04
June
As of 02 Jun, our KIS universe was traded at 14.2x its 2020 earnings, higher than 2019-end PE of 13.3x. In terms of technical analysis, the VNIndex is now heading back to 900, its strong support when the pandemic broke out in early February, warning a strong selling pressure there. Although new money may continue to support the market in the coming weeks, we recommend a cautious stance in Jun
03
June
In the short term, market sentiment has become optimistic as the rebound of the VNIndex. That confirmed the short-term uptrend. Therefore, traders can hold long positions and focus on leading stocks.
02
June
As the valuation is becoming expensive, we recommend traders and investors to keep a cautious stance in the coming weeks.
01
June
As the market has been driven by liquidity recently, valuation is becoming expensive. We recommend traders and investors to keep a cautious stance in the coming weeks.
01
June
Last week, foreign selling activities slowed down, recorded a net sell value of USD4.7mn, down 32% WoW. However, Vietnam was one of the main contributor for the increase of money outflow across SEA. Of which, VFMVN30 ETF and SSIAM VNFIN Lead ETF were the main drivers, attracting USD3.9mn and USD3.7mn last week, respectively. Furthermore, VFMVN Diamond and VanEck Vietnam ETF also attracted money inflow during this period.
29
May
The uptrend has still been confirmed in the short term due to optimistic market sentiment. Therefore, traders can hold long positions and focus on leading stocks.
29
May
In this scenario, the consolidation period pushes selling pressure on the market. However, the uptrend is still intact. Hence, investors can hold their long positions and focus on leading stocks.
28
May
The short-term uptrend has still been confirmed due to the recovery yesterday. Therefore, traders can hold long positions and focus on leading stocks.
27
May
Vietnam stock market recorded the significant contraction thanks to high selling pressure on large-cap stocks at the afternoon session. Despite the sharp reduction, the short-term uptrend has been confirmed. Therefore, traders can hold long positions and focus on leading stocks.
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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