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11
August
Daily derivatives: Solid price movement
Short VN30F2008 when 780 pts level is broken, take a profit at 750 pts and stop a loss immediately at 790 pts.
Research Center
11
August
Market commentary: Close in red territory
Despite the contraction, the short-term uptrend is still intact as the VNIndex closes above the 20-period moving average. Therefore, traders should increase their long position and focus on leading stocks.
11
August
KBC – 2Q20 review [BUY +19.4%] Positioned for a recovery post-2Q20 slump
We think the KBC’s land presales target miss in FY20F is temporary as certain land demand is shifted to 2021F due to the expected delay in lifting of travel restrictions. We believe KBC is well positioned to capture the growing interest for industrial properties (IPs), triggered by a surge in supply relocation in Vietnam’s Northern region because KBC has several tech giants in its tenant portfolio.
11
August
KDH – 2Q20 review [BUY +17.1%] Strong earnings visibility
We adjust upward our RNAV-based TP to VND28,200 thanks to RNAV contribution from two new landed property projects including Amerna (Dist 9) and Clarita (in Dist 2) as we have much clearer launching plan. We believe the strong promotion packages offered to homebuyers’ of Amerna and Clarita projects will partially remove the shadow over KDH which has emerged due to the slower demand for real estate.
10
August
Daily derivatives: Bullish momentum is faded
Short VN30F2008 at 770 pts level, take a profit at 750 pts and stop a loss immediately at 775 pts.
10
August
Market commentary: Narrow intraday gains
Based on the confirmation of the island reversal pattern, the uptrend is still intact in the short term. Therefore, traders should increase their long position and focus on leading stocks.
10
August
Fundflow 03-07 Aug: Five consecutive weeks of inflow into SEA
Last week, foreign selling activities overwhelmed. Breaking down by sectors, Real Estate, Utilities, and Consumer Staples were sold the most whilst Financials, Materials, and Industrials experienced the solid foreign buying activities. Regarding to ETF flow, Vietnam maintained the positive flow of money but the inflow has slowed down, recorded at USD1mn whilst the flow of money across SEA remained positive for five consecutive weeks.
10
August
Market commentary: Fifth gaining session in a row
The short-term uptrend is still intact due to the confirmation of the island reversal pattern. Therefore, traders should increase their long position and focus on leading stocks.
10
August
Daily derivatives: Unclear movement
Short VN30F2008 at 770 pts level, take a profit at 750 pts and stop a loss immediately at 775 pts.
10
August
Chart Of The Day: Retest 50-period moving average
Base on the Island Reversal pattern, the bullish market is dominant in the short term. Besides, market sentiment has become optimistic. Therefore, investors should increase their long position and focus on leading stocks such as Banking and Energy.
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.