Tiếng Việt
普通话
27
July
Daily derivatives: Rebound phase is paused
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)
Research Center
26
July
Covered warrant 18-22 Jul: Trading interest shifts to HPG and STB
Last week, trading activity increased slightly across the covered warrant market. With foreign trading activity, foreign selling pressure came back. Net sell value was VND3.9bn. Notably, trading interest has shifted to cover warrants which have HPG and STB as the underlying asset.
26
July
TNH – 2Q22 Earning Note
TNH issued 2Q22 business results with a VND119bn (+33% qoq and +9% yoy) revenue and a VND38bn (+137% qoq and +11% yoy) NPAT. Sales growth in 2Q22 confirmed the return of patients to hospitals and we believe the upward trend could continue for the healthcare industry in general and TNH in specific in next quarters.
26
July
QNS – Brief – Solid soy milk compensated for the sluggish sugar segment
In 2Q22, QNS recorded revenue of VND2,201bn (+9.1% yoy) and NPAT of VND365bn (+1.2% yoy), prompting 1H22 revenue to go up 9% yoy to VND4,014bn and 1H22 NPAT climb 4% yoy to VND541bn, fulfilling 50%/54% of guidance. Revenue and earnings growth were driven by the soy milk segment. In contrast, the sugar segment was hit by Thailand’s sugar imported from other Asian countries.
26
July
Daily derivatives: Consolidation phase
Long VN30F2208 near 1,220-1,225 pts area and stop the loss when there is the closing price below 1,215 pts level. (Hourly chart)
26
July
Market commentary: Selling pressure at 1,200-pts zone
In the short term, the market sentiment has become cautious. Therefore, traders should stay on the sidelines and wait for the next signal.
25
July
Insurance – Sector Brief – May updates: Double-digit growth for non-life players
Total insurance premium accumulated in 5M22 was pegged VND94,681bn (+14.4% yoy). In which, life insurance premium increased by 14.8% to VND66,714bn; non-life insurance premium also surged by 13.3% to VND27,967bn. Top 5 players in non-life insurance reached double-digit growth rates in first five months, except Bao Viet. MIC insurance premium increased 33.4% yoy, the most impressive in top five, and took the fourth place from Bao Minh.
25
July
PGV – Brief – Exchange loss damaged 1H22’s business results
EVNGENCO 3 (PGV) announced its 2Q22 business results with revenue of VND11,891bn (+13% yoy) and NPAT-post MI of VND407bn (-52% yoy). In 1H22, PGV recorded VND22,796bn revenue (+16% yoy) and VND1,255bn profit (-23.5% yoy). The loss was mainly bolstered by the sharp increase of exchange loss. We estimate that thermal power price and output, PGV’s main revenue generators would drop owing to abundant volume from other hydropower makers in 3Q22.
25
July
Fundflow 18 – 22 Jul: VFMVN Diamond keeps experiencing the outflow
Market ended up to be net bought. Demand was mainly absorbed by Consumer Staples, Consumer Discretionary, and Financials whilst supply mainly spread to Real Estate, Materials, and IT. With ETF flow, outflow remained across Vietnam. The negative flow of money was mainly driven by the divestment on VFMVN Diamond and VanEck Vietnam.
25
July
Daily derivatives: Volatile trading environment
Long VN30F2208 near 1,220-1,225 pts area and stop the loss when there is the closing price below 1,215 pts level. (Hourly chart)
Featured Articles
15
March
Point Break
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
Outlook 2022 – The Big Uptrend
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
Time to bet on economic recovery?
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
Fragile hope of recovery path under the worst outbreak
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
INFLATION: A transient or long-lasting shock?
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.