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Bullish momentum is still active. The current bullish swing could support the long positions but new long positions for swing trading are not recommended. New positions should be placed if there is the minor correction or the short-term range bound to capture the good risk/reward ratio.

The market increases slightly during the session with high liquidity, indicating inflow is still positive. Furthermore, the VNIndex maintains to end above the important support level of 1,200 pts. In the short term, this index has retested the previous resistance level of the 1,240-pts threshold. Therefore, investors should hold long positions and wait for the next signal.

PVD posted its 2Q23 results with revenue of VND1.4tn (-6.7% yoy) due to lower revenue from well-related services and no revenue from leased rigs. While NPAT-MI turned green to VND161bn in 2Q23 vs a net loss of VND60bn in 2Q22 since PVD’s average jack-up (JU) day rate (USD75,000/day), utilization rate rose strongly yoy and booking a compensation of VND70bn for ending drilling contract with Valeura - Thailand.

2Q23 PBT was up 9.8% yoy (to VND2,022bn) thanks to a strong growth of TOI. 2Q23 high provision expense (+534%yoy) was the key dampening factor to the profit growth. 2Q23 LC and LMC loan (+28.09%YTD, +4.7%qoq) was the driver of the total consumer loan (+13.22%YTD, -0.16%qoq). 2Q23 NIM (TTM) inched down to 4.3% (vs. 4.4% in 1Q23 and 4.1% in 2Q22) due to lower asset yield. NFI went up 85.3%yoy (to VND1,317bn) in 2Q23. The CIR ratio declined from 2Q22’s 38% to 2Q23’s 29%. 2Q23 NPL (2-5 group) and NPL (3-5 group) climbed to 6.0% (vs. 1Q23’s 5.2%) and 2.6% (vs. 1Q23’s 2.0%) respectively.

The stock market decreases significantly during the session with liquidity at a high level, showing the investors’ caution sentiment is still present. However, the VNIndex remains to end above the important support level of 1,200 pts. Therefore, investors should hold long positions and wait for the next signal.

Bullish momentum is still active. The current bullish swing could support the long positions but new long positions for swing trading are not recommended. New positions should be placed if there is the minor correction or the short-term range bound to capture the good risk/reward ratio. For short-term trading, traders could buy VN30F2308 after ATO session and stop the loss when there is the closing price below 1,230 pts level (Hourly chart).

Bullish momentum is still active. The current bullish swing could support the long positions but new long positions are not recommended. New positions should be placed if there is the minor correction or the short-term range bound to capture the good risk/reward ratio. Thus, traders should stay on the sidelines in order to capture the best bid/offer (Hourly chart).

The stock market moves in the narrow range around the reference point while the liquidity remains at a high level, indicating the ongoing tug-of-war between buying and selling activities. However, the uptrend is still positive as the VNIndex maintains close above the 50-period moving average. Therefore, investors should hold long positions and wait for the next signal.

This quarterly earnings report on the Vietnam cement industry is intended to track the earning growth trend in the cement market. We witnessed earnings were back to positive in 2Q23 . The lower cost of input material was the main driver for the NPAT improvement in 2Q23. Earnings results varied among companies depending on their main markets, its input prices whilst companies have been under the impact of intense competition and weak market demand. Companies completed annual guidance at low level, especially profit’s one, despite that companies already set the cautious profit guidance for 2023F.

Minor correction has high probability to occur. New positions should be placed if there is the minor correction or the short-term range bound. Thus, traders should stay on the sidelines in order to capture the best bid/offer (Hourly chart).