Stock news on March 24: Top 1 selling goods to the US, Vietnamese queen welcomes good news

The final result of the 17th administrative review of anti-dumping tax (POR17) on frozen pangasius imported from Vietnam in the period from August 1, 2019 to July 31, 2020, Vietnam has 4 enterprises enjoy the tax rate of 0% when exporting frozen pangasius fillets to the US.

These are: Vinh Hoan Seafood (VHC), NTSF Seafood, VD TG and Navico.

In the past year, Vinh Hoan of the Western seafood queen Truong Thi Le Khanh was the enterprise with the largest export value of pangasius to the US, among more than 10 enterprises exporting this item to this market.

The US is the number 1 pangasius export market of Vietnamese enterprises. By the end of February 2022, the total value of pangasius exports to the US reached US$94.57 million, up 119.7% over the same period last year.

VHC shares of Vinh Hoan JSC recently recorded a sharp increase in liquidity with millions of shares being transferred per session and the price increased again after breaking through nearly 40% since the beginning of the year, from VND 60,000/share to VND 60,000/share. historical peak: VND 87,300/share recorded on March 23, 2022.

At this price, the capitalization of Vinh Hoan Seafood has reached nearly 16 trillion dong. Ms. Truong Thi Le Khanh holds more than 79 million shares of VHC, worth more than 6.9 trillion VND and is the 26th richest person on the Vietnamese stock market.

The situation of importing pangasius from the US.

Seafood export revenue in the first 2 months of the year increased sharply and the outlook for 2022 has recently been positive with the possibility of pangasius exports increasing when the world lacks Russian fish fillets in the context of the Ukraine war – Russia is unpredictable.

According to VASEP, in the first two months of the year, pangasius exports to China – Hong Kong reached US$85.8 million, up 239.6% over the same period in 2021, accounting for 22.3%. Pangasius exports to the CPTPP market reached 52.5 million USD, up 51.4% over the same period last year. Pangasius exports to the EU starting from 2022 have hopes again. In the first two months of this year, pangasius export value to the EU reached nearly $28 million, up nearly 76% over the same period last year.

According to VDSC, many Vietnamese seafood enterprises can make up for the shortage of fish products in the market when Russia reduces exports. Besides, the global economic recovery after the pandemic also helps the demand for seafood products increase again. The US, EU and China increased imports of seafood products. The US market continues to be expected to grow in 2022 thanks to the country’s economic stimulus packages. In Europe, this market is also positive for Vietnamese seafood enterprises thanks to the tax reduction of the EVFTA agreement.

Seafood businesses will see an increase in export revenue. Vinh Hoan’s 2022 revenue and net profit is forecasted to increase by 26% and 27% year-on-year, respectively.

Top 10 largest pangasius exporters to the US in 2021

The sharp increase in the price of pangasius recently, to 30,000 dong-32,000/share, the highest in more than 3 years is also a factor that helps VHC stock stay at historic peaks.

Many seafood enterprises with shares listed on the stock exchange can benefit from increased world demand such as: VHC, Nam Viet (ANV), IDI Company (IDI)…

Businesses in many other fields are also forecast to benefit from the opening of Vietnam’s economy and the post-pandemic world, such as VietJet Aviation (VJC), Vinaship (VNA) shipping, and Vietnam’s shipping. (VOS), Hai An Transport and Unloading (HAH), Gemadept (GMD), Vietnam Container Joint Stock Company (VSC)… Recently these stocks have increased strongly.

Haven’t broken through yet

According to BSC, stock market may continue to move sideways around 1,505 points to accumulate and gain momentum to bounce back to the resistance area of ​​1,520 points. If unsuccessful, the market might return to accumulate around 1,485 points for a few sessions because the index has gone far away from the short-term MA lines and might come back to test these lines.

SHS is optimistic about the current trend and in the trading session on March 24, VN-Index may recover to gradually narrow the gap with the next resistance level around 1,520 points (peak in February 2022). The uptrend context of VN-Index has not changed with the index still ending above the psychological level of 1,500 points as well as the support zone of 1,485-1,490 points (MA20-50).

Closing the session on March 23, the VN-Index dropped 1.44 points to 1,502.34 points. HNX-Index increased 0.75 points to 462.1 points. Upcom-Index dropped 0.22 points to 116.58 points. Liquidity reached 33.2 trillion dong, of which 28.0 trillion dong was on HOSE.

V. Ha