04
May
Daily derivatives: Poor trading environment
Traders should stay on the sidelines in order to avoid false trading signals.
04
May
Traders should stay on the sidelines in order to avoid false trading signals.
04
May
Despite the recovery, the VNIndex shows a bearish market in the short term due to closing below the 50-period moving average. That means the downside risk is still intact. Hence, traders should be careful and reduce long positions.
04
May
Selling pressure near 1,050 pts zone is still not fully absorbed. Therefore, investors stay on the sidelines and wait for the valid breakout signal of the triangle pattern to accurately define the next market leg.
28
April
HSG’ revenue decreased significantly 44.8% yoy to VND6,980bn in 2QFY23 driven mainly by the weak global demand. HSG made a reversal of inventory provision of about VND530bn in 2QFY23. It seems that the impact of high-cost inventories from last quarters was over. The company would continue to have positive margins in 3QFY23.
28
April
DPM released 1Q23 business results with a VND3,264bn revenue (-44% yoy, -17% qoq). Despite financial income splendidly rising VND70.2bn (+50% yoy), net profit merely posted VND262bn (-88% yoy, -77% qoq), substantially under our estimate of VND1,131bn. Even anticipating sluggish export growth, we think the 2Q23 business results may not be as worse as seen in 1Q23 thanks to the peak season of the plantation. We maintain a HOLD rating on DPM stock as we see the outlook for the industry is not so bright, DPM’s earnings are under review
28
April
HPG’ revenue decreased 39.6% yoy to VND26,588bn in 1Q23 while the NPAT-MI posted VND397.4bn (-95%yoy) driven mainly by steel and real estate segments. HPG made an inventory provision reversal of about VND954bn in 1Q23. If excluded the reversal, we still see the positive gross profit. We suppose that the high-cost inventories from last quarters were cleared out. However, HPG will have the thin margin over next quarter due to lower selling prices in our view.
28
April
NKG’ revenue decreased 38.8% yoy to VND4,374.8bn in 1Q22 driven mainly by the weak global demand. The 1Q23 NPAT-MI posted a loss of VND49.2bn whilst the gross profit turned to positive at VND137.7bn. The gross margin is thin at only 3.1%. thanks to Inventory provision reversal.
28
April
Short VN30F2305 after ATO session and stop the loss when there is the closing price above 1,050 pts level. (Hourly chart)
28
April
The VNIndex shows a bearish market in the short term due to closing below the 50-period moving average. That means the downside risk is still intact. Hence, traders should be careful and reduce long positions.
27
April
PAN reached the net revenue of VND13.7tn in 2022, sharply rose by 48% yoy, met 95% of 2022 guidance. The revenue surge was attributed to full-year consideration of VFG’s business results. PAN expected revenue and profit to grow by 8-9% yoy in 2023.
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.