![BMP – Review 1Q20 [HOLD] COVID-19 cannot stop Binh Minh](https://kisvn.vn/en/wp-content/uploads/sites/2/2019/09/page-phantich-m.jpg)
06
May
Binh Minh reported 1Q20 NPAT of VND102bn, up 12.3% YoY. This result is attributed to aggressive promotion program to gain market share. We expect positive results in 2Q20 thanks to lower input cost. However, in longer term, oversupply situation may remain until 2023 so that we remain our HOLD recommendation
06
May
Despite the recovery, the market sentiment has become cautious thanks to high selling pressure. The downside risk is still high in the short term. Therefore, traders should stay on the sidelines and wait for confirmation signals of a trend.
05
May
Long VN30F2005 at 710 pts, take profit at 760 pts zone and set 700 pts as an immediate stoploss level.
05
May
From our viewpoint, SBV’s intervention of withdrawing liquidity out of the banking system in early April was considered a temporary liquidity adjustment rather than a long-term tightening monetary stance. On the other side, G-bond yields were back to its downward momentum in the month, showing market participants are fleeing to safe-haven assets amid the economic turmoil due to the COVID-19 pandemic.
05
May
We catch our eyes on the progress of 2nd phase of Dung Quat as Italian engineers still cannot go to Vietnam. This delay will negatively affect the cash flow of Hoa Phat and its profitability. Moreover, we concern the large steel inventory of China. Therefore, we maintain HOLD recommendation.
05
May
We like KDH given its strong brand name in property market, healthy balance sheet and current potential upside of 21.4% for short-term investment. We believe the strong promotion packages offered to homebuyers’ of Venita Park and Lovera Vista projects will partially remove the shadow over KDH which has emerged due to the slower demand for real estate
05
May
Vietnam stock market reversed to go down thanks to the business results in 1Q20. Mainly, most companies recorded negative business results due to the effects of COVID-19. Besides, Vietnam PMI hit 32.7 in April, the lowest low since the index was published.
04
May
In this context, money outflow across Vietnam also increased slightly, recorded the net outflow at USD1.4mn. Of which, X FTSE Vietnam was the main driver which recorded an outflow at USD1.2mn last week.
04
May
Long VN30F2005 at 725 pts zone when this level is broken, take profit at 780 pts zone and stoploss at 715 pts. For short positions, sell this instrument at 660 pts when this level is broken, take profit at 630 pts and stoploss at 670 pts.
04
May
DXG’s market price has plunged sharply in the FY18-19 as the investors are doubtful on the possibility of getting license to launch Gem Riverside project. The COVID-19 impact toward brokerage segment has dragged more the price down. We believe those concerns have priced in and we think market sentiment would improve given the successful launch of Long Duc township (land lots) in 2H20F
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.
Tiếng Việt
普通话
