19
4月
Market commentary: Slight recovery
Despite the second recovery, the downside risk is still intact because of high selling pressure at a high level. Hence, traders should be careful if the market still shows negative signals.
19
4月
Despite the second recovery, the downside risk is still intact because of high selling pressure at a high level. Hence, traders should be careful if the market still shows negative signals.
17
4月
The downside risk is still intact because of the sharp losing session. Hence, traders should be careful if the market still shows negative signals.
17
4月
Selling pressure near 1,080 pts zone is active. The rebound phase could be faded. Therefore, investors should stay on the sidelines and wait for the reaction of the Index near 1,050 pts zone.
14
4月
In this quarterly review, the VN DIAMOND Index is expected to remove EIB. The results will be announced on 17 Apr 2023, the new weight will be effective on 04 May 2023.
14
4月
The VNIndex shows downside risks due to the losing session. Notably, the index closes below the 10-period moving average. That means the signals lose consensus. Hence, traders should be careful if the market still shows negative signals.
13
4月
The VNIndex shows downside risks due to cautious sentiment. Notably, the index closes below the 10-period moving average. That means the signals lose consensus. Hence, traders should be careful if the market still shows negative signals.
12
4月
Despite the rebound, the VNIndex shows downside risks. Notably, the index closes below the 10-period moving average. That means the signals lose consensus. Hence, traders should be careful if the market still shows negative signals.
11
4月
Foreign demand slowed down whilst selling pressure stayed at high level, pushing the market to ended up to be net sold. Net sell value was USD33mn. With ETF flow, outflow was active across Vietnam, ending the 4 consecutive weeks of inflow. Outflow was USD2mn. Notably, outflow has spread among major ETFs and demand on Fubon ETF was paused. There is still not a good sign for the stable inflow and outflow could be active in upcoming weeks.
11
4月
Based on the third losing session, the VNIndex shows downside risks. Notably, the index closes below the 10-period moving average. That means the signals lose consensus. Hence, traders should be careful if the market still shows negative signals.
10
4月
Based on the second losing session, the VNIndex shows downside risks in the short term. The signals lose consensus. Hence, traders should be careful if the market still shows negative signals.
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.