09
November
Last week, selling activities kept overwhelming. Breaking down by sectors, selling pressure continued to focus on Consumer Staples, Materials, and Real Estate whilst IT and Health Care were accumulated the most. Regarding to ETF flow, inflow ticked up across Vietnam thanks to SSIAM VNFIN Lead ETF which attracted USD2.7mn last week.
09
November
Market sentiment has become cautious in the short term as the U.S. presidential election results are not exact. Therefore, investors should stay on the sidelines and wait for the next signal.
06
November
As mentioned above, the collapse will not last long due to the maintenance of the long-term bullish market. Thus, investors should use bargain hunting strategy on leading stocks, buy more when price collapse.
06
November
Long positions captured at 914 pts zone should not be closed, take a profit at 950 pts and stop a loss at 895 pts.
06
November
On Nov 06, Vinamilk held 3Q20 online analyst meeting to update more details about Vinamilk’s business results. In 9M20, Vinamilk reached optimistic revenue growth of dairy products beneficial to human resistance. However, extending impact of pandemic in export markets and the Central flood can have negative impact on Vinamilk's domestic revenue in 4Q20.
06
November
The downside risk is still intact in the short term because the U.S. presidential election results are not exact. Therefore, investors should stay on the sidelines and wait for the next signal.
05
November
In October, interbank rates and bond yields continue to stay at historic lows as the current liquidity condition remains abundant. Looking forward to November, in the scenario that lending activity accelerates under the favorable seasonal effect in the fourth quarter, we expect interbank rates and G-bond yields to pick up from the bottom.
05
November
Long positions captured at 914 pts zone should not be closed, take a profit at 950 pts and stop a loss at 895 pts.
05
November
The economy continued to gain upward momentum in October thanks to domestic-driven factors. Briefly, trade, IIP, and retail sales continued growing robustly in a stable inflation environment. Looking forward, the 2nd lockdown in large European economies, the 3rd largest trade partner, will once again put great uncertainty on the economic growth, but this time we believe the economy knows how to live with it. Besides, domestic consumption-driven sectors are and would be in good shape in 4Q20.
04
November
Masan Group is ambitious to achieve 2021 NPAT of VND4,000-6,000bn, lead by the yoy earning growth of all business segments. VinCommerce targets to extend its trend of profit margin improvement thanks to (1) increasing the presence of products with high revenue and high profit margins, (2) promoting price promotion to increase VinCommerce’s price competition against its rivals and (3) achieving yoy widening EBITDA margin, driven by the closure of more than 400 stores in 2020.
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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