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25
5月
Market commentary: Bottom fishing
Despite the recovery, the downside risk is still intact in the short term. That means the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
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25
5月
Fundflow 16-20 May: Inflow across Vietnam reaches the all-time high
Market ended up to be net sold but selling pressure was not strong. Selling activity has turned around to be absorbed the most by Financials, Real Estate, and Materials whilst demand kept focusing on Consumer Staples. With ETF flow, money inflow across Vietnam reached the all-time high. Net inflow was USD115mn. The positive flow of money was mainly absorbed by VFMVN Diamond and Fubon FTSE Vietnam.
24
5月
Market commentary: Cash flows into Energy stocks
Based on the sharp contraction, the downside risk is still intact in the short term. That means the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
23
5月
Market commentary: Banking in the spotlight
The downside risk is still intact in the short term due to low liquidity. That means the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
23
5月
Chart of the day: The medium-term demand zone is approached
The downtrend is active and the current rebound phase is not strong enough to fade the selling pressure above which means volatility level would increase in upcoming sessions. 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.
20
5月
Market commentary: Intraday rebound
Despite the bullish market in the short term, the liquidity is still low level, implying the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
19
5月
Market commentary: Resume uptrend
Despite the bullish trend, the liquidity is still low level, implying the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
18
5月
Market commentary: Market jumps more than 4%
After the strong recovery, the market sentiment has become optimistic. However, the liquidity is still low level, implying the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
17
5月
Market commentary: Energy in the spotlight
Market sentiment has become still pessimistic in the short term because of the bearish market. Therefore, traders should wait for the next signals and stay on the sidelines.
16
5月
Market commentary: New low
Based on the second crash, market sentiment has become pessimistic. Therefore, the downside risk is still intact due to high volatility. Traders should wait for the next signals and stay on the sidelines.
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.