04
7月
Because downside risk is still in the short term, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
04
7月
Long position on VN30F2207 near 1,240 pts area should be held and stop the loss when there is the closing price below 1,220 pts level. (Hourly chart)
04
7月
Although the 1,200 pts zone is still held, the downtrend is still active. In this case, investors should decrease the current positions on leading stocks and wait for more accurate trading signal which would come after the demand accumulation phase.
01
7月
Based on the contraction, down side risk is still in the short term. Therefore, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
01
7月
Long VN30F2207 at 1,240 pts area and stop the loss when there is the closing price below 1,220 pts level. (Hourly chart)
30
6月
BOM of PVT shows their conservative approach in 2022F amid political and economic uncertainties. However, we expect PVT can surpass this year’s business guidance based on the hints of BOM on (1) rising transported volume/nautical mile, reflecting higher transportation demand; (2) lower vessel supply due to higher shipbuilding costs. In 2022F, the firm aims to acquire 8-10 new vessels, reflecting the ambitious to remain its leading position. Strong financial health also help the firm be flexible in raising capital to cover new Capex.
30
6月
Economic indicators in June showed a robust recovery of Vietnam’s economy thanks to favorable external and recovering domestic demands. Economic growth in the second quarter was unexpectedly high with impressive performances of both export-oriented manufacturing and services sectors. Furthermore, inflation was still under control in the context of rising global commodity prices. We expect that recovering domestic demand, backing by the pent-up demand, fiscal support, and the promising spending from foreign visitors, would be a foundation for the economic acceleration in the next quarter.
30
6月
Market sentiment has become cautious due to profit-taking. Therefore, traders should stay on the sidelines and wait for the next signal. Besides, traders should watch the double bottom pattern as the levels of the two last bottoms are the same.
30
6月
Long VN30F2207 at 1,240 pts area and stop the loss when there is the closing price below 1,220 pts level. (Hourly chart)
29
6月
Last week, trading activity kept increasing across the covered warrant market. With foreign trading activity, the market kept ending up to be net sold. Net sell value was VND3bn, 10 times higher than the previous week. Notably, covered warrants which have FPT as the underlying asset has attracted most of trading activity for 2 consecutive months, mainly driven by CFPT2203(-33%).
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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