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Exchange-traded funds (ETFs) on Việt Nam's stock market have net attracted a total of US$130 million so far this year. Photo cafef.vn HÀ NỘI — Exchange-traded funds (ETFs) on Việt Nam's stock market have attracted a net total of US$130 million so far this year. Capital inflows into ETFs from the beginning of the year have made an important contribution to help offset the net selling from foreign investors, valued at more than VNĐ2.7 trillion ($117.1 million). Among the ETFs, VFMVN Diamond ETF attracted the largest capital since the beginning of the year with $113.7 million. With a current portfolio size of nearly VNĐ9 trillion, VFMVN Diamond ETF has surpassed VFMVN30 ETF to become the largest domestic fund in the market. Besides VFMVN Diamond ETF, the pair of foreign ETF funds VNM ETF and FTSE Vietnam ETF also attracted a total net value of about $30 million. On the other side, KIM Kindex VN30 ETF saw a strong net recession of nearly $52 million, equivalent to VNĐ1.2 trillion and was the only ETF witnessing net withdrawal in the first two months of the year. In the last trading week of February, ETFs on Việt Nam's stock market saw strong net withdrawal. VFMVN30 ETF was the fund seeing the strongest withdrawal, with VNĐ345 billion. Another ETF that also saw withdrawal was KIM Kindex VN30 ETF, with a value of $4.53 million in the past week. In the opposite direction, VFMVN Diamond ETF net attracted VNĐ112 billion in the past week. Besides, SSIAM VNFinLead ETF also net attracted VNĐ7.6 billion, S&P Select Frontier ETF net attracted nearly $1 million. — VNS …

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Pharmaceutical sector riding high on back of pandemic. Source: freepik.com Swiss pharma giant Novartis delivered a solid performance in 2020 across strategic priorities. Net sales reached over $48 billion in the fiscal year, up 2.5 per cent on-year. Its core net income hit $13.15 billion, up 8.67 per cent. Novartis CEO Vas Narasimhan said, “Operationally, we grew sales and continued to improve core operating margins for innovative medicines. We advanced our next wave of medicines, achieving a number of new approvals highlighted by Kesimpta in the US, and Leqvio and Zolgensma in the EU, and progressed our broad and deep mid-stage pipeline of first-in-class medicines.” Last year Novartis continued to focus on its status as a leading medicines company powered by advanced therapy platforms and data science. It also continued to advance transformative innovation for patients, including treatments for hyperlipidemia and multiple sclerosis. Coronavirus-related lockdowns in several areas negatively impacted particular therapeutic areas such as ophthalmology, dermatology, and the Sandoz retail business. However, the group’s operations remain stable and cash collections continue according to normal trade terms, with daily sales outstanding at normal levels. Operationally, solid sales growth, improved gross margins, and productivity including lower spending drove double-digit growth in core operating income. The innovative medicines segment core margin increased by 2.2 percentage points to 35 per cent of sales, and Novartis expects this margin to improve in the midterm. Meanwhile, French multinational pharma company Sanofi saw sales increase 3.3 per cent to just over €36 billion ($43.78 billion) in full-year performance, driven by Dupixent and vaccines. Business earnings per share (EPS) was €5.86 ($7.13), up 3.9 per cent on a reported basis and 9.2 per cent at constant exchange rates (CER), ahead of the guidance of 7-8 per cent. Sanofi CEO Paul Hudson …

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The results were contributed by recovered domestic consumption and steel export benefits. In the stock market, the shares of listed firms witnessed strong growth, such as Hoa Phat Group (HPG) up 114 per cent, Hoa Sen Group (HSG) up 193 per cent, and Nam Kim Steel (NKG) up 122 per cent at the end of the year (see chart). For the galvanised steel industry, it was difficult for any business 6-8 months ago to imagine the price of hot rolled coil reaching $700 per tonne in 2020, especially when prices plunged just before then. Hoa Sen and Nam Kim reported strong growth in this area too, while Hoa Phat continues to firmly build a leading position in the construction steel segment with market share increasing to 32.5 per cent in 2020. The company achieved net revenues of nearly VND91.3 trillion in 2020 ($4 billion) and a record net profit of VND13.5 trillion ($587 million). Vietnam-Italy Steel JSC (VIS) returned to profit after two years of heavy losses. Steel trading companies such as SMC Commercial Investment (SMC) and Tien Len Steel (TLH) simultaneously reported big profits in the last quarter of 2020 thanks to favourable changes in steel prices, thereby ending a year of success. As the only company in the industry that owns a distribution network of hundreds of points across the country, Hoa Sen plans to expand its business product portfolio through the development of a home furniture and building materials retail chain with a strategic partner. At its January annual general meeting, Hoa Sen chairman Le Phuoc Vu said that the group will no longer be a mere manufacturing enterprise, but move towards becoming a distributor of building materials and interior decoration items. While it would continue to produce the same items, it would not expand production capacity but instead invest in opening new Hoa Sen home stores and upgrading existing ones. The group is expected to reach VND33 trillion ($1.43 billion) in revenues this year and post-tax profits of VND1.5 …

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