Tiếng Việt
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02
February
Daily derivatives: It’s time for entering the long
Long VN30F2102 after the ATO session and only out positions when 1,045 pts level is broken.
Research Center
02
February
MSN – AM Brief [Hold] 2021 yoy revenue grow to reach 20-40%
Masan Group announced its draft 2021 actual plan, including 20-40% revenue growth, EBITDA margin of 15-20% and net margin of 3-5%. To fulfill revenue growth target, VinCommerce will focus on three pillars: (1) increasing the presence of fresh foods in both Vinmart+ and Vinmart, (2) focusing on the efficiency of sales department and operational department and (3) developing fresh food logistic by co-operating with independent partners.
02
February
MSN – 4Q20 Brief [Hold] Spotlight from Consumer segment
On Jan 29, Masan Group released 4Q20 & 2020 business results with VND77,218bn consolidated revenue (+106.7% yoy) and VND1,395bn consolidated NPAT (-78.1% yoy) in 2020, backed by the earning pillars of Masan Consumer and Masan MEATLife while VinCommerce witnessed the improvement of profit margins.
02
February
Daily derivatives: Selling pressure maintains at high level
Traders should stay on the sidelines and wait for more signal to capture the upcoming market swing.
01
February
MBB – 4Q20 review [BUY +35.2%] Skyrocketed 4Q20’s credit growth
We upgrade 2021 NP to VND10.3tn (+17% vs. 3Q20 review), up 24.3% yoy, given changes in key assumptions related to credit growth, credit cost and non-interest income in order to reflect 2020 outcomes and 2021’s initial guidance. We lift TP by 20% (from VND24,200) to VND29,150 and reaffirm BUY.
01
February
Market commentary: Sell-off in ATC session
The market sentiment has become pessimistic in the short term due to the bearish market of the VNIndex. Thus, traders should reduce long positions and wait for the next signals.
01
February
01
February
Fundflow 25 – 29 Jan: Vietnam – The main driver
Last week, buying activities ticked up. Breaking down by sectors, selling activities mainly absorbed by Materials, Industrials, and Consumer Staples whilst Real Estate and Financials attracted the most foreign demand across the market. Regarding to ETF flow, Vietnam maintained the positive flow of money thanks to VFMVN Diamond and SSIAM VNFIN LEAD ETF which attracted the total of USD24mn last week.
01
February
Market commentary: Demand zone is hit
The short-term correction is confirmed but the market has found the solid short-term support at 1,000 pts area. Thus, the consolidation phase is expected to enter this week and investors should act only when the new market leg is confirmed when the consolidation phase is ended.
01
February
Chart of the day: Slow is fast and less is more
As mentioned above, there is no signal for the bearish momentum in the medium- and long-term as well as we are still in the uptrend. Thus, investors should hold the current positions and captured positions at the buy zone (1,000-1,080 pts) and take action only when the next market leg is clear.
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.