Tiếng Việt
普通话
14
August
Daily derivatives: Long zone for the big move
Long VN30F2008 at 780 pts zone, take a profit at 810 pts, and stop a loss at 770 pts.
Research Center
14
August
Market commentary: Small contraction
Despite the contraction, the short-term uptrend is still intact as the VN-Index closes above short-term moving averages. Therefore, traders should increase their long position and focus on leading stocks.
14
August
Chart of the day: Buy only when price collapses
As mentioned above, the positive reaction at 50% retracement level has increased the probability for the upward move. However, the upward resumption will be paused and replaced by the consolidation/sudden collapse in price this week. Thus, investors should use this opportunity for re-entering the market.
14
August
VHM – 2Q20 review [BUY +19%] Resilience amid COVID-19 uncertainty
We retain our BUY rating but raise a RNAV-based TP to VND93,500 to reflect the faster cash receipt from three bulk sale transactions. We think investors can do worse than accumulating VHM stock thanks to its leading and dominant position in the Vietnam market in both land bank and execution aspects.
13
August
Daily derivatives: Upward resumption phase
Long positions triggered at 792 pts level should not be closed, take a profit at 805 pts and stop a loss at 785 pts.
13
August
Market commentary: Aim back to resistance 880
Vietnam stock markets posted the tenth winning session yesterday since the COVID-19 outbreak in Danang late last month as the number of new confirmed case continued to decrease. Given the current upward momentum, we expect the VNIndex continue to climb higher in the coming sessions and retest resistance 880.
12
August
Market commentary: Intraday Rebound
Market sentiment has become bullish thanks to the short-term uptrend. Therefore, traders should increase their long position and focus on leading stocks.
12
August
Daily derivatives: Taking the risk/reward ratio into account
Long VN30F2008 when 792 pts level is broken, take a profit at 805 pts and stop a loss at 785 pts. Short VN30F2008 when 780 pts level is broken, take a profit at 750 pts and stop a loss immediately at 790 pts.
12
August
VPB – 2Q20 review [Hold] Growth likes no pandemic
We downgrade VPB to hold due to uncertainty of COVID-19. The return of virus in Vietnam amid peak summer holiday season may weaken domestic consumption in 2H20. As of June 2020, restructured COVID-19 loans accounted for 10.4% of the consolidated loan book.
11
August
MSN – 2Q20 review [BUY +37%] Masan Consumer to buoy 2H20 earning
We expect Masan Consumer surge to maintain earning growth pillar of Masan Group, premised by (1) revenue surge of premium products in modern trade channel, which saw revenue blossom in 1H20, (2) profit consolidation of Netsco and (3) profit margins expansion.
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.