External broker reports(aggregated public sources), Vietcap

Vietcap

External broker reports(aggregated public sources)

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<ul><li>We lower our average 2024F Brent oil price assumption by 3.6% to USD80/bbl.</li><li>YTD to October 3, the average Brent oil price was USD82/bbl, slightly lower than our previous 2024F forecast of USD83/bbl.</li><li>However, we anticipate subdued oil prices in Q4, driven by weak demand from China, which is expected to outweigh concerns over rising tensions in the Middle East and a projected oil deficit from the US Energy Information Administration (EIA) — defined as a situation where global oil production falls short of global consumption.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We lower our average 2024F Brent oil price assumption by 3.6% to USD80/bbl.YTD to October 3, the average Brent oil price was USD82/bbl, slightly lower than our previous 2024F forecast of USD83/bbl.However, we anticipate subdued oil prices in Q4, driven by weak demand from China, which is expected to outweigh concerns over rising tensions in the Middle East and a projected oil deficit from the US Energy Information Administration (EIA) — defined as a situation where global oil production falls short of global consumption.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Oil & Gas Sector - Lowering 2024F Oil Price, Raising 2025F Forecast

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

<ul><li>The recovery of China’s market points to rising demand for crude oil.</li><li>China’s total imports have increased by 20% YoY, providing significant support for oil prices amid the global economy’s still-slow recovery.</li><li>According to the International Energy Agency (IEA), global crude oil demand is forecast to increase to 103mnbd by 2mnbd (+2% YoY) in 2023.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

The recovery of China’s market points to rising demand for crude oil.China’s total imports have increased by 20% YoY, providing significant support for oil prices amid the global economy’s still-slow recovery.According to the International Energy Agency (IEA), global crude oil demand is forecast to increase to 103mnbd by 2mnbd (+2% YoY) in 2023.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Industry Report - Oil and Gas - Neutral - China's recovery holds key to growth

Global Cross-Asset Energy Analyst, VAC Investments

Aaditya Chintalapati, CFA

Global Cross-Asset Energy Analyst

VAC Investments

<h2>Oil Price</h2><p>A seventh straight weekly drop for Crude Oil prices was seen last week, the longest losing streak in prices since 2015. WTI ended the week at USD 65.93/bbl, with Brent at USD 71.76/bbl, both down c.3% w/w. Continued price weakness was driven by API's estimate of record US Crude Oil (10.7 MMbbls) and NGLs production (4.4 MMbbls) in 2018, combined with modest production growth amongst OPEC countries such as Libya. Elsewhere, despite risks to as much as c.600K - 1.2Mbbls/day of Crude oil…</p>

Oil PriceA seventh straight weekly drop for Crude Oil prices was seen last week, the longest losing streak in prices since 2015. WTI ended the week at USD 65.93/bbl, with Brent at USD 71.76/bbl, both down c.3% w/w. Continued price weakness was driven by API's estimate of record US Crude Oil (10.7 MMbbls) and NGLs production (4.4 MMbbls) in 2018, combined with modest production growth amongst OPEC countries such as Libya. Elsewhere, despite risks to as much as c.600K - 1.2Mbbls/day of Crude oil…

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul>
<li><strong>SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold mining stocks. These 11 stocks are at different stages in the exploration, development, production cycle and have averaged a 19.0% gain in 2017 YTD.</strong></li>
<li>
<strong>Of the three segments, mining industrial minerals has been the strongest performer in the 2017 YTD with an average 30.4% gain, led Alliance Minerals Assets. Coal was the next best performer with the four stocks</strong>…</li>
</ul>


SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold mining stocks. These 11 stocks are at different stages in the exploration, development, production cycle and have averaged a 19.0% gain in 2017 YTD.

Of the three segments, mining industrial minerals has been the strongest performer in the 2017 YTD with an average 30.4% gain, led Alliance Minerals Assets. Coal was the next best performer with the four stocks…


Average 19% YTD Gain in Key Mining Stocks

Viet Capital Securities Joint Stock Company

Luan Nguyen

<p>Rubber prices have grown positively from early 2016, not yet showing signs of cooling down, arguably the most important factor that helped rubber exploitation businesses record such a period of victory. Accordingly, the two major rubber suppliers, Phuoc Hoa Rubber (PHR) and Dong Phu Rubber (DPR), generated such impressive results.</p>

Rubber prices have grown positively from early 2016, not yet showing signs of cooling down, arguably the most important factor that helped rubber exploitation businesses record such a period of victory. Accordingly, the two major rubber suppliers, Phuoc Hoa Rubber (PHR) and Dong Phu Rubber (DPR), generated such impressive results.

Vietnam

PetroVietnam Ca Mau Fertilizer Joint Stock Company specializes in the production, trading, and import/export of fertilizers and petroleum chemicals, primarily serving the agricultural sector. The company's main products include urea fertilizer, complex fertilizer, and biomineral fertilizers. It was founded in 2011 and is headquartered in Ca Mau, Vietnam.

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PetroVietnam Ca Mau Fertilizer (DCM VN)

Oil & Gas Sector - Lowering 2024F Oil Price, Raising 2025F Forecast

We lower our average 2024F Brent oil price assumption by 3.6% to USD80/bbl. YTD to October 3, the average Brent oil price was USD82/bbl, slightly...

Vietcap

Industry Report - Oil and Gas - Neutral - China's recovery holds key to growth

According to the International Energy Agency (IEA), global crude oil demand is forecast to increase to 103mnbd by 2mnbd (+2% YoY) in 2023.

Mirae Asset Securities

Global E&Ps: Energy Weekly Vol. 22

Oil PriceA seventh straight weekly drop for Crude Oil prices was seen last week, the longest losing streak in prices since 2015. WTI ended the week...

Aaditya Chintalapati, CFA

Average 19% YTD Gain in Key Mining Stocks

SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold...

Singapore Exchange Ltd (SGX)

Natural Rubber Industry as of Q3 2016

Rubber prices have grown positively from early 2016, not yet showing signs of cooling down, arguably the most important factor that helped rubber...

Luan Nguyen

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