研究中心

We expect that MVIS Vietnam Index will add EIB, while not excluding any tickers in the 2Q23. Besides, FTSE Vietnam ETF will not add and remove any tickers in this quarterly review.

Long positions on VN30F2306 should not be closed and stop the loss when there is the closing price below 1,050 pts level (Hourly chart).

Although the market slows down, the VNIndex is still close above the 50-period moving average. Accordingly, the uptrend will be still confirmed when this index surpasses the threshold of 1,080 points. Therefore, investors should stand aside and observe the next movements of the market.

Indicators in May seem to characterize a turnaround in Vietnam’s economy when export and production activities experienced significant improvements. In addition, domestic consumption sustains its strong growth with well-controlled inflation, adding confidence about the bright economic picture soon. May also reveals a better situation in foreign investment when the global rate hike seems to step into the end phase.

The signal is still positive when the market gains slightly along with high liquidity. Accordingly, if the VNIndex surpasses the threshold of 1,080 points, the uptrend will be confirmed. Therefore, investors should wait for the signals to open long positions.

Long positions on VN30F2306 should not be closed and stop the loss when there is the closing price below 1,050 pts level (Hourly chart).

According to the GSO estimate, in May, the total agriculture export value remained stable at USD2.1bn (+2% mom, +19% yoy). Rice keeps being the highest value exported product with USD530mn (-8% mom, +37% yoy), and it accounted for 25% of total agriculture export turnover. Vegetables export value sharply rose by 22% mom and 67% yoy to USD500mn. Vegetables and fruits exporting value to China increased 30% yoy in 4M23. In 2Q23, Vietnam expected to boost durian and sweet potato sales to China market after China Customs certified more qualified export zones in Vietnam.

Selling pressure from foreign investors increased again. The net selling value was recorded at USD100mn, the highest since the beginning of 2023. With ETF flow, outflow was active. Net outflow was USD11mn. There is still not a good sign for the stable inflow and outflow could be active in upcoming weeks.

Last week, trading volume increased, staying above 4-week average, recording at 63mn shares, a 2-month high. By underlying asset, covered warrants which have STB as the underlying asset continued to attract the most of trading interest from both domestic and foreign investors.

A strong increase in the stock market is a good sign. Accordingly, if the VNIndex surpasses the threshold of 1,080 points, the uptrend will be confirmed. Therefore, investors should wait for the signals to open long positions.