26
7月
Market ended up to be net bought. Demand was mainly absorbed by Consumer Staples, Consumer Discretionary, and Financials whilst supply mainly spread to Real Estate, Materials, and IT. With ETF flow, outflow remained across Vietnam. The negative flow of money was mainly driven by the divestment on VFMVN Diamond and VanEck Vietnam.
26
7月
EVNGENCO 3 (PGV) announced its 2Q22 business results with revenue of VND11,891bn (+13% yoy) and NPAT-post MI of VND407bn (-52% yoy). In 1H22, PGV recorded VND22,796bn revenue (+16% yoy) and VND1,255bn profit (-23.5% yoy). The loss was mainly bolstered by the sharp increase of exchange loss. We estimate that thermal power price and output, PGV’s main revenue generators would drop owing to abundant volume from other hydropower makers in 3Q22.
26
7月
Long VN30F2208 near 1,220-1,225 pts area and stop the loss when there is the closing price below 1,215 pts level. (Hourly chart)
26
7月
In the short term, the market sentiment has become cautious. Therefore, traders should stay on the sidelines and wait for the next signal.
26
7月
Total insurance premium accumulated in 5M22 was pegged VND94,681bn (+14.4% yoy). In which, life insurance premium increased by 14.8% to VND66,714bn; non-life insurance premium also surged by 13.3% to VND27,967bn. Top 5 players in non-life insurance reached double-digit growth rates in first five months, except Bao Viet. MIC insurance premium increased 33.4% yoy, the most impressive in top five, and took the fourth place from Bao Minh.
25
7月
PNJ posted its preliminary 2Q22 business results with revenue of VND8,058bn (+81% yoy) and NPAT of VND367bn (+65% yoy). For 1H22, revenue was VND18,210bn (+56% yoy) and NPAT was VND1,088bn (+48% yoy), which fulfilled 70.5% and 82.5% of guidance. This implies that June-22 revenue and NPAT were VND2,627bn (-1.6% mom, +160% yoy) and VND82bn (-41.4% mom, +64% yoy), respectively.
25
7月
In 2Q22, DGC released the highest result through their operation with a revenue of VND4,002bn (+96% yoy and +10% qoq) and a NPAT of VND1,894bn (+469% yoy and +26% qoq) mainly thanks to high selling prices of yellow phosphorus (P4). Although the reducing in trading volume, P4 export price was shine in 2Q22. Unsurprisingly, P4 export revenue accounted for 69% of DGC’s total revenue in 2Q22.
25
7月
In 2Q22, Nam Viet posted VND1,294.5bn (+20% yoy) mainly assisted by the 1.05x yoy increase of pangasius export revenue due to the high demand of Asian, EU, and American markets, and VND240.7bn (+9.1x yoy), bolstered by yoy soar of GPM. In 3Q22, we expect that could record a topline jump driven by prosperous demand of pangasius, export volume to China market could increase from 10% in 5M22 to 20-30% in 3Q22 of ANV export value while ASEAN keeps bull demand in 3Q22.
25
7月
On July 20, Tien Phong Securities (ORS) announced financial report for 2Q22. Revenue was VND661.6bn (-18% qoq, +132% yoy) and net loss was VND128.9bn. In 1H22, ORS recorded VND1,472.6bn revenue (+172% yoy) and VND92.5bn net profit (-38.6% yoy). The net loss in this quarter is mainly due to a surprising loss in FVTPL portfolio.
25
7月
NLG’s revenue boom 209.6% yoy to VND1,241bn in 2Q22 driven a VND1,146bn property sale (47.8x yoy). Contrary to spectacular revenue growth, net profit/NPATMI swelled by +299.4/135.4% yoy to VND192/111bn. In 2022 AGM on Apr, 23, the management expected 2Q22 net profit could book a VND444bn financial gains from revaluation in Paragon Dai Phuoc project when doing business cooperation with a Japanese partner. However, the land investigation from the governmental agencies is slowing the process and the company is waiting for approval to complete the transaction in 3Q22F
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.
English
Tiếng Việt