,207,234 7.4 3,353 -53.06%

SHB HNX 23,583,621 2.02% 6,500 3.2% 1.6% 1,927,000 6,165,586 7.6 856 -0.81%

KBC HSX 11,035,930 1.93% 13,100 1.6% -0.8% 943,870 1,845,294 9.7 1,353 51.00%

PVT HSX 12,728,695 1.83% 10,800 1.9% 0.9% 1,087,740 1,089,960 7.9 1,371 3.83%

VCG HNX 12,818,597 1.83% 10,600 1.0% -2.8% 1,113,700 900,927 15.4 690 2.20%

HHS HSX 10,146,543 1.14% 8,400 1.2% -1.2% 1,756,220 1,232,496 3.9 2,157 -43.88%

GMD HSX 6 0.00% 39,200 1.6% 0.0% 180,570 177,198 11.4 3,449 -36.27%

PVX HNX 68 0.00% 2,600 0.0% -3.7% 1,129,400 2,049,142 35.4 73 -75.18%

DRC HSX 3 0.00% 45,300 0.9% -3.2% 225,560 301,392 9.8 4,618 19.0%

OGC HSX 6 0.00% 3,100 0.0% 0.0% 2,473,900 1,849,018 0.6 5,000 240.1%

% Fund invests in Vietnam 85.02%

Ticker Listed Holding

shares

Current

Weight Price % +/- T % +/- T+5 Volume 1D

Avg Volume

5D PE (TTM) EPS (TTM)

EPS (TTM)

