26
5月
The VNIndex shows some bullish signals because of (1) closing above the 10-period moving average, and (2) increasing volume. That means the uptrend begins to form in the short term. Therefore, traders may be open small long positions, and avoid buying on margin.
26
5月
The instrument is expected to fluctuate within 1,200-1,300 pts zone due to the low probability for piercing 1,200 pts level as well as breaking 1,300 pts zone accurately. Thus, traders should continue to stay on the sidelines and wait for the next accurate trading signal which would come after the consolidation/fluctuation phase.
25
5月
Last week, trading activity increased across the covered warrant market. With foreign trading activity, the market has turned around to be net sold, net sell value was VND2.7bn. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 6 consecutive weeks.
25
5月
The instrument is expected to fluctuate within 1,200-1,300 pts zone due to the low probability for piercing 1,200 pts level. Thus, traders should continue to stay on the sidelines and wait for the next accurate trading signal which would come after the consolidation/fluctuation phase.
25
5月
Despite the recovery, the downside risk is still intact in the short term. That means the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
25
5月
HPG BOD had conservative guidance caused by the uncertainty of geopolitical tension. The BOD supposed that the industry impact caused by the geopolitical tension and the Zero-COVID policy will be shown in the company’s performance in 2Q22 and 3Q22.
25
5月
According to the MoIT, after two months that had been disrupted in exporting, fertilizer export volume in Apr jumped 28% mom/15% yoy to hit 115,000 tonnes, with the total value of USD78mn. On average, the export price was USD678/tonne (+25% mom and +105% yoy) in Apr. In which, Viet Nam exported to Cambodia the most with the market share of about 41%.
25
5月
Market ended up to be net sold but selling pressure was not strong. Selling activity has turned around to be absorbed the most by Financials, Real Estate, and Materials whilst demand kept focusing on Consumer Staples. With ETF flow, money inflow across Vietnam reached the all-time high. Net inflow was USD115mn. The positive flow of money was mainly absorbed by VFMVN Diamond and Fubon FTSE Vietnam.
24
5月
Based on the sharp contraction, the downside risk is still intact in the short term. That means the bullish trend is not confirmed. Therefore, traders should wait for the next signals and stay on the sidelines.
24
5月
The instrument is expected to fluctuate within 1,200-1,300 pts zone due to the low probability for piercing 1,200 pts level. Thus, traders should continue to stay on the sidelines and wait for the next accurate trading signal which would come after the consolidation/fluctuation phase.
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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