05
7月
Based on the contraction, the downside risk is still in the short term. Therefore, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
05
7月
Market ended up to be net bought. Demand was mainly attracted by Financials and Industrials whilst selling activity was absorbed the most by Materials, Consumer Staples and Real Estate. With ETF flow, money inflow across Vietnam dropped. Net inflow was USD5mn. The positive flow of money was mainly driven by the demand on VFMVN Diamond and Fubon FTSE.
04
7月
Because downside risk is still in the short term, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
04
7月
Although the 1,200 pts zone is still held, the downtrend is still active. In this case, investors should decrease the current positions on leading stocks and wait for more accurate trading signal which would come after the demand accumulation phase.
01
7月
Based on the contraction, down side risk is still in the short term. Therefore, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
30
6月
Market sentiment has become cautious due to profit-taking. Therefore, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
29
6月
Despite the recovery, the downside risk is still intact because of low liquidity. Therefore, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
29
6月
Market ended up to be net bought. Demand was mainly attracted by Consumer Staples, Industrials, and Utilities whilst selling activity was absorbed the most by Materials, Real Estates, and Consumer Discretionary. With ETF flow, money inflow across Vietnam came back to normal level. Net inflow was USD21mn. The positive flow of money was mainly driven by Fubon FTSE Vietnam and VFMVN Diamond.
28
6月
The VNIndex shows some bullish signals as it crosses the 10-period moving average going up. Besides, traders should watch the double bottom pattern as levels of two last bottoms are the same. However, the downside risk is still intact because of low liquidity. Therefore, traders should stay on the sidelines and wait for the next signal.
27
6月
The downtrend is dominant in the short term as the VNIndex continues to close below the 10- and 20-period moving average. Therefore, traders should reduce long positions and wait for the next signal.
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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