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Despite the recovery, the downside risk is still intact as the selling pressure appears at the 1,510-pts threshold. Therefore, traders should still be careful and stay on the sidelines.

On Mar 29, SZC made an AGM presentation briefing for the upcoming business expansion plan. Key issues covered were the 2022F guidance and their long-term targets. In 2022F, SZC’s earnings guidance retreats by 43.2% yoy despite a flattish revenue growth forecast of 7.3% yoy, per management. Based on management's guidance of 2022F profit, 12MF PE is 42.3 times and 12MF PB is 4.7 times, remarkably higher than the 2-year median of 17.2x and 2.7x, respectively.

Last week, trading activity is more active across the cover warrant market, up 14% WoW. However, foreign trading activity dropped and continued to be net sold.

On Mar 29, Petrolimex (PLX) held the 2022 extraordinary Annual General Meeting to elect the Board of Management and Board of Supervisors members for 2021-2026F. It is the 1st time PLX elects an independent BoM member. The company also mentioned about its divestment plans in PJICO and PG Bank in 2022F and its petroleum import plan in 2022F in the context of decreasing supply from Nghi Son Oil Refinery plant.

In 2M22, MWG recorded total revenue of VND25,383bn (+16.9% yoy) and a total NPAT of VND 1,077 bn (+7.8% yoy), fulfilling 18%/17% guidance. In which, TGDD and DMX achieved VND21,300bn revenue (+20% yoy). Meanwhile, the BHX chain recorded revenue of VND3.900bn (-2.5% yoy). Per MWG, BHX’s strategy will focus on boosting sales volume through promotions which will affect temporarily the BHX chain’s profit margins in 2022F

Based on the strong bearish session, the downside risk is still intact as the selling pressure appears at the 1,510-pts threshold. Therefore, traders should still be careful and stay on the sidelines.

VN30F2204 is having the tendency to retest the 1,460 pts area. Traders should continue to stay on the sidelines and wait for accurate trading signal due to the increase of volatility level in upcoming sessions.

Foreign demand surged. Demand focused on Real Estate, Industrials, and Consumer Staples. With ETF flow, inflow ticked up, driven by the strong demand on VFMVN Diamond and Fubon FTSE.

On Mar 26, PDR held a 2022 AMG briefing for the upcoming business expansion plan. Key issues covered were the 2022F guidance, and funding demand. The company offered its guidance for 2022F with a VND10.7tn revenue, 127.7% yoy and a VND2.9tn net profit, 55.5% yoy. PDR has yet supplied further information on the new funding demand but is eyeing on issuing abroad and green bonds.

In the short term, the downside risk is still intact as the selling pressure appears at the 1,510-pts threshold. Therefore, traders should still be careful and stay on the sidelines.