The afternoon session on April 18 marked a sharp drop in SAB's shares in Saigon Beer Alcohol and Beverage Corporation (Sabeco). This code "collapsed" at the end of the session, lost to VND 15,800, equivalent to 6.4% and retreated to VND 231,000 and thus erased the achievements in the last 3 months. Immediately, the SAB's 10,132 billion VND was immediately "evaporated."
Sabeco has just completed the first annual General Shareholders' Meeting coordinated by Thai leaders. Here, said Sabeco leader, this brewery aims to increase 6.3% of production, higher than the 5% growth rate of the whole market and consequently increase market share in Vietnam, although However, the market share of Sabeco is not as important as the leadership and development of the market.
Sabeco's leaders also said that the Vietnamese market is a "diamond" that has not been fully perfected, growth potential is still high, so Sabeco's sales in Vietnam will increase.
In a recently announced updated report, analysts at Bao Viet Securities (BVSC) said that in a horizontal comparison, P / E 2019 up 33.2 times showed that SAB seems expensive compared to pairs like MSN and VNM in the However, BVSC is still impressed by the transformation of Sabeco since the participation of ThaiBev, although it is less than 1 year.
Therefore, the BVSC considers Sabeco an interesting story and will receive a lot of attention from investors as it is still the leading brand in the Vietnamese beer market – one of the largest beer markets. the world.
At Sabeco, investors still expect the comprehensive restructuring of ThaiBev to help the company improve significantly in the future. At the same time, it does not exclude the possibility that the remaining 36% of the State's capital will be disposed of in the future.
And what to say, the SAB is a large capitalization share, contributing significantly to the VN30 stock basket – a destination of the external cash flow. The impact of this code on the VN-Index in recent sessions also showed that despite the share structure in SAB, it is still very concentrated, with 89.59% of the shares already in Vietnam Beverage and the Ministry of Industry and Commerce. The proportion of freely traded shares in the trading floor is quite low.
In session 18/4, with the reduction of almost the above-mentioned floor, the SAB withdrew the VN index to 3.08 points, which has the most negative impact on the index. Along with the decline in prices in VIC, VHM, MSN, GAS, the VN index lost 9.8 points or 1.01% to 962.3 points in this session. Meanwhile, in the trading session in Hanoi, the index fell 0.68 points or 0.64% to 105.75 points.
Liquidity was not activated during this session. The volume traded at HSX stood at 160.38 million shares, equivalent to VND 3,228.16 billion and HNX was 31.33 million shares, equivalent to VND350.87 billion.
According to VDSC analysts, the market continued to fall sharply on the maturity date of the T3 / 2019 derivative contract, which is quite similar to the recent maturity session movements. The VN-Index temporarily lost its strong support level of 965 points. Small and medium stocks continued to suffer from strong profit pressures. Investors are advised to continue to hold cash in the short term.
Meanwhile, the BVSC believes that the market is facing the risk of falling to deeper support areas in the coming time, when the 964-point level has been broken.
If the VN index can not beat 964-968 in the last session of the week, the VN index may continue to fall to the strongest support at 940-950 points in the coming sessions. Here, the BVSC expects the market to rebound.
Sales pressure is likely to continue to increase in many stocks in the short term. Therefore, according to the BVSC, in this period, investors continue to consider the stock rate reduction for a low average of 20-30% of inventories.
Investors have a proportion of stocks that exceed the level of equilibrium, so they should take advantage of the market recovery periods to sell to reduce the ratio. New disbursement activities should be minimized when the market still has many potential risks in that period.