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01
7月
Daily derivatives: Approaching the demand zone
Long VN30F2207 at 1,240 pts area and stop the loss when there is the closing price below 1,220 pts level. (Hourly chart)
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30
6月
Daily derivatives: Chasing the bullish swing in the bear market
Long VN30F2207 at 1,240 pts area and stop the loss when there is the closing price below 1,220 pts level. (Hourly chart)
29
6月
Covered warrant 20-24 Jun: Trading activity keeps increasing
Last week, trading activity kept increasing across the covered warrant market. With foreign trading activity, the market kept ending up to be net sold. Net sell value was VND3bn, 10 times higher than the previous week. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 2 consecutive months, mainly driven by CFPT2203(-33%).
29
6月
Daily derivatives: Heading to 1,280 pts area
Long VN30F2207 at 1,240 pts area and stop the loss when there is the closing price below 1,220 pts level. (Hourly chart)
28
6月
Daily derivatives: Solid bottom is forming
Long VN30F2207 at 1,230 pts area, set 1,280 pts zone as the profit target and stop the loss when there is the closing price below 1,220 pts level. (Hourly chart)
27
6月
Daily derivatives: Demand is still weak
Although the 1,200 pts area is still respected, the probability for breaking this area is still high due to the solid selling pressure above. In this case, traders should stay on the sidelines and wait for the bottom forming signal.
24
6月
Daily derivatives: Approaching the solid sell zone
Although the 1,200 pts area is still respected, the probability for breaking this area is still high due to the solid selling pressure above. In this case, traders should stay on the sidelines and wait for the bottom forming signal.
22
6月
Daily derivatives: Volatility surges near the market trough
Selling pressure is still strong and the rebound phase has low probability to extend. In this case, traders should stay on the sidelines and wait for the bottom forming signal.
22
6月
Covered warrant 13-17 Jun: Trading activity is improved
Last week, trading activity increased across the covered warrant market. With foreign trading activity, the market kept ending up to be net sold, selling and buying activity dropped, down 30% WoW. Net sell value was VND0.42bn, down 65% WoW. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 10 consecutive weeks.
21
6月
Daily derivatives: Bearish momentum shows no sign of weakness
Selling pressure is still strong and the rebound phase could not occur. In this case, traders should stay on the sidelines and wait for the bottom forming signal.
Featured Articles
24
8月
U.S July Retail sales and Vietnam T&G exports
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
An improved economic performance amidst easing external headwinds
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
Vietnam’s economy: gaining momentum
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
3Q23 Strategic Insight: Embrace the opportunity
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
Slight pickup amidst persistent global challenges
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.