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Tiếng Việt
23
2月
Daily derivatives: Respecting the demand zone
Long position on VN30F2203 should be held and stop the loss when there is the closing price below 1,500 pts level.
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23
2月
Market commentary: Contraction phase?
In the short term, the market sentiment has become cautious as the VNIndex retests the 1,510-pts threshold. Besides the liquidity is at a low level, implying the downside risk. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
23
2月
Covered Warrant 14-18 Feb: Foreign demand is faded for three consecutive weeks
Covered Warrant market experienced the drop in trading value and trading volume last week. Besides, market is still net sold by foreigners for three consecutive weeks.
22
2月
Fertilizer – Sector note – Optimism remains in 1Q22F
4Q21 aggregated revenue of 17 listed fertilizer producers jumped 86.9% yoy, while 4Q21 aggregated NPATMI soared 1,410.8% yoy. The NPATMI grew sharply and reached an all-time high in 4Q21. The stronger net profit growth was attributed to gross profit margin expansion. Demand for agricultural products remains abundant in 2022F backed by urges to ensure food security after COVID-19 pandemic and to compensate for the crop reduction due to climate changes.
22
2月
Daily derivatives: Earliest sign for the bull
Long position on VN30F2203 should be held and stop the loss when there is the closing price below 1,500 pts level. For new long positions, long VN30F2203 after ATO session and stop the loss when there is the closing price below 1,500 pts level.
22
2月
Market commentary: Maintain bullish market
Despite the gaining session, the VNIndex moves around the 1,500-pts threshold with low liquidity, implying the cautious market sentiment. Besides, the downside risk is still intact. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
22
2月
Fund flow 14-18 Feb: Demand ticks up across SEA
Foreign demand ticked up. Buying activity focused on Real Estate and Consumer Staples whilst solid supply was absorbed by Materials. With ETF flow, inflow came back, driven by the strong demand on VFMVN30 ETF and SSIAM VNFIN Lead.
21
2月
PDR-Brief-Diversified engines of growth
On Feb 18, PDR set up an analyst meeting to brief their 4Q21 results, land bank acquisition and development plan in 2022F-24F. The company claims to acquire at least 5,531ha as of end-2021 (459ha as of end-2020) in 8 provinces of which 18-20% is secured for development while the remainders are sought for a legal license. Breaking down by type of purpose, 28% of the total land bank is monetised for industrial estates. In detail, PDR plans to monetize a 24ha logistic area in Cai Mep-Vung Tau province and 394ha Cao Lanh industrial park in Dong Thap province in 2022F
21
2月
Daily derivatives: Range bound would take place
Long position on VN30F2203 should be held and stop the loss when there is the closing price below 1,500 pts level.
21
2月
Market commentary: Retest 1,500-pts threshold again
The VNIndex move around the 1,500-pts threshold with low liquidity, implying the cautious market sentiment. Besides, the downside risk is still intact. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
Featured Articles
24
8月
U.S July Retail sales and Vietnam T&G exports
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
An improved economic performance amidst easing external headwinds
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
Vietnam’s economy: gaining momentum
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
3Q23 Strategic Insight: Embrace the opportunity
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
Slight pickup amidst persistent global challenges
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.