17
6月
Despite the strong rebound yesterday, 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.
16
6月
The downside risk is intact in the short term as the VNIndex closes below the 10- and 20-period moving average. Therefore, traders should reduce long position and wait for next signal.
16
6月
Total insurance premium accumulated in 4M22 was pegged VND74,036bn (+14.1% yoy). Growth rate up to 4M22 for life insurance premium was 14.5% which continues to be less positive when compared to growth rate above 20% in 2020 and 2021. The losing growing momentum is claimed to delayed effect of COVID19. Having to be mentioned that the current pace is just weaker than one in previous period and we do not see any bad sign in long-term sector’s outlook. Contrast to Life insurance, Non-life maintained an impressive growth rate. Particularly, 4M22 premium growth rate was 13%, much higher than 2020 and 2021 performance which is 6.2% and 3.98%, respectively. The main motivation comes from high-proportion products namely Health insurance as well as Motor vehicle insurance.
16
6月
VN30F2207 is traded with the lower price than VN30F2206, implying the pessimistic market sentiment. In this case, traders should stay on the sidelines and wait for the reaction of this instrument near 1,200 pts area.
16
6月
Short-term funding costs return cheaper following SBV’s tightening of credit quality. Accordingly, the selling pressure of government bonds on the secondary market has eased. However, we predict that the cheap short-term cost situation was temporary under potential growth in the first lending market.
14
6月
In the 2Q22 review, FTSE Vietnam Index will exclude APH and not add any ticker. Meanwhile, VanEck Vectors Vietnam ETF will add two Vietnam tickers, namely SHB and VCG, besides, it excludes ORS. Based on data as of 13 June 2022, we expect that foreign ETFs will sell VRE and STB the most with 5.7 million shares and 3.7 million shares. On the buy-side, SHB and VND will be bought heavily with 6.0 million shares and 5.2 million shares.
14
6月
Last week, trading activity across the covered warrant market remained at normal level. With foreign trading activity, the market kept ending up to be net sold. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 9 consecutive weeks. Besides, covered warrants of POW also absorbed the trading interest across the market.
14
6月
In this case, traders should stay on the sidelines and wait for the reaction of this instrument near 1,200 pts area.
14
6月
The VNIndex closes below the 10- and 20-period moving average and the market sentiment has become pessimistic. Therefore, the downside risk increases in the short term. Traders should reduce long positions and wait for the next signal.
13
6月
Market ended up to be net bought. Demand was mainly attracted by Financials, Materials, and Consumer Staples whilst selling activity was absorbed the most by Real Estate, Industrials, and Energy. With ETF flow, money inflow across Vietnam has started to slow down. Net inflow was USD25mn. The positive flow of money was mainly driven by the stable demand on VFMVN Diamond and Fubon FTSE Vietnam.
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.
English
Tiếng Việt