11
October
Market ended up to be net sold. Supply mainly spread to Real Estate, Financials, and Materials whilst demand was mainly absorbed by Vingroup's tickers such as VIC, VHM and VRE. With ETF flow, inflow has continued to come back to Vietnam last week. Net inflow was USD6mn, driven by the strong demand on FUEVFVND and VFMVN30.
04
October
Market ended up to be net sold. Supply mainly spread to Real Estate, Financials, and Consumer Staples whilst demand was mainly absorbed by Energy. With ETF flow, inflow has come back to Vietnam. Net inflow was USD10mn, a 3-month high. Similar to the previous week, the positive flow of money was mainly led by the strong demand on VanEck Vietnam and VFMVN30.
27
September
Foreign selling pressure cooled last week. Supply mainly spread to Industrials, Financials and Real Estate whilst demand was turned to Materials. With ETF flow, Vietnam has witnessed a strong divestment after its rebound in the previous week. Net outflow was surged to USD13mn, driven mainly by the outflow of VFMVN Diamond, Vaneck Vietnam and VFMVN30. It could be concluded that the flow of money on ETFs has signal to divest from Vietnam’s market even though it still remaining positive in accumulation 6M.
19
September
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.
12
September
Market ended up to be net sold. Supply mainly spread to Financials, Real Estate, and Industrials whilst demand was mainly absorbed by Energy and Consumer Staples. With ETF flow, Vietnam was divested. However, the divestment was not significant and the outflow was mainly driven by the selling pressure on VFMVN30 and VFMVN Diamond.
06
September
Market ended up to be net sold. Supply mainly spread to Industrials, Real Estate, and Materials whilst demand was mainly absorbed by Energy and Financials. With ETF flow, Vietnam was divested. However, the divestment was not significant and the outflow was mainly driven by the selling pressure on VanEck and VFMVN Diamond.
29
August
Market ended up to be net sold. Supply mainly spread to Financials, Real Estate, and Materials whilst demand was mainly absorbed by Consumer Staples and Energy. With ETF flow, Vietnam was divested. However, the divestment was not significant and the outflow was mainly driven by the selling pressure on VFMVN Diamond and VFMVN30.
22
August
Market ended up to be net bought. Demand was mainly absorbed by Materials, Financials, and Energy whilst supply mainly spread to Real Estate and Industrials. With ETF flow, inflow remained across Vietnam, mainly driven by the solid demand on major ETFs, except VFMVN Diamond and VFMVN30.
15
August
Market ended up to be net bought but demand has started to drop. Demand was mainly absorbed by Financials and Energy whilst supply mainly spread to Consumer Staples, Materials, and Industrials. With ETF flow, Vietnam experienced the outflow. Net outflow was USD2mn. However, the negative flow of money was only driven by the divestment on VFMVN Diamond. Demand has started to spread to other major ETFs which partially covered the strong outflow on VFMVN Diamond.
15
March
Regarding the impact of the global commodity price surge on Vietnam CPI, we estimate that the current value of Brent price could push 2022 inflation to exceed the government target of 4%, mainly through the consumption channel. However, implementing well-established tools allows the Vietnam government to mitigate external shocks proactively. To sum up, we forecast that the global commodity surge would create temporary pressure on Vietnam inflation.
27
December
Key factors that drive the stock market to rise in 2022 include: (1) the Vietnam economy recovering and strong growth in 2022 and (2) new money will continue to flow into the stock market as new cash flows into stock markets and new money comes from capital flows of securities companies to margin.
09
November
A record plunge in Vietnam’s economy in 3Q21 has threatened economic prospects in the medium and long term growth. The government is standing in a right place to mitigate the lingering impact of the current outbreak and the next ones if they take appropriate actions in an appropriate timing and appropriate way. Recent macro and policy developments are signaling that the ongoing economic recovery would be smooth and sound, but it needs a booster shot, a sufficiently large fiscal relief package, to accelerate recovery momentum and help economic growth back on track. From our view, the “Economic Recovery and Development” fiscal support package, if successfully passed, would be a key to unlocking the full potential of the economic recovery.
26
July
Amid a widespread COVID-19 delta attack in the Southeast Asia region, Vietnam is stepping into the worst outbreak in both its health and economic impacts. Although the government actively deployed various solutions to follow the twin target that effectively controls the pandemic and promotes socio-economic development, the negative impact of economic recovery is inevitable. We predict that the COVID-19 economic impacts on domestic consumption and production levels would be partly reflected in oncoming macroeconomic updates under strict lockdowns nationwide.
18
June
Surging commodity prices and increasing inflation recently pose a considerable risk to global economic stability. However, the majority of global economists and monetary policymakers just saw this phenomenon as a transitory factor, and this trend would eventually reverse to a normal track in the medium- and long- term. Regarding Vietnam's situation, we saw a stable demand-supply balance in major commodities and well-controlled price conditions. The inflation shock in the near term, if it happens, would be expected to be transient and bear a little risk to the economic stability.
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