20160118_BSC_Vietnam Sector Outlook_EN_2016_Part1_Public

We had commented, " Please note that Real estate and Bank are likely to lead VNIndex in 2015, replacing Oil and Gas position”. In fact, at the beginning the year, the banking sector had strong increase, totaled 12.1% in 2015. terms of capitalization, the banking sector was the largest group with the leading role. The proportion of the banking group's capitalization (VCB - CTG - BID - STB - EIB - MBB) increased from 22.85% (05.01.2015) to 27.55% (29.12.2015), in which VCB is the 2nd largest, accounting for 10.28% of total market capitalization.

In 2015, our recommendation and notice stocks witnessed average growth of 25.23%. If only calculated stocks recommended in Report in early 2015, average growth was 11.9%, still higher than VN-Index return of 6.1%.

In our recommendation list, ITD witnessed the most significant growth at 116.05%. Besides, there were total 14 stocks with growth over 50%, mainly among stocks in IT, Bank, Seaport and Insurance sectors. These were sectors and stocks BSC recommended during the year. Furthermore, in 56 stocks noticed by BSC, there were 19 with minus return in 2015. PVS and PXS had the largest losses due to oil’s downtrend price.