10
August
Vinh Hoan can post VND1,198bn revenue (+48% yoy) in July, assisted by +44% yoy of pangasius export. The increase of pangasius export thanks to the export price uptrend (+18% mom and +45% yoy). Yet, the volume export slightly decelerated after peak April, recording -7% mom and -8% yoy.
10
August
Long position on VN30F2208 near 1,220-1,225 pts area should be held and stop the loss when there is the closing price below 1,215 pts level. (Hourly chart)
10
August
The VNindex has formed a corrective pattern, almost like a Bearish Spinning Top. That means the index may move sideways or correct in the next few sessions. However, the uptrend since July is still intact. Therefore, traders may hold long positions focusing on the leading sectors.
09
August
Overall, SAB recorded an impressive 2Q22 business result with a VND9.0tn revenue (+24.7% yoy), and a VND1,793bn PAT (+67.4% yoy). It prompts 1H22 SAB revenue and PAT to go up 25% and 48% to VND16.3tn and VND3.0tn, respectively. Higher revenue was contributed from both higher volume and selling prices. Beer consumption had been recovering continuously due to the normalization of social activities. SAB also increased selling prices easily amidst higher demand.
09
August
DCM posted 2Q22 business results with a VND4,084bn (+118% yoy and +0.2% qoq) revenue and a VND1,039bn (+250% yoy and -32% qoq) NPAT. It was a very surprising result when the market expected lower sales along with the downtrend of the fertilizer sector. DCM’s revenue in 2Q22 went sideways compared to the previous quarter thanks to a significant contribution from trading revenue. Sales from trading products increased from VND134bn in 1Q22 to VND796bn in 2Q22.
09
August
This quarterly earnings report on Vietnam steel production is intended to track the earning growth trend in the steel market. In 2Q22, we saw the revenue growth pace in 2Q22 just slightly declined by 2.4% yoy thanks to the good selling price while NPATMI growth dropped significantly by 67.4% yoy. Net profit growth pace in last 2 quarters was significantly hit by heavier material costs. We also see the high material costs still partly affect the margin in 3Q22 due to inventories cycle. In 3Q22, we expect the total consumption volume (finished steel products and HRC) will positively grow at 2.6% yoy thanks to the low base in 3Q21 caused by the COVID-19 lockdown.
09
August
Last week, trading activity decreased slightly across the covered warrant market. With foreign trading activity, trading activity kept increasing in both supply and demand. However, selling pressure continued to overwhelm supply. Net sell value was VND2bn. Notably, trading interest from domestic and foreigners have shifted to cover warrants which have STB and HPG as the underlying asset.
09
August
Long position on VN30F2208 near 1,220-1,225 pts area should be held and stop the loss when there is the closing price below 1,215 pts level. (Hourly chart)
09
August
Based on the recovery, the uptrend is still intact in the short term. Therefore, traders may hold long positions focusing on the leading sectors.
08
August
Interest rates in the money market remained high this week as the thirst for short-term liquidity was unresolved. SBV has reduced its support to the banking system with a lower 7-day repo offering than the previous week. Besides, spot USDVND backed to approach SBV’s selling price as DXY returned to its uptrend with the strong release of the U.S. labor market.
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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