![DHA-Earnings Review-[BUY]-Strong performance thanks to high sales](https://kisvn.vn/cn/wp-content/uploads/sites/3/2022/01/shutterstock_1187812387-scaled.jpg)
20
7月
DHA’s revenue increased by 5.4% yoy to VND100.79bn in 2Q23 while the NPAT posted VND35.30bn (1970% yoy). DHA's gross profit increased significantly by 39.5% yoy. NPAT growth is also come from VND 21.5bn reversal of provision for the investment in HPG stock.
20
7月
The stock market only experiences a slight decline with improved liquidity, indicating that investors' hesitation is still present. Inflow remains relatively cautious after a series of consecutive gain sessions, while profit-taking pressure remains weak. Nevertheless, the uptrend maintains a positive signal as the VNIndex still ends above the 50-period moving average. Therefore, investors should hold long positions and focus on leading stocks.
20
7月
Long positions on VN30F2307 should be held and stop the loss when there is the closing price below 1,140 pts level (Hourly chart). For new entry, traders should wait for the trading point on upcoming contract.
19
7月
This monthly report on Vietnam steel production is intended to track the developments in the steel market. During June 23, we observed the total consumption volume was slightly down 6.2% mom, 3.1% yoy to 2.0mn tonnes. The total sale volume was slumped due to weak global demand (11.5Mn tonnes, -17.5% yoy).
19
7月
Long positions on VN30F2307 should be held and stop the loss when there is the closing price below 1,140 pts level (Hourly chart). For new entry, traders should wait for the trading point on upcoming contract.
19
7月
The market slows down however the VNIndex still ends in the green territory, indicating the investors' hesitation sentiment. Moreover, the downside risk is still present around the 1,180-1,200 pts zone. Therefore, investors should hold long positions and wait for the next signals.
19
7月
The HoSE announced the new constituents of the VN30Index and the VNFIN LEAD Index last Monday. As per the announcement, the VN30Index will remove NVL and PDR while adding SHB and SSB in the 3Q23 review. Additionally, the VNFIN LEAD Index will remove BVH but will not exclude any tickers in this review.
19
7月
Total June steel sales volume posted 634,762 tonnes, increasing by 2.5% mom but -1.0% yoy. Construction steel volume increased to 286,036 tonnes, -17.8% yoy, +0.6% mom. In which, domestic sales volume increased by 10.6% mom while its export was down by 55.5% yoy.
19
7月
Total June steel sales volume posted 116,406 tonnes, dropped by 8.7% yoy and 3.3% mom. The FY9M23 (Oct 2023-Feb 2023) total sale decreased 31.6% yoy to 1,008,369 tonnes as steel pipes volume declined 18.1% yoy to 210,545 tonnes and steel coat fell 34.4% yoy to 797,824 tonnes.
19
7月
Total May steel sales volume posted 80,917 tonnes, increasing 4.5% mom and decreasing 1.5% yoy. The 6M23 total sales volume came in at 430,331 tonnes, -16.9% yoy. In which, the steel coat volume declined 18.1% yoy to 357,437 tonnes and the steel pipes volume was down by 10.3% yoy to 72,894 tonnes
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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