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In the short term, the VNIndex shows a new bottom because of pessimistic sentiment. That means the downtrend is confirmed. Therefore, traders should reduce long positions and wait for the next signals.

In Aug 2022, TLG revenue escalated 275% yoy to VND300bn, however, decreased 6% mom, as compared to the revenue in 7M22 of VND318bn. NPAT in Aug 2022 dropped by 32% mom to VND39bn but stayed positive on the yoy basis as TLG made a loss of VND28bn in Aug 2021. Back to school season promised to bring fruitful sales to TLG in 3Q22. Not to mention the lauch of new modern lines Colorkit and Pazto, which were supported by intense marketing campaigns in August and Sep 2022.

PET’s Aug performance stayed flattish with a VND1.7tn of net revenue,+30.9% yoy, and a VND24bn EBT (+4.3% yoy). EBT margin in Aug 2022 was 3.9%, 0.5%p lower yoy due to the revenue collapse of real estate leasing, which had higher profit margin than other segments. We expect the revenue to sharply rise in 2H22F thanks to the high demand of students for the new semester and the latest iPhone 14 model coming in September 2022.

SBV on Thursday decided to raise several policy rates for the first time since 2012 following the Fed’s decision of a 100bps rate hike. Besides, the central bank has significantly increased the T-bill offering with higher winning yields to ensure the new interest rate corridor would be effective. This decision implies that money market interest rates would be persistently high this year to counter the capital outflow due to a stronger DXY.

In the short term, the VNIndex retests the last bottom on July with high selling pressure. That means the VNIndex shows the pull back. However, the downtrend is confirmed. Therefore, traders should reduce long positions and wait for the next signals.

The captured short positions on VN30F2210 should be held and stop the loss only when there is the closing price above 1,250 pts level. (Hourly chart)

In the short term, the VNIndex closes below the 1,200-pts threshold, implying the confirmation for the bearish market. Therefore, traders should reduce long positions and wait for the next signals.

The captured short positions on VN30F2210 should be held and stop the loss only when there is the closing price above 1,250 pts level. (Hourly chart)

In the short term, the downtrend of the VNIndex is still intact because the VNIndex closes below the significant moving average. Therefore, traders should reduce long positions and wait for the next signals.

Market ended up to be net sold. Supply mainly spread to Financials, Industrials, and Real Estate whilst demand was mainly absorbed by Energy, Consumer Discretionary, and Consumer Staples. With ETF flow, inflow has come back to Vietnam after experiencing three consecutive weeks of outflow. The inflow was mainly driven by the slowdown of outflow on VFMVN Diamond as well as demand also spread to other major ETFs.