02
6月
The VNIndex rebounds because of high demand at low prices, showing the cash flow. That is bullish signals. The uptrend will be still confirmed when this index surpasses the threshold of 1,080 points. Therefore, investors should stand aside and observe the next movements of the market.
02
6月
We initiate an Overweight rating on the Crushed Stone industry in 12-month horizons spurred by the robust demand growth serving the public infrastructure spending in 2024-2025F. Going forward, the housing property could bounce back, reinforcing the crushed stone consumption growth in 2024-2023F. However, the South’s crushed stone industry could cite a slow 2023 due to the gloomy housing property dynamics seen in 2020-22. We give BUY ratings to VLB (TP: VND45,100, UPSIDE: +47%) and DHA (TP: VND47,000, UPSIDE: +22%) and HOLD to KSB
02
6月
Long positions on VN30F2306 should not be closed and stop the loss when there is the closing price below 1,050 pts level (Hourly chart).
01
6月
Liquidity condition in the money market remains ample under SBV’s effort to lower lending interest rates to facilitate domestic production. Money continues flowing into the banking system with a massive T-bill maturity without being rolled over. Thus, the interbank rate reduced across the curve this week. Turning into the FX market, USDVND increases further under the DXY resurgence. However, thanks to the steady trade surplus in recent months, we foretell the exchange rate to be stable despite the increasing possibility that Fed will provide a 25bps hike in the meeting two weeks later.
01
6月
We expect that MVIS Vietnam Index will add EIB, while not excluding any tickers in the 2Q23. Besides, FTSE Vietnam ETF will not add and remove any tickers in this quarterly review.
01
6月
Long positions on VN30F2306 should not be closed and stop the loss when there is the closing price below 1,050 pts level (Hourly chart).
01
6月
Although the market slows down, the VNIndex is still close above the 50-period moving average. Accordingly, the uptrend will be still confirmed when this index surpasses the threshold of 1,080 points. Therefore, investors should stand aside and observe the next movements of the market.
31
5月
Indicators in May seem to characterize a turnaround in Vietnam’s economy when export and production activities experienced significant improvements. In addition, domestic consumption sustains its strong growth with well-controlled inflation, adding confidence about the bright economic picture soon. May also reveals a better situation in foreign investment when the global rate hike seems to step into the end phase.
31
5月
The signal is still positive when the market gains slightly along with high liquidity. Accordingly, if the VNIndex surpasses the threshold of 1,080 points, the uptrend will be confirmed. Therefore, investors should wait for the signals to open long positions.
31
5月
Long positions on VN30F2306 should not be closed and stop the loss when there is the closing price below 1,050 pts level (Hourly chart).
31
5月
Indicators in May seem to characterize a turnaround in Vietnam’s economy when export and production activities experienced significant improvements. In addition, domestic consumption sustains its strong growth with well-controlled inflation, adding confidence about the bright economic picture soon. May also reveals a better situation in foreign investment when the global rate hike seems to step into the end phase.
19
5月
The global condition has exerted pressure on the stock market in the short term because (1) companies have faced difficulties in 1Q23 and (2) the corporate bond market poses future financial pressure. We expect two scenarios may unfold. Firstly, in the bullish scenario, the VNIndex can reach 1,220 pts in 2H23. Secondly, the bearish scenario suggests the VNIndex retest the zone of 780-910 pts.
09
5月
April shows the adverse impact of weak global demand, under the high-interest rate environment, on Vietnam's economy was still effective. Export decline persists this month, even with a higher rate than in March under the weak 1Q23 revenue from GVC leaders whose factories were heavily located in Vietnam, such as Samsung Electronics. Furthermore, industrial production grows modestly from reducing significantly in the previous month due to the robust domestic demand. On the upside, inflation continued to be well-controlled and retail sales performed impressively, providing support for economic growth in 2Q23.
21
4月
1Q23 shows the negative impact of the weak global demand on Vietnam’s economic activities, with a slowdown and even a reduction in export-related sectors. The export and export-oriented production saw significant declines in the first quarter of 2023, and the fruitful consumption in the first normalized Tet could not reverse the slowdown. On the upside, we saw improved industrial production, less severe trade performance, a tourism return, and well-controlled inflation in March, providing hope that economic activities would accelerate in the next quarter.
30
3月
1Q23 shows the negative impact of the weak global demand on Vietnam’s economic activities, with a slowdown and even a reduction in export-related sectors. The export and export-oriented production saw significant declines in the first quarter of 2023, and the fruitful consumption in the first normalized Tet could not reverse the slowdown. On the upside, we saw improved industrial production, less severe trade performance, a tourism return, and well-controlled inflation in March, providing hope that economic activities would accelerate in the next quarter.
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