17
10月
Despite the three gaining sessions, the downtrend is dominant in the short term due to low liquidity. Besides, the selling pressure is still intact at high level. Therefore, traders should stay on the sideline and wait for the next signals.
17
10月
In this quarterly review, the VN DIAMOND Index is expected to add NLG and remove TCM. Based on data as of 12 Oct 2022, we expect local ETFs to buy VPB the most with a value of 22.6 million shares. On the sell side, ACB will be sold heavily with 9.4 million shares.
13
10月
Despite the recovery, the downtrend is dominant in the short term due to low liquidity. That means the gaining session may be a bull trap. Therefore, traders should stay on the sideline and wait for the next signals.
11
10月
Despite the recovery, the downtrend is dominant in the short term as the VNIndex closes below some significant threshold such as 1,100 pts. Therefore, traders should reduce long positions and wait for the next signals.
06
10月
Despite a strong recovery, the market sentiment is still cautious in the short term as the VNIndex closes below the 1,150-pts threshold. Therefore, traders should reduce long positions and wait for the next signals.
04
10月
The VNIndex crosses down the 1,100-pts threshold, implying a downtrend. Besides, the market sentiment has become pessimistic. Therefore, traders should reduce long positions and wait for the next signals.
03
10月
The VNIndex continued to go down for the fourth losing week in a row due to high selling pressure. The bearish trend is dominant in the short and medium term because of pessimistic sentiment. In this case, investors should reduce long positions and wait for the next signals.
03
10月
Although the recovery, the downtrend is confirmed due to low liquidity. Therefore, traders should reduce long positions and wait for the next signals.
30
9月
In the short term, the VNIndex shows a new bottom because of pessimistic sentiment. That means the downtrend is confirmed. Therefore, traders should reduce long positions and wait for the next signals.
29
9月
In the short term, the VNIndex retests the last bottom on July with high selling pressure. That means the VNIndex shows the pull back. However, the downtrend is confirmed. Therefore, traders should reduce long positions and wait for the next 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.
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