02
November
3Q20 business result of aviation firms remained murky with Covid-19 ghost still covering in the world. It was brought an unprecedented impact on aviation industry. This is a fiscal year with a decline in profits and debts inflated. In Vietnam, the lockdown status has been removed but international commercial flights are still delayed as quarantine process waiting for approval.
02
November
Last week, selling activities kept overwhelming. Breaking down by sectors, selling pressure continued to focus on Consumer Staples, Industrials, and Real Estate whilst IT and Financials were accumulated the most. Regarding to ETF flow, inflow ticked up across Vietnam thanks to VFMVN Diamond ETF which attracted USD0.7mn last week
30
October
On Oct 30, Masan Group released 3Q20 business results with optimistic results, compared to 2Q20 figures. In which, Masan Group delivered VND852bn NPAT post-MI in 3Q20, decreasing 61.8% yoy but increasing +337% qoq.
30
October
On Oct 30, Vinamilk announced 3Q20 official business results, which highlighted elevated earnings than those of previous quarters. In 3Q20, Vinamilk reached VND3,077bn NPAT (+14.4% yoy), mainly driven by (1) gross margin improvement of Vinamilk domestic market, (2) SG&A expense ratio decrease 1.2%p yoy và (3) better earning contribution of GTNFoods
30
October
In this case, traders should open a long position if VN30F2011 breaks out the 900-pts threshold. Stop lose at 895 pts.
30
October
Despite the recovery, the short-term downtrend is still intact as the VNIndex closes below the significant moving average. Thus, investors should decrease their proportion and stay on the sidelines
30
October
As mentioned above, the downtrend forms in the short term that pushes downside risk high. Therefore, investors should decrease their proportion and stay on the sidelines.
30
October
KDH reported a stellar 3Q20 revenue growth of 187.2% yoy to VND1.7tn and net profit growth of 22% to VND362bn on the back of first delivery batch of 800 units of Safira project. Overall, 9M20 net profit reached VND769bn, 50.5% yoy, forming 67.7% our full-year forecast
30
October
Headlines 3Q20 NPATMI slightly increased 10.8% to VND6tn, backed by impressive retail handover revenue
29
October
From 3Q20 investor meeting yesterday, TCB’s BOM confirmed the bank’s resilient fundamentals with high profitability and high asset quality. 3Q20 TOI and NP came at VND7.5tn and VND3.1tn, increasing by 40% yoy and 21% yoy respectively. Both banking and non-banking income were outstanding with NIM improvement and rosy fee growth.
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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