4Q23 Strategic Insight: Pickier selection offers opportunities.
At the end of the third quarter of 2023, the VNIndex established a shorterm downtrend, targeting a range of 1,050 1,070 points, influenced by the double top pattern. We predict economic activities to accelerate in 4Q23 with a growth rate of 7.5% YoY, resulting in an increase of 5.18% YoY for 2023. of 7.5% YoY, resulting in an increase of 5.18% YoY for 2023. On the upside, we expect an impressive turnaround in exports due to the increasing demand from the U.S. and China, especially the inventories of U.S. wholesalers and retailers becoming leaner. The Banking industry could sustain in 3Q23 but we are not confident about 4Q23 given the sluggish credit growth and slower than expected NIM recovery