28
9月
In the short term, the VNIndex closes below the 1,200-pts threshold, implying the confirmation for the bearish market. Therefore, traders should reduce long positions and wait for the next signals.
26
9月
In the short term, the downtrend of the VNIndex is still intact because the VNIndex closes below the significant moving average. Therefore, traders should reduce long positions and wait for the next signals.
20
9月
Market ended up to be net sold. Supply mainly spread to Financials, Industrials, and Real Estate whilst demand was mainly absorbed by Energy, Consumer Discretionary, and Consumer Staples. With ETF flow, inflow has come back to Vietnam after experiencing three consecutive weeks of outflow. The inflow was mainly driven by the slowdown of outflow on VFMVN Diamond as well as demand also spread to other major ETFs.
20
9月
The bearish trend is dominant in the short term because the breakdown occurs last week. In this case, investors should reduce long positions and wait for the next signals.
20
9月
Based on the strong loss, the downtrend of the VNIndex is still intact in the short term. Besides, the VNIndex closes below significant moving averages. Therefore, traders should reduce long positions and wait for the next signals.
16
9月
Market ended up to be net sold. Supply mainly spread to Financials, Real Estate, and Industrials whilst demand was mainly absorbed by Energy and Consumer Staples. With ETF flow, Vietnam was divested. However, the divestment was not significant and the outflow was mainly driven by the selling pressure on VFMVN30 and VFMVN Diamond.
16
9月
Desipte the recovery, the VNIndex closes below the the 1,250-pts threshold, implying a short-term downtrend. Therefore, traders should reduce long positions and wait for the next signals.
16
9月
Based on data as of 12 Sep 2022, we expect that foreign ETFs will sell HPG and STB the most with 16 million shares and 13 million shares. On the buy-side, VND, VNM, and NVL will be bought heavily with 8.2 million shares, 4.9 million shares, and 4.4 million shares.
12
9月
Despite the recovery, the VNIndex still closes below the 1,250-pts threshold. That means the index shows the bearish signals. Therefore, traders should reduce long positions and wait for next signals.
12
9月
The 1,250 pts area is retested with the increase of demand. In this case, investors could increase the current position on leading stocks. However, margin level should be kept at low level due to the existence medium-term downtrend.
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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