VCSC Daily - ETFs rebalancing takes market on a ride
Our view: Friday marked the final trading session before the FTSE Vietnam Index ETF and Van Eck Market Vector ETF apply quarterly constituent changes. We witnessed wild price swings on affected stocks. With the exception of STB, all stocks with increased weightings in the ETFs – HSG, PGD, SBT in the FTSE and BVH, HAG, VCB in the Van Eck – all advanced. The FTSE appeared more aggressive, pushing their stocks to ceiling.