16
3月
Based on data as of 15 Mar 2022, we expect that foreign ETFs will sell VRE, MSN, and HPG the most with 4.2 million, 3.6 million and 3.4 million shares. On the buy-side, VND, STB, and VIC will be bought heavily with 10.0 million shares, 9.5 million shares, and 5.2 million shares.
16
3月
In the short term, the downside risk is still intact as the VNIndex confirms the head and shoulders pattern. That means the target price may be around the 1,350-pts zone. Therefore, traders should still be careful and stay on the sidelines.
15
3月
Last week, the covered warrant market dropped. Trading volume also declined. Notably, demand starts to drop whilst supply remains at high level.
15
3月
The VNIndex confirms the head and shoulders pattern as closing below the neckline. That means the target price may be around the 1,350-pts zone. Therefore, traders should still be careful and stay on the sidelines.
15
3月
Although there is the downtrend, traders should continue to stay on the sidelines and new short position should be opened when there is the rebound phase.
14
3月
Although there is the downtrend, traders should continue to stay on the sidelines and new short position should be opened when there is the rebound phase.
14
3月
The VNIndex is sideways and needs bullish signals to confirm the uptrend due to low liquidity.
14
3月
Based on selling pressure, the downside risk is still intact in the short term. Besides, the VNIndex closes below the 1,510-pts threshold. Therefore, traders should still be careful and stay on the sidelines until the VNIndex closes above the 1,510-pts zone.
11
3月
On Mar 11, Tien Phong Securities (ORS) held the Annual general meeting. The company presented to us full-year 2021 results as well as the 2022F business plan. The company shared that 1Q22 PBT is estimated around VND300bn (+158% YoY), equivalent to 60% of 2022 full-year guidance and exceeding full-year 2021 number. Total bond value consulted by TPS in 2021 reached VND42,910bn (+237% YoY). Per management, investment banking or bond issuing consultants in specific continue to be the main pillar in the company’s strategy in 2022.
11
3月
Despite the second recovery, the downside risk is still intact in the short term as the VNIndex closes below the 1,510-pts threshold. Therefore, traders should still be careful and stay on the sidelines until the VNIndex closes above the 1,510-pts zone.
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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