17
7月
The stock market has 6th consecutive increase session with high liquidity. Additionally, the market appears to demand at lower price levels, indicating positive signals. However, the downside risk may present around the 1,180-1,200 pts zone. Therefore, investors should hold long positions and wait for the next signal.
14
7月
In this quarterly review, the VN30Index is expected to add SSB and SHB, while remove NVL and PDR. We expect the local ETFs, which use the VN30Index as a benchmark index, to buy SHB and SSB the most with 18.6 million shares and 13.9 million shares. On the sell side, NVL and VPB will be sold heavily with 9.0 million shares and 3.5 million shares.
14
7月
The stock market remains to gain and surpasses the 1,150-1,160 pts zone which is the significant support zone in the downtrend in 2022. However, this is also the goal point of the rectangle pattern that form before. Therefore, investors should hold a long position and wait for the next signal.
13
7月
The stock market still shows positive signals, as the VNIndex remains to increase and ends above the 10-period moving average. Therefore, investors should open long positions.
11
7月
Fundflow 03-07 Jul: Outflow starts to decrease
11
7月
The stock market remains to increase strongly with still improved liquidity in the session. Furthermore, the VNIndex successfully surpasses the significant resistance level of 1,140-pts, showing a bullish signal. Therefore, investors should open long positions.
07
7月
Although the market significantly decreases, the VNIndex remains above important resistance levels, such as 1,120-pts and 1,100-pts. The uptrend is still positive, however, more signals are needed to confirm. Therefore, investors should hold a long position and wait for the next signals.
06
7月
The market maintains an uptrend with the VNIndex closes above the 10-period moving average, showing positive signals. In the short term, this index has tested the 1,140-pts threshold. Therefore, investors should hold a long position and wait for the next signals.
05
7月
The market maintains an uptrend with improved liquidity, shows positive signals. In the short term, the VNIndex has tested the 1,140-pts threshold. Therefore, investors should hold a long position and wait for the next signals.
04
7月
Outflow across ETFs in Vietnam came back, recorded at USD8mn. In general, the flow of money across Vietnam is weak in the previous week. Therefore, there is a high probability for outflow to still be present in the upcoming weeks.
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.
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