24
10月
The current rebound phase is ended. Subsequent bearish candles have faded rebound phase and increase the risk for holding long positions. However, on Friday session, there is demand near MA200. Thus, traders should stay on the sidelines and wait for valid trading signal.
24
10月
Selling pressure comes back again and intensifies strongly during the session, causing the stock market to have a deep loss day with low liquidity. The downside risk is still intact as the VNIndex closes below the 200-period moving average. However, the important support zone of the 1,080-1,100 points is still not breakout. Therefore, investors should stay on the sidelines and wait for the next signals.
24
10月
We initiate our coverage on VCB with a BUY rating and a target price of VND100,000, implying a 18% upside by using a residual approach (50%) and P/B method (50%). VCB still maintained profit growth (+18%yoy in 1H2023) and was not pressured by increasing bad debt like other banks. We forecast that 2024F/2025F BVPS could grow 21%yoy.
24
10月
The trading interest has started to spread to all cover warrants which have different underlying assets as well as trading activity also surged across groups. This is a sign of the active market. However, the adjustment from the underlying market has negatively impacted the CWs market.
23
10月
The current rebound phase is ended. Subsequent bearish candles have faded rebound phase and increase the risk for holding long positions. However, on Friday session, there is demand near MA200. Thus, traders should stay on the sidelines and wait for valid trading signal.
23
10月
In this situation, investors need to be cautious, stay on the sidelines and wait for the next reversal signal.
23
10月
This report delves into the current dynamics of U.S. G -Bond yields rising and its potential impacts on Vietnam. We explore the driving factors behind the surging yields, including term premiums, short-term rate adjustments, economic outlook, the influence of Treasury supply versus overseas demand, and Fitch’s downgrade on U.S. ratings. Additionally, we analyze the perspective of Federal Reserve leaders regarding rising yields and their potential to act as a substitute for rate hikes.
23
10月
The downside risk is still present as the VNIndex closes below the 100-period moving average. Therefore, investors should stay on the sidelines and wait for the next signals.
20
10月
The stock market has a 4th consecutive deep loss session by more than 1%, indicating selling pressure is still present. The downside risk is intact as the VNIndex remains to end below the 200-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.
20
10月
Short positions on VN30F2310 is expired. For new positions, traders should stalk the trading point on the upcoming contract VN30F2311. (Hourly chart)
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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