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Selling pressure is still strong and the rebound phase could not occur. In this case, traders should stay on the sidelines and wait for the bottom forming signal.

GMC targets a VND620bn revenue (-42% yoy) and a VND60bn NPAT (+9% yoy) in 2022F. The company will pay 2021’s dividend by cash at 50%, in which 1st payment of 20% will be on June 24th and the 2nd payment of 30% is expected to be in 3Q22F. A 50% cash dividend at par could bring an appealing dividend yield of 22.2%.

Market ended up to be net bought. Demand was mainly attracted by Financials, Materials, and Industrials whilst selling activity was absorbed the most by RConsumer Staples and Consumer Discretionary. With ETF flow, money inflow across Vietnam continued to slow down. Net inflow was USD13mn. The positive flow of money was mainly driven by Fubon FTSE Vietnam.

On Jun 17, we tuned in to GVR’s AGM presentation briefing for the upcoming business plan. Rubber Group of Vietnam is among the biggest state-owned rubber producers with 400,000ha rubber land: Laos and Cambodia occupy 115,000ha, Southeast regions of Vietnam form 150,000-160,000ha, Central Highland accounts for 70,000. GVR’s rubber capacity stood at 1.51tonne/ha in 2021. Hit by swirls of raw material price rally and freight rate upturn, GVR prudently guides a flattish NPAT of VND5,340bn based on a 4.8% yoy revenue growth.

The downside risk is intact in the short term due to low liquidity. Besides, 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.

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.

Selling pressure is still strong and demand is not strong enough to faded current bearish swing. In this case, traders should stay on the sidelines and wait for more accurate trading signal.

On Jun 16, we attended TCL’s AGM presentation briefing for the upcoming business plan. TCL currently held 92%, and 65% of market shares in the port operating segment in the Ho Chi Minh region, and Cai Mep area, respectively. TCL also occupied merely 50% of the container for international trades segment. On a prudent hope for a robust revival, TCL guides NPAT to be VND117.7bn, +3.7% yoy driven by a revenue estimate of VND1,242.5bn, +3.4% yoy. A 42% cash dividend at par could be paid in Aug, 2022, equivalent to a dividend yield of 11.6%.

The selling pressure near 1,300 pts zone needs more time to be absorbed and the instrument could not pierce this zone on this trading day. In this case, traders should stay on the sidelines and wait for more accurate trading signal.

Indirectly owned by Duc Giang Chemicals JSC (DGC VN, Non-rated) with a 51% stake, Vietnam Apatite Phosphorus Company (PAT) is going to list on the UPCoM bourse on Jun 17th with its 25mn shares. Riding on the commodity upswing, PAT stands out and gains the spotlight.