22
3月
Last week, trading activity across the covered warrant market declined, proving by the decrease of trading volume, down 20% WoW. However, foreign selling pressure has slowed down whilst demand remained at normal level.
22
3月
The VNIndex closes above the neckline of the head and shoulders pattern, implying a false pattern. However, the index retests the 1,510-pts zone, the strong resistance. Therefore, traders should still be careful and stay on the sidelines.
22
3月
On Mar 21, Hoa Sen Group (HSG) held the Annual General Meeting. The company presented to us full-year FY2021 results as well as the FY2022F business plan. Hoa Sen Home is expected to be the first successful one-stop shop for construction materials and products in Vietnam.
22
3月
Although there is the downtrend, but rebound phase is still active. Traders should continue to stay on the sidelines and wait for accurate trading signal.
22
3月
MWG officially enters into a joint venture partnership with PT Erafone Artha Retailindo (“Erafone”), a subsidiary of Erajaya Group (ERAA) in Indonesia, through the signing of a Joint Venture Agreement to form a joint venture company PT Era Blue Elektronic (“Era Blue”). We believe that this collaboration is highly expected which envisages a new strategy of growth to MWG amid a saturation of the electronics and ICT retail segment in Vietnam. Given the higher MWG margins, we believe the addition of this business line will be positive for ERAA’s long-term growth.
21
3月
Foreign selling pressure slowed down. Selling activity focused on Real Estate, Materials, and Consumer Staples whilst demand was mainly absorbed by Financials and Industrials. With ETF flow, outflow surged, driven by the strong divestment across on VanEck, VFMVN Diamond, and MAFM VN30.
21
3月
Although there is the correction phase, the medium-term trend (uptrend) still remains. In this case, investors should reduce the current positions on leading stocks and wait for the valid signal (the range breakout or breakdown).
21
3月
According to Ministry of Industry and Trade (MoIT), total coal volume supplied by Vinacomin (TKV) and Dong Bac Group to EVN's 14 coal-fired power plants in February were only equivalent to 69.24% of the predetermined contracted volume and much lower than their operation demand. As we contacted with TKV, they asserted that TKV still supplied enough coal for power production in 2M22. TKV will mobilize labors to ensure coal supply of 150,000 tonnes/day.
21
3月
In the short term, the VNIndex has retested the neckline of the head and shoulders pattern. Therefore, traders should still be careful and stay on the sidelines.
21
3月
Although there is the downtrend, but rebound phase is still active. Traders should continue to stay on the sidelines and wait for accurate trading signal.
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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