Growth

VIC HSX na 16.79% 54,500 5.8% 3.8% 1,729,690 1,252,110 82.6 660 -66.5%

MSN HSX na 13.79% 69,000 -1.4% -0.7% 195,010 265,852 34.8 1,980 34.4%

HPG HSX na 10.33% 32,700 3.8% 4.1% 4,327,260 2,881,774 6.9 4,755 9.3%

VCB HSX na 8.33% 45,700 6.5% 8.0% 2,478,140 906,776 20.2 2,259 25.2%

SSI HSX na 6.96% 21,500 1.4% -0.9% 1,503,600 1,957,416 11.9 1,811 12.7%

STB HSX na 5.02% 10,200 0.0% 0.0% 318,700 893,368 12.7 803 -46.4%

DPM HSX na 4.02% 29,300 -0.7% 1.4% 466,560 649,684 7.5 3,916 35.7%

PVD HSX na 3.58% 24,800 3.8% 3.3% 2,970,500 1,207,234 7.4 3,353 -53.1%

KDC HSX na 2.89% 24,900 0.4% -0.8% 343,250 265,848 1.1 22,736 946.6%

NT2 HSX na 2.68% 28,800 -2.4% -11.6% 1,635,360 569,357 9.9 2,904 -48.0%

BVH HSX na 2.63% 55,500 4.7% 5.7% 972,560 318,926 33.6 1,652 -9.8%

KBC HSX na 2.56% 13,100 1.6% -0.8% 943,870 1,845,294 9.7 1,353 51.0%

SBT HSX na 2.55% 33,400 2.8% 9.2% 1,803,470 1,557,464 17.8 1,880 98.5%

HAG HSX na 2.13% 7,000 2.9% -1.4% 2,824,490 3,315,334 8.9 784 -57.9%

ASM HSX na 1.80% 18,000 0.0% 0.0% 1,025,910 1,251,332 28.5 631 -42.0%

ITA HSX na 1.77% 4,700 2.2% -2.1% 866,460 2,506,134 22.9 206 -9.3%

PGD HSX na 1.64% 44,000 1.1% 0.7% 911,330 583,868 15 2,845 46.4%

TTF HSX na 1.62% 29,000 3.6% 16.0% 585,300 464,980 11 2,633 57.2%

FLC HSX na 1.55% 6,500 1.6% 1.6% 6,305,120 4,905,538 4 1,687 36.4%

PDR HSX na 1.44% 15,100 -1.3% -5.0% 1,134,740 831,262 18 850 225.9%

PVT HSX na 1.07% 10,800 1.9% 0.9% 1,087,740 1,089,960 8 1,371 3.8%

HHS HSX na 1.06% 8,400 1.2% -1.2% 1,756,220 1,232,496 4 2,157 -43.9%

HQC HSX na 1.01% 5,600 0.0% 0.0% 3,608,860 3,554,434 3 1,918 754.2%

HNG HSX na 0.96% 6,900 1.5% -1.4% 1,190,950 1,022,604 6 1,181 -37.9%

BHS HSX na 0.94% 21,000 5.0% 9.9% 6,119,730 3,505,564 10 2,074 65.1%

HVG HSX na 0.86% 10,200 2.0% -1.0% 745,470 482,404 - - na

ETF HOLDINGS


65

75

85

95

105

115

125

04/15 06/15 08/15 10/15 12/15 02/16 04/16

Ho Chi Minh Stock Exchange MSCI EFM ASIA Index Bangkok Stock Exchange

Jakarta Stock Exchange Philippines Stock Exchange

0

4

8

12

16

20

24

28

P/E P/B ROE ROA

Bangkok Stock Exchange Jakarta Stock Exchange

Philippines Stock Exchange Ho Chi Minh Stock Exchange

Market

Bangkok

Stock

Exchange

Jakarta

Stock

Exchange

Philippines

Stock

Exchange

Ho Chi

Minh Stock

Exchange

P/E 19.4 26.0 21.5 12.7

P/B 1.8 2.4 2.5 1.8

ROE 9.2 10.7 12.2 14.1

ROA 2.3 2.7 2.8 2.5

Market Cap.

(USDbn) 388.5 395.5 183.0 51.8

Foreign Net Inflow

- YTD (USDmn) 463.6 459.5 (11.6) (100.6)

Foreign Net Inflow

- 5D (USDmn) 75.1 82.8 (35.2) 17.9

Government bond

yield 5Y %) 1.47% 7.22% 3.09% 6.39%


NEIGHBORING MARKETS


Commodities Unit Current

price

Change

1D

Change

5D

Change

1M Impact

Update

Date

Rubber (Tocom) USD/MT 1,764.2 -0.37% 4.85% -7.26% Rubber Industry 4/22/2016

Ure (China) USD/MT 222.0

0.63% 4.30% Agriculture 4/19/2016

Refined Sugar (Sao

Paulo) USD/MT 600.0 0.00% -1.38% -3.60% F&B Industry 4/20/2016

Wheat (Chicago) USD/MT 211.0 2.93% 7.65% 3.43% F&B Industry 4/20/2016

LPG-Butane (Arab) USD/MT 320.0

9.38% CPI, Energy Industry 3/31/2016

LPG-Propane (Arab) USD/MT 290.0

10.34% CPI, Energy Industry 3/31/2016

Gasoline A92

(Singapore) USD/barrel 49.0 0.76% -2.39% 3.70% CPI, Energy Industry 4/20/2016

Crude Oil WTI

(New York) USD/barrel 43.3 0.37% 7.38% 4.56% CPI, Energy Industry 4/22/2016

Steel-HRC

(New York) USD/MT 498.0 0.22% 12.24% 29.34%

Construction, Mining

Industry 4/22/2016

Gold-International USD/Ounce 1,247.4 -0.06% 1.08% -0.08%

4/22/2016

Gold-VN VNDmn/Tael 34.0 -0.13% -0.76% -2.00%

7/9/2015

Dif Gold Price VNDmn/Tael - 3.6 3.6 3.5

Index Unit Current

price

Change

1D

Change

5D

Change

1M Impact

BDI Index Index 670 0.1% 5.5% 68.3% Shipping 4/21/2016


COMMODITIES PRICE


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