30
9月
Daily derivatives: Bearish swing is still strong
The captured short positions on VN30F2210 should be held and stop the loss only when there is the closing price above 1,250 pts level. (Hourly chart)
30
9月
The captured short positions on VN30F2210 should be held and stop the loss only when there is the closing price above 1,250 pts level. (Hourly chart)
28
9月
The captured short positions on VN30F2210 should be held and stop the loss only when there is the closing price above 1,250 pts level. (Hourly chart)
26
9月
The captured short positions on VN30F2210 should be held and stop the loss only when there is the closing price above 1,250 pts level. (Hourly chart)
20
9月
Short positions on VN30F2210 should be held and stop the loss when there is the closing price above 1,260 pts level. (Hourly chart)
16
9月
Last week, trading activity came back to normal level. With foreign trading activity, foreign trading activity ticked up. However, selling pressure overwhelmed market demand. Net sell value was VND4.7bn, a 5-month high. By underlying asset, covered warrants which have STB, FPT, and HPG as the underlying asset kept absorbing the highest trading value from both domestic and foreigners. Notably, foreign investors placed large sell order on STB’s CW, driving by the strong divestment on CSTB2211 (-22.0%) and CSTB2215 (-14.6%).
16
9月
Short VN30F2210 when there is the breakdown at 1,250 pts level and stop the loss when there is the closing price below 1,280 pts level. (Hourly chart)
15
9月
VN30F2209 would be expired on this trading date. Thus, traders should stay on the sidelines and wait for the trading point on upcoming contract.
12
9月
Long VN30F2209 if there is the breakout at 1,300 pts zone, stop the loss if there is the closing price below 1,280 pts level. (Hourly chart)
09
9月
Although there is the sharp decline, VN30F2209 keeps respecting the range bound as well as the demand zone is approached. If the range is held, trading point would be invalid. In this case, traders should stay on the sidelines and wait for accurate trading point.
08
9月
Although there is the sharp decline, VN30F2209 keeps respecting the range bound. If the range is held, trading point would be invalid. In this case, traders should stay on the sidelines and wait for accurate trading point.
24
8月
U.S July Retail sales and Vietnam T&G exports According to the latest data from the U.S. Census Bureau, retail sales in the U.S. increased by 0.7% MoM in July of 2023, marking a fourth consecutive rise, and beating market forecasts of a 0.4% increase. In more detail, US clothing store sales grew 1.34% YoY in July, slightly decelerated from 2.69% in June, but remain higher than the one-year slowest growth of 0.32% in April. The potential upturn in US clothing sales, given a relatively strong correlation with Vietnam T&G exports, subsequently benefiting this export sector in the latter half of 2023.
02
8月
July’s data revealed a substantial improvement in economic activities with a softer decline in export turnover, an improving industrial production, and a renewed acceleration in retail sales. On one hand, U.S. consumers tend to regain their confidence during the late phase of the global interest rate hike, fastening the resolution of the overstocking and consequently promoting Vietnam’s export activities. On the other hand, retail sales recorded a higher growth rate than in June coupled with moderate inflation after a series of easing fiscal policies, likely reflecting an expanding demand. We predict economic performance to improve further next month due to softening external headwinds and expanding domestic demand.
28
7月
Although the economic performance picked up in 2Q23 in the late stage of the global interest rate hike, we believe that the acceleration of economic activities will need more time to be material due to the insignificant improvement of external factors and the weakening recovery in domestic consumption. On the upside, public investment will continue to be a spotlight in 3Q23 thanks to the government's effort in realizing the significantly higher workload than last year. In addition, the well-controlled inflation and stable exchange rate provide more space for the monetary authority to follow the easing tendency in the next quarter.
13
7月
Although the economic performance picked up in 2Q23 in the late stage of the global interest rate hike, we believe that the acceleration of economic activities will need more time to be material due to the insignificant improvement of external factors and the weakening recovery in domestic consumption. On the upside, public investment will continue to be a spotlight in 3Q23 thanks to the government's effort in realizing the significantly higher workload than last year. Investment opportunities exist in Power and Agriculture, Seafood industries that backed by El-Nino and China consumption themes. Besides, crushed stone industry also offers a lucrative choice from 3Q23 for those investors seeking for rising public spending theme. We expect the target range for VNIndex in 2H23 to be 1,260-1,340 points.
30
6月
GSO’s June report shows a slight acceleration in economic performance for the second quarter of 2023. Although the economic growth surpassed the downgraded market assessment, it is far from the expected value in the eco-socio tasks. For the latest update in June, export activities deteriorated under the persistent slowdown in the consumption of Vietnam’s major trading partners, showing challenges for the economy to speed up. Regarding domestic factors, the recovery momentum in post-pandemic exhausted with retail sales much lower than the potential level. In the short term, we predict public investment will mainly support economic growth before material improvement in external factors occurs.