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Tiếng Việt
02
12月
Market commentary: Consolidation phase?
Desipte the contraction, the VNIndex confirms the short-term uptrend as the index closes above the 1,000-pts threshold. Therefore, traders may hold a long position on leading stocks.
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15
11月
Chart of the day: A new trough
The VNIndex’s downtrend is dominant in the short term as the new bottom is below the 1,000-pts threshold.
15
11月
Fundflow 04-11 Nov: Massive demand across Vietnam’s major ETFs
Market ended up to be net bought. Real Estate, Financials, and Consumer Staples, focusing on KDH, VHM, SSI, VND, BID, DGC, and VNM. With ETF flow, inflow remained at Vietnam. Net inflow was USD76mn. The positive flow of money was mainly driven by the strong demand on Fubon.
15
11月
Retail – Note – Nonrated – Christmas is coming to town
Revenue of ICT/Jewelry/Automobile/Airport retailers in 3Q22 respectively surged by 35.3%/700%/176%/700% yoy driven by the recover from extreme closure during the lockdown in 3Q21. Retailers and retail lessors are hectic preparing for the largest sale season in the year, including the Single Day 11/11, Black Friday 25/11 and Christmas 24/12.
15
11月
Market commentary: Selling pressure on Energy
The downtrend is dominant in the short term as the VNIndex closes the 1,000-pts threshold. Therefore, traders should stay on the sideline and wait for the next signals.
14
11月
Market commentary: Banking in the spotlight
Despite the rebound, the downtrend is dominant in the short term. Therefore, traders should stay on the sideline and wait for the next signals.
10
11月
Market commentary: Retest 1,000-pts threshold
Despite the recovery, the downtrend is dominant in the short term as the VNIndex forms a new bottom. Therefore, traders should stay on the sideline and wait for the next signals.
09
11月
Market commentary: Intraday rebound
Despite the recovery, the short-term downtrend is dominant as the VNIndex forms a new bottom. Therefore, traders should stay on the sideline and wait for the next signals.
08
11月
Market commentary: Retest last bottom
The short-term downtrend is dominant as the VNIndex retests last bottom. Therefore, traders should stay on the sideline and wait for the next signals.
08
11月
Fundflow 31 Oct-04 Nov: Inflow surged
Foreign selling pressure cooled. Net sell value was USD22mn. Selling activity was mainly absorbed by Materials, Financials, and Real Estate, focusing on HPG, KBC, VIC, and HDB whilst demand concentrated the most on FUESSVFL and such sectors as Consumer Staples and Real Estate, mainly driven by large buy orders on VNM, DGC, VHM and KDH. With ETF flow, inflow surged at Vietnam. Net inflow was USD32mn. The positive flow of money was mainly driven by the strong demand on Finlead, Diamond and Fubon.
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.