![NT2 – Note – [BUY] – With flying colours](https://kisvn.vn/cn/wp-content/uploads/sites/3/2022/01/shutterstock_1187812387-scaled.jpg)
18
10月
In 3Q23, NT2 recorded a significant drop of 62% yoy in revenue. Gross profit and NPAT reported losses of VND 132bn and VND 124bn, respectively. The volume in 3Q23 was 365mn kWh (-59% yoy, -65% qoq), which fulfilled 52% of the 2023 plan, The average selling price was VND2,203 per kWh (+6%yoy, +6%qoq).In 4Q23, we forecast the NT2’s revenue and NPAT are VND1,161bn (-40% yoy,) and VND3bn (-43% yoy).
18
10月
The big sell orders in the ATC sessions causes the stock market to experience a 2nd consecutive deep loss session. Selling pressure suddenly intensifies again with the VNIndex maintaining to close below the 50-period moving average, indicating the downside risk is intact. However, the important support level of the 1,100-pts threshold is still not breakout. Therefore, investors should stand aside and carefully observe the next movements. The next time, if VNIndex breaks the above support level with high liquidity, investors should start to reduce a portion of stocks in their portfolio to the safety threshold.
18
10月
Short VN30F2310 after ATO session and stop the loss when there is the closing price above 1,160 pts level.
18
10月
Total September steel sales volume posted 655,880 tonnes, increased by 9.1% mom and 1.9% yoy. Construction steel volume increased to 352,930 tonnes, +11.2% yoy, +15.0% mom, +17.6% mom. The coated steel sales volume (20,970 tonnes) doubled by -5.8% yoy, +75.5% mom while steel pipes sales volume (49,906 tonnes) fell by 36.8% mom, but enlarged by 17.7% mom. The steel coil sales volume (HRC) was 234,074 tonnes (+2.6% yoy, -3.0% mom).
18
10月
Total Sep steel sales volume posted 127,058 tonnes, slight increased by 8.1% yoy but went down by 5.7% mom. - Steel coat volume made up 81.1% of the Sep total sales volume at 103,047 tonnes, -6.5% mom and +21.3% yoy. The coated steel export volume (59,649 tonnes) went down by 8.5% mom but still high compare to 2022 (+69.5% yoy).
18
10月
- Total September steel sales volume posted 53,644 tonnes, decreased by 14.1% yoy and dropped by 28.9% mom. - Steel coat volume made up 83.2% of the Sep total sales volume at 44,633 tonnes, +3.4% yoy, -32.8% mom. - The coated steel export volume (27,616 tonnes) plummeted by 43% mom but rose 19.7% yoy.
17
10月
The HoSE announced the new constituents of the VN DIAMOND Index last Monday. As per the announcement, the index will remove DHC while adding HDB in the 4Q23 review. Furthermore, the VN30Index and the VNFIN LEAD Index will rebalance its weight based on the new free-float rate, share outstanding, and price… The new weight will be effective on 06 Nov 2023.
17
10月
Due to the active correction phase, the CW market is likely to keep slowing down in the upcoming week.
17
10月
In general, demand declined significantly, while selling pressure intensified strongly again in domestic ETFs. In this case, outflow across Vietnam may persist in the next time. However, it is likely that this situation will not be prolonged, in the context of the stock market's ongoing recovery trend.
17
10月
This monthly report on Vietnam steel production is intended to track the developments in the steel market. During September 23, we observed the total sale volume also fell slightly increased by 4.7% mom, 9.8% yoy to 2mn tonnes. Total production was at 2.2mn tonnes (+4 mom, -2.7 yoy)
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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