30
March
MCM sets conservative FY2022F guidance of VND3,122bn revenue, +6.7% yoy and VND343.5bn NPAT, +7.6% yoy. Per management, the dairy industry is being affected by an inflationary cost, in which, the prices of animal feed, especially concentrate increased by 40-50% yoy, it happened worldwide.
30
March
The economic growth continued to strengthen at a broad base in 1Q22 thanks to strong performance in key export sectors and export-oriented manufacturing industries. Furthermore, the services sector also started picking up in the early full-reopening of services activities, while the FDI sector was significantly benefiting from the normalization. Another spotlight is that inflation remained well-controlled in 1Q22 even under surging global commodities prices. These developments build a strong foundation for a resilient recovery in 2022.
30
March
VN30F2204 is following the range movement between 1,500 pts and 1,460 pts area. The upcoming market leg is clear if there is the breakout/breakdown at those area. Traders should continue to stay on the sidelines and wait for accurate breakout/breakdown and market noise will increase in upcoming sessions
30
March
Despite the recovery, the downside risk is still intact as the selling pressure appears at the 1,510-pts threshold. Therefore, traders should still be careful and stay on the sidelines.
29
March
On Mar 29, SZC made an AGM presentation briefing for the upcoming business expansion plan. Key issues covered were the 2022F guidance and their long-term targets. In 2022F, SZC’s earnings guidance retreats by 43.2% yoy despite a flattish revenue growth forecast of 7.3% yoy, per management. Based on management's guidance of 2022F profit, 12MF PE is 42.3 times and 12MF PB is 4.7 times, remarkably higher than the 2-year median of 17.2x and 2.7x, respectively.
29
March
Last week, trading activity is more active across the cover warrant market, up 14% WoW. However, foreign trading activity dropped and continued to be net sold.
29
March
On Mar 29, Petrolimex (PLX) held the 2022 extraordinary Annual General Meeting to elect the Board of Management and Board of Supervisors members for 2021-2026F. It is the 1st time PLX elects an independent BoM member. The company also mentioned about its divestment plans in PJICO and PG Bank in 2022F and its petroleum import plan in 2022F in the context of decreasing supply from Nghi Son Oil Refinery plant.
29
March
In 2M22, MWG recorded total revenue of VND25,383bn (+16.9% yoy) and a total NPAT of VND 1,077 bn (+7.8% yoy), fulfilling 18%/17% guidance. In which, TGDD and DMX achieved VND21,300bn revenue (+20% yoy). Meanwhile, the BHX chain recorded revenue of VND3.900bn (-2.5% yoy). Per MWG, BHX’s strategy will focus on boosting sales volume through promotions which will affect temporarily the BHX chain’s profit margins in 2022F
29
March
VN30F2204 is having the tendency to retest the 1,460 pts area. Traders should continue to stay on the sidelines and wait for accurate trading signal due to the increase of volatility level in upcoming sessions.
29
March
Based on the strong bearish session, the downside risk is still intact as the selling pressure appears at the 1,510-pts threshold. Therefore, traders should still be careful and stay on the sidelines.
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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