Research Center

Despite the recovery, the VNIndex still closes below the 1,250-pts threshold. That means the index shows the bearish signals. Therefore, traders should reduce long positions and wait for next signals.

Long VN30F2209 if there is the breakout at 1,300 pts zone, stop the loss if there is the closing price below 1,280 pts level. (Hourly chart)

The 1,250 pts area is retested with the increase of demand. In this case, investors could increase the current position on leading stocks. However, margin level should be kept at low level due to the existence medium-term downtrend.

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the U.S. and various geographic areas. The CPI is widely used by financial market participants to gauge inflation and by the Federal Reserve to calibrate its monetary policy. Businesses and consumers also use the CPI to make informed economic decisions. Since CPI measures the change in consumers' purchasing power, it is often a key factor in pay negotiations.

PAN estimates 3Q22F business results with a VND3,643bn revenue (+13% qoq and +43% yoy) and a VND140bn NPAT (-39% qoq and +92% yoy). The gross margin could fall from 21% in 2Q22 to 18% in 3Q22F due to expensive input material prices. Overall, PAN could record a VND9,815bn revenue (53.3% yoy) and a VND537bn NPAT (131.7% yoy), fulfilling 69/65% of their annual guidance in 9M22F.

Flat-steel sector has overperformed the broader market throughout 2021 as they have benefitted from global supply disruption caused by COVID-19. In 2022, however, we reiterate a Neutral rating on the Flat-steel sector as we see multiple headwinds upcoming amid high-inflation and central banks' policies concerns.

Although there is the sharp decline, VN30F2209 keeps respecting the range bound as well as the demand zone is approached. If the range is held, trading point would be invalid. In this case, traders should stay on the sidelines and wait for accurate trading point.

Based on the second losing session, the downtrend may confirm in the short term. Therefore, traders should reduce long positions and wait for next signals.

The prelim export turnover of Vietnam’s textile and garment remained robust with a growth of 51.1% yoy and 8.7% mom, reaching USD4bn in August. The US persisted as the largest textile and garment importer with a USD1.74bn, +31.6% yoy/-3.0% mom, accounting for 43.6% of Vietnam's total textile and garment export value. Overall, in 8M22, Vietnam’s textile and garment export turnover soared 24.5% yoy to USD26.3bn.

Although there is the sharp decline, VN30F2209 keeps respecting the range bound. If the range is held, trading point would be invalid. In this case, traders should stay on the sidelines and wait for accurate trading point.