![Steel-Brief-[NEUTRAL]-Sales volume continued to improve on m-o-m basis](https://kisvn.vn/en/wp-content/uploads/sites/2/2019/09/page-phantich-m.jpg)
18
April
This monthly report on Vietnam steel production is intended to track the developments in the steel market. During Mar 23, we observed an contiuing improvement in total sales volume on m-o-m basis.
17
April
Vietnam is one of the top 3 largest shrimp exporting countries in the world, making up about 10.1% market share of the global shrimp exporting industry value. In 2023, shrimp market was projected to slow down. Yet, we believe that the Vietnamese shrimp industry's growth rate will increase till 2030.
14
April
We initiate an Overweight rating on Oil & Gas industry as we see multiple tailwinds in the middle-term and long-term outlook due to expectations of reactive upstream and midstream projects. We also have BUY ratings on PV Drilling (PVD VN) and PV GAS (GAS VN). PVD is expected to turn around and could enjoy high growth of earnings in the next 3 years due to higher jack-up rates, meanwhile, GAS is the largest listed company in the sector with strong finance ratios and many planning midstream projects to supply natural gas pipelines and import LNG to fill high power demand of Vietnam economy.
11
April
Mar export value of Vietnam’s T&G improved on a monthly basis largely based on the recovery in US market. Nonetheless, the Mar and Feb decent performance could not enlighten the 1Q23 tepid outcome with USD7.2bn, -17.4% yoy. Vietnam’s fiber and yarn (F&Y) export value remarkably slid 29.0% yoy but rose 11.0% mom to USD376mn in Mar. Following Feb’s solid industry growth, the Feb export revenue of most listed companies was favorable.
07
April
Average daily trading value (ADTV) kept dropping to VND11,332bn (-18.3% qoq, -63.7% yoy) in 1Q23. The quarterly number of new accounts in 1Q23 marked the lowest since 1Q21 with 140,024 new accounts opening (-50.7% qoq, -79.3% yoy). VPS ranked 1st position in the HSX’s brokerage with 15.67% market share, +0.86%p qoq in 1Q23. This was also the highest market share in company history. The runner up was SSI with 11.53%, +1.57%p qoq.
30
March
Rice export volume rocketed by 109% mom and 80% yoy to 900,000 tonnes. Meanwhile, rice exporting value surged by 108% mom and 95% yoy to USD480mn in Mar-23.
14
March
This monthly report on Vietnam steel production is intended to track the developments in the steel market. During Feb 23, we observed an improvement in total sales volume on m-o-m basis.
10
March
Domestic production capacity has exceeded current domestic demand by at least 40%. Due to the falling price of fertilizer, farmers are postponing purchasing fertilizer, that led to a very high inventory and low sales of fertilizer in 1Q23.
09
March
The prelim export turnover of Vietnam’s textile and garment slightly increased 11.1% yoy and 1.9% mom to USD2.3bn in February. The export to the US (the largest textile and garment export market of Vietnam) fell 6.7% yoy and 2.8% mom to USD964mn, making up 42% of Vietnam's total textile and garment export value. We think 1Q23F is full of difficulties for the textile industry when it could suffer a dip in apparel demand, especially in the US market. However, we expect that the outlook will be brighter thanks to the recovery of orders in 2Q23F.
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.
Tiếng Việt
普通话
