24
10月
The bearish momentum has shown no sign of weakness. Besides, there is high probability for the VNIndex to retest 950-1,000 pts zone. Therefore, investors should stay on the sidelines and take action only when the solid bottom is formed.
24
10月
Starting the 2022 Fall wedding season, PNJ’s net revenue in Sep 2022 rocketed by 1,017% yoy to VND2.5tn. Net profit in Sep 2022 increased 20% mom to VND94bn (vs loss of VND49 in Sep 2021). Accumulating 9M22, revenue surged by 104% yoy to VND25.5tn, and NPAT shoot up by +133% yoy to VND1,340bn, correspondingly fulfilling 99% and 102% of guidance.
24
10月
NLG’s revenue boomed 484.1% yoy to VND882bn in 3Q22 driven property sale (VND857bn, +166.3x yoy). Contrary to spectacular revenue growth, net profit drop 82.7% yoy to VND51bn. On the contrary, we are concerned with the presale target. In 3Q22, the company reaped VND1,512bn presale value, prompting a VND9,922bn unbilled booking sales in 9M22. The amount is far below the full-year target of VND23tn.
24
10月
Manufacturing and Service industry both play essential role in boosting the social and economic development. A vibrant manufacturing and service base leads to more research and development, innovation, productivity, exports, and middle-class jobs. Furthermore, manufacturing and service help to raise living standards more than any other sector. The PMI plays an important role in helping financial market participants in making decision.
24
10月
STK announced 3Q22 IR News on Oct 20, which delivered a dismal performance. Specifically, the company posted 3Q22 business results with revenue of VND515bn (+10% yoy) and NPAT of VND50bn (-20% yoy). Overall, in 9M22, the company recorded revenue of VND1,686bn (+9% yoy) and NPAT of VND197bn (-3% yoy), fulfilling 65%/66% full-year guidance.
20
10月
On October 18th, Tien Phong Securities (ORS) announced financial report for 3Q22. Revenue was VND550bn (-17% qoq, +57% yoy) and net profit was VND71bn (+138% yoy). In 9M22, ORS recorded a VND2,022.6bn revenue (+127% yoy) and a VND163bn net profit (-9.6% yoy). The company completed 102% of revenue guidance but lagged behind profit guidance by 33% due to a large loss in 2Q22.
20
10月
Imexpharm (IMP) issued 3Q22’s business results on Oct 18, with a revenue of VND418bn (+63% yoy and +18% qoq) and a NPAT of VND56bn (+81% yoy and +19% qoq). 9M22 revenue and NPAT were VND1,087bn/VND155bn (+25%/+27% yoy), fulfilling 52%/48% of their annual guidance.
20
10月
In this case, traders should close the current short positions and wait for the valid trading signal on the upcoming contract (VN30F2211).
20
10月
HND posted its 3Q22 business results with revenue of VND3,070bn (+40% yoy) and PAT of VND41bn (+559% yoy). This implies that 9M22’s revenue and PAT were VND8,273bn (+22% yoy) and VND578bn (+216% yoy), respectively and completed 78%/ 102% of full year guidance.
20
10月
On Oct 18, DHG announced 3Q22 business results with a VND1,162bn revenue (+4% qoq and +23% yoy) and a VND262bn NPAT (+12% qoq and +30% yoy), due to the low base in 3Q21. In 9M22, DHG posted the revenue of VND3,346bn (+15% yoy) and the NPAT of VND752bn (+24% yoy), fulfilling 74%/83% of their full year guidance.
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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