29
7月
TCM posted modest business results in 2Q22 with revenue of VND1,049bn (+7.2% yoy, -6.5% qoq) and NPAT of VND55bn (-6.2% yoy, -25.1% qoq). After a challenging 2021 with negative earnings growth, in 1H22, the company recorded VND2,171bn (+12.7% yoy) in revenue and VND129bn in NPAT (+6.6% yoy).
29
7月
Vinhomes recorded its 2Q22 sharp plunge of both the revenue and NPATMI, by 83.8/95.2% yoy, prompting 1H22 revenue to drop to VND13.4tn (-67.2% yoy) and NPATMI to tumble to VND5,048bn, (-68.3% yoy). Overall, 17,300 units has been sold with a VND92.5tn contracted sales, bringing unbilled booking value of VN129.3tn (VND28tn bulk sale) as of end-2Q22.
29
7月
The June performance witnessed the decline in export volume, however, export still remains as the key growth driver in 6M22. Weak demand in 2Q22 dragged overall performance. The total 2Q22 sales volume was 260,265 tonnes (+1.1% qoq but -6.4% yoy). In which, domestic demand dropped significantly by 30.6% yoy, 14.8% qoq.
29
7月
This monthly report on Vietnam steel production is intended to track the developments in the steel market. During June 22, we observed the weak demand in both domestic and export markets. We expect the trend to continue in next 3 months.
29
7月
We witnessed the slump in performance of FY9M2022 on year-on-year basis caused by weak sales volume in first 6 months of 2022. 2Q22 total sales volume was at 416,838 tonnes (-9.6% qoq, -34.3% yoy), which showed a significant drop in demand from both domestic and export channels.
29
7月
The June performance witnessed a temporary revival as agents re-stocked the inventories. HPG is expected to continue seeing weak domestic market demand amid high inflation concerns and the rainy season.
29
7月
The VNIndex appears a breakout with high volume, implying a bullish market. Therefore, traders may open small long positions focusing on the leading sectors such as Banking.
29
7月
In 2Q22, QNS recorded revenue of VND2,201bn (+9.1% yoy) and NPAT of VND365bn (+1.2% yoy), prompting 1H22 revenue to go up 9% yoy to VND4,014bn and 1H22 NPAT climb 4% yoy to VND541bn, fulfilling 50%/54% of guidance. Revenue and earnings growth were driven by the soy milk segment. In contrast, the sugar segment was hit by Thailand’s sugar imported from other Asian countries.
28
7月
Despite the recovery, the downside risk is still intact in the short term. Therefore, traders should stay on the sidelines and wait for the next signal.
28
7月
Long position on VN30F2208 near 1,220-1,225 pts area should be held and stop the loss when there is the closing price below 1,215 pts level. (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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