Tiếng Việt
普通话
28
April
Daily derivatives: Bearish momentum is not faded
Long VN30F2105 at 1,220-1,240 pts zone and stop the loss when there is the closing price below 1,190 pts level (Hourly time frame).
Research Center
27
April
NVL – AGM brief – Transformation in progress
We remain conservative on this move as we observe that the hospitality market is slowing down and takes time to bounce back. Risks of high leverage and of potentially diluted shares from a US$600mn convertible bond result in us rate a Neutral on NVL.
27
April
Market commentary: The short-term correction
The collapse has confirmed the short-term correction phase. However, uptrend is still maintained in wider time frame as well as 1,200 pts level will set the strong demand zone for the market. In this case, investors should buy leading stocks when VNIndex positively reacted with this area.
27
April
BMI – 1Q21 & AGM Brief – Flourishing financial profit is the highlight
The profit from financial activities was impressive with VND 63bn (+530 yoy), this is the highest quarterly figure recorded for 10-year period. The Board of Director proposed a conservative revenue target which is equal to 2020 actual revenue. But they aimed to improve the business efficiency when decreasing the claim amount and expense plus with strong financial income.
27
April
Daily derivatives: Retest the important support zone the second time
Long VN30F2105 at 1,220-1,240 pts zone and stop the loss when there is the closing price below 1,190 pts level (Hourly time frame).
27
April
Fundflow 19–23 Apr: Inflow across Vietnam reaches the all-time high
Last week, foreign selling activity continued to overwhelm. Breaking down by sectors, selling activities mainly absorbed by Materials, Real Estate, and Financials. Money inflow across Vietnam skyrocked, net inflow was USD58mn, reaching the all-time high thanks to the massive flow of money which flew to Fubon FTSE Vietnam ETF (USD60mn).
26
April
Aviation – Sector Review [Neutral] The attempt on long way
Despite the deep challenges facing aviation because of the pandemic, we believe aviation is an attractive long-term investment. The main reasons are 1) The world is getting steadily richer—about half the world is now middle class or richer so tourism demand continues to rise, 2) A tech revolution in the aviation industry make air travel safer before the pandemic and 3) Ancillary revenue has taken off, promote greater cash flow.
26
April
NLG – AGM brief – Strong income visibility
The company sets a target to post a VND1,152bn net profit, 37.9% yoy driven by a VND4.9tn revenue, 123.8% yoy. Per management, FY21F net profit also includes 1) a VND429bn goodwill income thanks to a further 30.1% stake acquisition to 65.1% of Waterfront (Izumi) project, and 2) a VND400bn financial income from a 50% stake transfer in Dai Phuoc project
26
April
Market commentary: Pull trap?
Despite the recovery, the downside risk is still intact in the short term. Therefore, traders should be careful. If selling pressure is still intact today, traders should reduce their long position.
26
April
Chart of the day: We are still in the healthy uptrend
As mentioned above, we are still in the healthy uptrend. In this case, investors should hold the current positions and buy more on the first pullback (when 1,200 pts zone is retested).
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.