13
April
Despite the contraction, the short-term uptrend is still intact as the VNIndex confirms the small new rectangle pattern with the target price of 1,350 pts. Therefore, traders should hold their long position and focus on leading stocks such as Banking and Real Estate.
13
April
The short-term price objective provided by the rectangle pattern is reached. Thus, traders should stay on the sidelines and wait for the valid trigger point to re-enter the market.
12
April
We initiate coverage with a BUY rating and TP of VND70,500, based on a 10% discount to our SOP valuation. PHR is firing on all cylinders, with a promising outlook of faster approval for VSIP3 while its rubber segment continues to expand steadily. Valuation is attractive, in our view, at 7.1X FY21F PE while providing a stable dividend yield of 6.7%.
12
April
Modest economic growth in 1Q21 put pressure on the target economic growth for full-year 2021. However, there are still some factors bolstering the economy in the next quarter, including COVID-19-devastated low base output in the same period last year, ongoing economic recovery, and promising fiscal spending from the newly-formed government. Also, accelerating vaccination and fiscal reliefs on a global scale add more favors for export activity and export-driven manufacturing in the next quarter.
12
April
The VNIndex confirms the small new rectangle pattern, which is a continuation pattern. That implies the next target price will be 1,350 pts. Therefore, traders should hold their long position and focus on leading stocks such as Banking and Real Estate.
12
April
Last week, massive foreign demand entered the market. Breaking down by sectors, selling activities mainly absorbed by Financials, Energy, and Utilities whilst Real Estate and Materials attracted the most foreign demand across the market. Money inflow across Vietnam slightly dropped (down 30% WoW) due to the drop in inflow across VFMVN30 ETF (down 87% WoW) and X FTSE Vietnam (down 50% WoW) whilst VFMVN Diamond kept attracting the high level of money inflow.
12
April
We tuned in to broadcast KBC’s AGM on April 12 which briefs its stunning business plan to back to the golden times. In FY21F, KBC targets the highest record of profit after tax guidance to VND2tn, 573% yoy driven by the handover of industrial land bank and residential units mounting to VND6.6tn (3 times higher yoy). The company aims to monetize the 581ha land parcel Trang Cat townhouse project which has been idle since 2012 on the dream of reaping VND60tn gross development value.
12
April
Buy VN30F2104 when 1,260 pts level is validly broken, set the profit target at 1,280 pts area and stop the loss when 1,250 pts level is pierced.
09
April
In the short term, the index forms a small new rectangle pattern, which is a continuation pattern. If the pattern is confirmed, the next target price will be 1,350 pts. Therefore, traders should hold their long position and focus on leading stocks such as Banking and Real Estate.
09
April
The bullish market is dominant in the short term. If the VNIndex closes above the 1,250-pts threshold, the continuation pattern will form.
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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