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20
6月
Daily derivatives: Retesting 1,200 pts zone
Selling pressure is still strong and demand is not strong enough to faded current bearish swing. In this case, traders should stay on the sidelines and wait for more accurate trading signal.
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17
6月
Daily derivatives: Approaching the solid sell zone
The selling pressure near 1,300 pts zone needs more time to be absorbed and the instrument could not pierce this zone on this trading day. In this case, traders should stay on the sidelines and wait for more accurate trading signal.
16
6月
Daily derivatives: Expiration date
VN30F2207 is traded with the lower price than VN30F2206, implying the pessimistic market sentiment. In this case, traders should stay on the sidelines and wait for the reaction of this instrument near 1,200 pts area.
14
6月
Covered warrant 06-10 Jun: Trading activity focuses on CW of POW
Last week, trading activity across the covered warrant market remained at normal level. With foreign trading activity, the market kept ending up to be net sold. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 9 consecutive weeks. Besides, covered warrants of POW also absorbed the trading interest across the market.
14
6月
Daily derivatives: Bearish extension phase
In this case, traders should stay on the sidelines and wait for the reaction of this instrument near 1,200 pts area.
13
6月
Daily derivatives: The range is still respected
Long position on VN30F2206 should be held and stop the loss when there is the closing price below 1,270 pts level. (Hourly chart)
10
6月
Daily derivatives: Heading to the selling zone
Long position on VN30F2206 should be held and stop the loss when there is the closing price below 1,270 pts level. (Hourly chart)
09
6月
Daily derivatives: Demand comes back
Long position on VN30F2206 should be held and stop the loss when there is the closing price below 1,270 pts level. (Hourly chart)
07
6月
Covered warrant 27 May-03 Jun: FPT, MWG, and HPG are top 3 underlying assets
Last week, trading activity slowed down across the covered warrant market. With foreign trading activity, the market kept ending up to be net with the increase in selling activity. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 8 consecutive weeks, mainly driven by CFPT2203 (9.4%).
07
6月
Daily derivatives: Flat movement
Long position on VN30F2206 should be held and stop the loss when there is the closing price below 1,270 pts level. (Hourly chart)
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.