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16
5月
Chart of the day: Bearish market
The VNIndex confirmed the downtrend due to the confirmation signals for trending indicators and volume.
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13
5月
Market commentary: Retest last bottom
Based on the crash, the downside risk is still intact due to high volatility. Traders should wait for the next signals and stay on the sidelines.
12
5月
Market commentary: Retest 1,300-pts threshold
Despite the second recovery, the downside risk is still intact as high volatility. Traders should wait for the next signals and stay on the sidelines.
11
5月
Market commentary: Banking makes market gains
Despite the recovery, the downside risk is still intact as high volatility. Traders should wait for the next signals and stay on the sidelines.
10
5月
Market commentary: Sell-off
In the short term, the market sentiment has become pessimistic as the downside risk is still intact. Traders should wait for the next signals and stay on the sidelines.
10
5月
Fundflow 04-06 May: The flow of money is not significant
Foreign supply outweighed but selling pressure is not strong. Buying activity focused on Real Estate, Materials, and Financials whilst large sell orders were placed on IT. With ETF flow, the flow of money is not significant, money inflow focused on VFMVN30 and VFMVN Diamond.
09
5月
Chart of the day: The rebound phase is faded
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.
09
5月
Market commentary: Selling pressure
The downside risk is still intact in the short term. Traders should wait for the next signals and stay on the sidelines.
06
5月
Market commentary: VHM climbs 6.67%
Despite the recovery, the VNIndex continued to retest the 10-period moving average, implying the bullish market is not confirmed. Therefore, the downside risk is still intact in the short term. Traders should wait for the next signals and stay on the sidelines.
05
5月
Market commentary: A fear
The VNIndex fell when retesting the 10-period moving average, implying the bullish market is not confirmed. Therefore, the downside risk is still intact in the short term. 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.