研究中心

Despite the contraction, the VNIndex maintains its uptrend in the short term because of (1) closing above the 20-period moving average, and (2) increasing volume. Therefore, traders may open small long positions, and avoid buying on margin.

Urea/NPK/Phosphate/DAP production volume in May were 197,900/283,700/91,200/38,000 tonnes. Export volume jumped 54% yoy/7% mom to hit 160,000 tonnes, with the total value of USD106mn. On average, the export price was USD663/tonne (-3% mom and +91% yoy). Although it may be difficult to achieve the “idealy” export volume in Jan-22, exports in May was still relatively high compared to other months in 2021.

Long position on VN30F2206 should be held and stop the loss when there is the closing price below 1,270 pts level. (Hourly chart)

In the short term, the VNIndex maintains its uptrend because of (1) closing above the 20-period moving average, and (2) increasing volume. Therefore, traders may open small long positions, and avoid buying on margin.

We expect foreign ETFs to sell VRE the most with 9.2 million shares. On the buy-side, SHB and VND will be bought heavily with 8.1 million shares and 5.9 million shares.

Although trade activities experience a slowdown under the struggling global supply chain, May’s figures show that economic recovery remains solid with impressive growth in domestic consumption. We forecast that domestic demand, backing by the pent-up demand, fiscal support, and promising spending from foreign visitors, could be a key factor in economic growth in the next couple of months. On the downside, registered FDI hit a new low this year, raising concerns about fewer investment opportunities in a time of global monetary policy divergence and geopolitical uncertainty.

The seafood export thrived to USD2.5bn (+46% yoy) in 1Q22, mainly driven by sales revival in all markets for all seafood categories. Hence, 24 listed seafood exporters recorded a VND16tn revenue (+47.5% yoy) and VND1,281bn NPAT (+2.4x yoy). We maintain OUTWEIGHT rating even the seafood stocks were up sharply in1H22. We believe the rally is persisting through 3Q22F given clear earnings momentum backed by sound business conditions.

Long position on VN30F2206 should be held and stop the loss when there is the closing price below 1,270 pts level. (Hourly chart)

Despite the contraction, the VNIndex maintains its uptrend because of (1) closing above the 20-period moving average, and (2) increasing volume. Therefore, traders may open small long positions, and avoid buying on margin.

Last week, trading activity increased across the covered warrant market. With foreign trading activity, the market has turned around to be net sold but selling pressure was not strong. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 7 consecutive weeks, mainly driven by CFPT2203 (107.8%).