15
2月
Foreign selling ticked up. Sulling activity focused on Real Estate and Materials whilst solid demand was absorbed by Consumer Staples and Financials. With ETF flow, outflow came back, driven by the strong divestment on VFMVN30 ETF.
14
2月
The VNIndex needs clearly bullish signals to confirm the uptrend because of low trading value and volume.
14
2月
In the short term, the VNIndex moves around the 1,500-pts threshold. Moreover, the downside risk is intact in the short term, and the index does not confirm the bullish market. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
11
2月
The VNIndex moves around the 1,500-pts threshold with high volatility. Moreover, the downside risk is intact in the short term. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
10
2月
Market sentiment has become optimistic as the VNIndex breaks out the 1,500-pts threshold and the trading value and volume increase. However, the downside risk is intact in the short term. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
09
2月
The VNIndex has retested the 1,500-pts threshold, implying the downside risk is intact in the short term. The bullish market does not confirm. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
08
2月
Foreign selling was faded by demand. Buying activity focused on C Financials and Real Estate whilst solid selling pressure was absorbed by Consumer Staples and Materials. With ETF flow, inflow across Vietnam has come back to normal level.
08
2月
Despite the sharp recovery after the Tet holiday, the downside risk is still intact in the short term as the VNIndex reaches the 1,500-pts threshold. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
07
2月
Despite the recovery before the Tet holiday, the downside risk is still intact in the short term. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
07
2月
Although the bullish momentum is not improved, the medium-term trend is still supported. In this case, investors should continue to hold the current positions on leading stocks and position size should be closed by half when the 1,420 pts zone is pierced.
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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