VN Index -7.8% in Feb on a broad market sell-off fueled by real estate companies. PYN Elite -11.2% on VHM, CTG and STB. A prominent developer (not our portfolio company) postponed bond coupon payments due to financial constraints. Although the…
The market is off to a strong start in 2023, as VN-Index +10.3% and PYN Elite +10.3% in Jan, both driven by the stellar rally of the banking stocks. In the middle of the market storm in 4Q22, we made…
In December, VN-Index down -3.9% and PYN Elite up +1.1%. Foreign investors continued to net buy 540 million USD, focusing on HPG, STB and VHM. HOSE’s average trading liquidity improved to about 600 million USD. VN-Index had a volatile year,…
PYN Elite gained +11% in November, driven by VHM, VRE and CTG. VN Index (+2%) was volatile: it first dived -15% before a strong rebound. Two real estate developers suffered margin call as their shares were used as collateral for…
In October, the arrest of unlisted real estate (RE) developer Van Thinh Phat (VTP) Chairwoman and unlisted bank SCB’s involvement in its illegal issuance of multi-billion dollar worth of corporate bonds cast a shadow on Vietnam’s stock market. VN-Index tumbled…
VN Index -11.6% in September, dragged by blue chips. VN-30 Index, representing the 30 largest market value stocks -11.5%. The average daily trading value on HOSE fell to about $566m (-14.2% compared to August). PYN Elite NAV -13.2%. Overall, September…
VN Index +6.2% in August, lifted by VCB, BCM, and consumer stocks. PYN Elite +1,9 %, as our turnaround stocks VRE and ACV took a pause and dampened our performance. Banks gave out optimistic full-year guidances during investor briefings. Moreover,…
Vietnam’s stock market had a bumpy start to July as the VN-Index fell to a 17-month low of 1149 points on July 6th. It then started bottoming out and recovered strongly over the rest of July before closing the month…
VN-Index -7.4% in June due to weak performances of bank, brokerage, steel and real estate stocks. PYN Elite -7.9%. As of 6 months, VN-Index shed around 20%. MSCI’s All-Country World Index tumbled by 21% YTD, and Nasdaq fell 30%. HOSE’s…
VN index -5.4% in May dragged down by steelmaker HPG and banks. PYN Elite (-1.6% MoM) fared better as VHM rose 10% on a successful project launch. In May, the index plunged -14%, then recovered 10% from its low. We…