Ho Chi Minh City Securities Corporation Essay

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December 21st, 2012 The Vietnam Daily Markets at a Glance HO CHI MINH CITY SECURITIES CORPORATION HoSE HNX 1 day chg (%) -0.73% -0.50% Close 396.78 54.05 Volume (share) 76,824,020 48,915,173 Value (USDmn) 64.14 14.81 Gainers 84 76 Losers 122 104 71 216 Unchanged Foreign Activity Foreign Buy (USDmn) 28.01 Foreign Sell (USDmn) 10.91 Foreign Net (USDmn) 17.09 Foreign Turnover (%) 49.29% MARKET COMMENTARY The markets suffered a minor correction today as a 5% hike in electricity prices effective tomorrow caught people by surprise and provided the perfect excuse for some pre holiday profit taking. Turnover rose to recent highs as we saw heavy technical activity ahead of the holiday season. Market breadth narrowed with 55 stocks going to the ceiling while 60 stocks fell to the floor. Foreigners were extremely active and heavy net buyers though. The put through market was busy and saw two huge transactions; one in MSN and then one in SBT with foreigners buyers of the former. On the active list CTG surged for a second day; PPC continued its run and BVH made further gains. On the other hand high beta issues like PVF; OGC & GMD and then smaller speculative issues such as DHM & LCM all dropped off sharply. Domestic investors were fairly active profit-takers in selective issues. The market was a little rocked today by news that the Ministry of Industry & Trade (MOIT) has promulgated a circular stating that the electricity price increases 5% from December 22nd. Under current regulations you will recall that a 5% or less increase can be suggested by the EVN and agreed to by MOIT without seeking permission from the MOF. We recall that EVN asked for this several months ago but the decision was held over and many thought it might not happen until Q1 0213. Anyway perhaps

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