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25
7月
Market commentary: Consolidation phase?
Because of selling pressure at the high level, the downtrend is still dominant in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
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25
7月
Chart of the day: Support at 1,150-pts zone
Although some bullish signals appear, the downtrend is dominant in the short term. Hence, we need more confirmation signals to define a new uptrend.
22
7月
Market commentary: Attention on Banking
Despite the third recovery, the downtrend is still intact in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
21
7月
Market commentary: Bullish trend?
Despite the second recovery, the downtrend is still dominant in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
20
7月
Market commentary: Energy in the spotlight
Despite the recovery, the downtrend is still dominant in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
20
7月
ETF Review: Local ETFs buy VIB, SHB, and ACB the most
HoSE announced new constituents of the VN30Index and VNFIN LEAD Index last Monday. Accordingly, the VN30Index will add VIB and remove PNJ in the 2H22 review. Besides, the VNFIN LEAD Index will include HCM and SHB and not remove any tickers.
19
7月
Market commentary: Second consolidation session?
The downtrend is dominant in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
18
7月
Chart of the day: The bearish swing is still active
The downtrend is still active and demand could not fade the current selling pressure. In this case, investors should decrease the current positions on leading stocks and wait for more accurate trading signal which would come after the volatile period.
15
7月
Market commentary: Close at the high
The VNIndex shows some bullish signals, however, the selling pressure still appears at a high level. That means the downtrend is dominant in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
14
7月
ETF Review: VN30 Index adds VIB and removes PNJ
In this quarterly review, the VN30Index is expected to add VIB and remove PNJ. We expect the E1VFVN30 ETF to buy VIB, MBB, and VPB the most with 6.6 million shares, 3.4 million shares, and 2.9 million shares, respectively. On the sell side, SSI and MWG will be sold heavily with 3.8 million shares and 2.7 million shares.
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.