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Despite the contraction, the short-term uptrend is still intact. Therefore, traders may hold long positions focusing on the leading sectors.

Although the rebound phase is active, minor correction has high probability to occur. In this case, investors could increase the current position on leading stocks when 1,250 pts area is retested. However, margin level should be kept at low level.

In 1H22, BSR's net revenue and NPAT-post MI increased +78% yoy and +252% yoy to VND87.2tn and VND12.5tn, respectively thanks to rising global oil prices and crack spread. The company sets ambitious 2H22’s targets with output, revenue and EBT of 3.2mn tonnes, VND46tn and VND738bn, respectively. BSR expects to be officially listed on HSX after the AGM in 2023.

In the short term, the VNIndex shows the bullish market thanks to the Bullish Engulfing pattern. Therefore, traders may hold long positions focusing on the leading sectors.

Although VN30F2209 has attracted buying activity near the demand zone, buy point is still not confirmed. In this case, traders should stay on the sidelines and wait for accurate trading point.

The VNIndex shows the bullish market thanks to the Bullish Engulfing pattern. Therefore, traders may hold long positions focusing on the leading sectors.

Although VN30F2209 has attracted buying activity near the demand zone, buy point is still not confirmed. In this case, traders should stay on the sidelines and wait for accurate trading point.

Short-term interbank rates have eased under significant maturity of T-bills in recent weeks, followed by lower G-bond yields. However, we see that the liquidity relief could be short-dated when the USD-VND interest rate spread has increased, putting upward pressure on the USDVND. SBV significantly advanced the T-bill offering this week as a response to stabilize the exchange rate. Interest rates in the money market, therefore, could return to the upturn in the next weeks.

PNJ’s net revenue in July 2022 increased to VND2.5tn, up 413.6% yoy (-4% mom). Net profit in July 2022 positively rose to VND79bn (-4% mom, vs loss of VND32 in July 2022). For 7M22, revenue surged by 70.9% yoy to VND20.7tn, and NPAT climbed by +66.1% yoy to VND1,167bn, which fulfilled 80.2% and 88.4% of guidance.

The VNIndex shows a Bullish Engulfing pattern, implying a short-term uptrend. Therefore, traders may hold long positions focusing on the leading sectors.