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NT2 posted its revenue at VND2,206bn, down 21%yoy due to (1) lower mobilization volume (-9%yoy) and (2) lower average selling price (-20%yoy). However, gross profit was only at VND15,069bn, a significant 60%yoy reduction. The GM decreased to 7% from 15% in 2Q22 mainly due to lower selling price. On above effect, NPAT also recorded VND144bn, a 60%yoy down. The mobilization volume in 2Q23 was kwh1.05bn (-9%yoy, -2%qoq), which fulfilled 52% of the 2023 plan. Average selling price was VND2,071 per kWh (- 13%yoy, +2%qoq).

ACB released its results with 2Q23 PBT was down 1.7% yoy (to VND4,832bn) due to a high provision expense (+383%yoy). Strong TOI growth (+15.9% yoy) was the key contributing factor. Accumulated results, 1H23 PBT rose 10.6%yoy to VND9,989bn, completing 50% of 2023 target.

HT1’ revenue decreased 16.2% yoy to VND1,998bn in 2Q23 while the NPAT was back to positive with VND58.7bn (-58.9%yoy) thanks to the high-cost input material was fully cleared out. The gross margin was improved from 4.5% in 1Q23 to 10.3% in 2Q23.

Long positions on VN30F2307 should be held and stop the loss when there is the closing price below 1,140 pts level (Hourly chart). For new entry, traders should wait for the trading point on upcoming contract.

The stock market only experiences a slight decline with improved liquidity, indicating that investors' hesitation is still present. Inflow remains relatively cautious after a series of consecutive gain sessions, while profit-taking pressure remains weak. Nevertheless, the uptrend maintains a positive signal as the VNIndex still ends above the 50-period moving average. Therefore, investors should hold long positions and focus on leading stocks.

DHA’s revenue increased by 5.4% yoy to VND100.79bn in 2Q23 while the NPAT posted VND35.30bn (1970% yoy). DHA's gross profit increased significantly by 39.5% yoy. NPAT growth is also come from VND 21.5bn reversal of provision for the investment in HPG stock.

Long positions on VN30F2307 should be held and stop the loss when there is the closing price below 1,140 pts level (Hourly chart). For new entry, traders should wait for the trading point on upcoming contract.

The market slows down however the VNIndex still ends in the green territory, indicating the investors' hesitation sentiment. Moreover, the downside risk is still present around the 1,180-1,200 pts zone. Therefore, investors should hold long positions and wait for the next signals.

Despite the pickup in June lending performance, the excessive liquidity in the banking system persists mainly due to the government’s urge for more dovish actions from SBV to bolster economic activities and the abnormal value of bond issuance from banks in recent weeks. Hence, the ON interbank rate hit its three-year low at 0.07%. At the same time, the bright U.S. inflation readings help alleviate the upward pressure on USDVND over the week. Overall, we expect a further dovish movement from SBV in the upcoming weeks to support economic growth when the slowdown in U.S. inflation becomes more visible.

Total May steel sales volume posted 80,917 tonnes, increasing 4.5% mom and decreasing 1.5% yoy. The 6M23 total sales volume came in at 430,331 tonnes, -16.9% yoy. In which, the steel coat volume declined 18.1% yoy to 357,437 tonnes and the steel pipes volume was down by 10.3% yoy to 72,894 tonnes