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

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Vietnam Technological & Commer / Equity Bottom-Up

<p>Buy (Maintain) Upside: Vietnam Technological and Commercial JSB (TCB VN)</p><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>

Buy (Maintain) Upside: Vietnam Technological and Commercial JSB (TCB VN)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.

Vietnam Technological and Commercial JSB (TCB VN/BUY): Making progress on diluting concentration risks

P/E (21F, x) 10.3 52-week low (VND) 21,400<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>

P/E (21F, x) 10.3 52-week low (VND) 21,400Content 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.

Vietnam Technological and Commercial JSB (TCB VN/BUY)

Thematic (Sector/Industry)

<p><strong>Another rate cut could come in handy</strong>: In order to mitigate the effects of the pandemic, the State Bank of Vietnam (SBV) has conducted three central rate cuts totalling more than 150bps for all tenors.</p>

Another rate cut could come in handy: In order to mitigate the effects of the pandemic, the State Bank of Vietnam (SBV) has conducted three central rate cuts totalling more than 150bps for all tenors.

Vietnam Banking Industry 2021 Outlook: Challenges Ahead

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Vietnam Maritime Commercial Joint Stock Bank / Equity Bottom-Up

Vietnam Maritime Commercial Joint Stock Bank

<p>There are few banks anywhere reporting strong margins or better net interest income, with Vietnam as the most stand out exception. One bank that is relatively unknown, is seeing some of the best profit expansion, and it does not appear to have run its course.</p>

There are few banks anywhere reporting strong margins or better net interest income, with Vietnam as the most stand out exception. One bank that is relatively unknown, is seeing some of the best profit expansion, and it does not appear to have run its course.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>We continue to be encouraged by market dynamics that are supportive of an ongoing equity bull market. Additionally, there continues to be an absence of breakdowns on the major global indexes (MSCI ACWI, ACWI ex-US, EM, &amp; EAFE). As a result, our outlook remains bullish.  In this report we show some love to various Sectors that have not been big attention-grabbers for us in recent months, but still have plenty of attractive stocks. The stocks highlighted hail from a variety of countries. Sectors covered include <strong>Services, Communications, Staples, Financials, and Utilities</strong>.</p>

We continue to be encouraged by market dynamics that are supportive of an ongoing equity bull market. Additionally, there continues to be an absence of breakdowns on the major global indexes (MSCI ACWI, ACWI ex-US, EM, &amp; EAFE). As a result, our outlook remains bullish.  In this report we show some love to various Sectors that have not been big attention-grabbers for us in recent months, but still have plenty of attractive stocks. The stocks highlighted hail from a variety of countries. Sectors covered include Services, Communications, Staples, Financials, and Utilities.

Global Equity Strategy: Market Dynamics Remain Positive, And So Are We

Vietnam

Vietnam Technological and Commercial Joint-stock Bank, doing business as Techcombank, provides banking services. The Bank offers savings, deposits, loans, credit cards, monetary management, trade finance, international payment, and foreign exchange services. Techcombank serves individuals, corporates, and the government sectors in Vietnam.

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Vietnam Technological & Commer (TCB VN)

Vietnam Technological and Commercial JSB (TCB VN/BUY): Making progress on diluting concentration risks

Buy (Maintain) Upside: Vietnam Technological and Commercial JSB (TCB VN)

Mirae Asset Securities

Vietnam Technological and Commercial JSB (TCB VN/BUY)

P/E (21F, x) 10.3 52-week low (VND) 21,400

Mirae Asset Securities

Vietnam Banking Industry 2021 Outlook: Challenges Ahead

Another rate cut could come in handy: In order to mitigate the effects of the pandemic, the State Bank of Vietnam (SBV) has conducted three central...

Mirae Asset Securities

Vietnam – Transformational Profit

Ongoing transformation at this bank, away from term deposits, toward consumer loans, with better ALM and improved credit metrics, can see an...

Daniel Tabbush

Global Equity Strategy: Market Dynamics Remain Positive, And So Are We

We show some love to various Sectors that have not been big attention-grabbers for us in recent months, including Services, Communications,...

Vermilion Research

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