21
2月
Bullish momentum has been improved as well as the medium-term trend is still supported. In this case, investors should continue to hold the current positions on leading stocks and position size should be closed by half when the 1,470 pts zone is pierced.
21
2月
On Feb 18 analyst meeting, Bamboo Capital Group (BCG) introduced us to the 4Q21 results and their 2022F business plans regarding real estate development and renewable energy strategy. - The net debt to equity is geared to 1.55-1.56x in 2020-21, raising concerns about their leverage. The company has yet provided its fund plan but could issue 60mn shares in 2022F to reduce this ratio.
21
2月
The sector aggregated revenue was pegged at VND20.4tn (+92% yoy) in 4Q21 and VND60.5tn (+109% yoy) in 2021. In tandem with the revenue growth, aggregated profit after tax grew robustly with VND6.6tn (+88% yoy) in 4Q21 and VND21.5tn (+115% yoy) in 2021. We estimate that the ADTV in 1Q22F continues to stay at VND22tn-23tn (+20% yoy). Revenue from brokerage and margin lending could account for a major proportion in revenue and net profit structure. Therefore, revenue performance in 1Q22F could be secured with positive YoY results.
18
2月
Buy point is ready on VN30F2203. Long this instrument after ATO session and stop the loss when there is the closing price below 1,500 pts level.
18
2月
Despite the breakout for 1,500-pts threshold, the downside risk is still intact due to low liquidity. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
17
2月
In January, during a high liquidity demand period, surging interbank rates continued to put upward pressure on fixed-income markets. Developments in the post-Tet period this year are also abnormal with liquidity tension yet to be eased. Looking ahead to February, from our view, tightening liquidity conditions in the banking system, combined with widening mismatch in credit-deposit growth and accelerating economic recovery pace, would put more upward pressure on the government bond yields.
17
2月
The market sentiment has become cautious as the VNIndex retests the 1,500-pts threshold. Besides, the downside risk is still intact. Therefore, traders should be careful and stay on the sidelines until the next bullish signals.
17
2月
For new entry point, traders should wait for the accurate trading signal which will occur after the consolidation phase.
16
2月
For new entry point, traders should wait for the accurate trading signal which have not occured.
16
2月
The Covered Warrant market recorded the surge in trading volume and trading value last week. However, market is still net sold by foreigners with the remarkable surge in selling activity.
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.
English
Tiếng Việt