Research Center

Rice export volume rocketed by 109% mom and 80% yoy to 900,000 tonnes. Meanwhile, rice exporting value surged by 108% mom and 95% yoy to USD480mn in Mar-23.

With short-term movement, selling pressure is still active and the instrument still follows the flat period with unclear trend which is defined as the risky trading environment. Traders should stay on the sidelines and wait for the accurate market swing and capture the trading point later. (Hourly chart)

The VNIndex closes above the 1,050-pts threshold for 3rd consecutive gaining session, however, the downside risk is still intact in the short term due to selling pressure at a high level of around 1,100-pts. Therefore, traders should stay on the sidelines.

With short-term movement, selling pressure is still active and the instrument still follows the flat period with unclear trend which is defined as the risky trading environment. Traders should stay on the sidelines and wait for the accurate market swing and capture the trading point later. (Hourly chart)

Although the VNIndex closes above the 1,050-pts threshold, the downside risk is still intact in the short term due to selling pressure at a high level of around 1,100-pts. Therefore, traders should stay on the sidelines.

Interest rates in the money market continued to slide for the second week after SBV’s rate cut decision. The overnight interbank rate made another sharp drop this week to hit the year low and even was approaching the ultra-low region in the pandemic. Besides, USDVND remains stable, while the global FX market experienced a stormy week under the banking crisis. We predict funding costs in the money market to be low more when the central bank tends to navigate its monetary tools to support domestic production and economic growth at this time.

Last week, trading volume has recovered, recording at 83mn shares, up 20% WoW. Besides, trading value also surged, recording at VND40bn due to the active rebound phase across the major market. By underlying asset, covered warrants which have HPG as the underlying asset continued to attract the most of trading interest from both domestic and foreign investors.

Foreign demand continued to outweigh supply. Net buy value was USD17mn. With ETF flow, the inflow has come back across Vietnam as well as demand kept increasing. Inflow was USD27mn, tripled the previous week. Although there was the active inflow, demand focused only on Fubon ETF whilst other major ETFs such as VFMVN30 ETF, VFMVN Diamond, VNFin Lead, and KIM Growth VN30 ETF, FTSE Vietnam experienced the outflow or the insignificant flow of money.

With short-term movement, the instrument still follows the flat period with unclear trend which is defined as the risky trading environment. Traders should stay on the sidelines and wait for the accurate market swing and capture the trading point later. (Hourly chart)

The VNIndex shows the bullish signals as crossing the 1,050-pts for the five gaining sessions in a row. However, the downside risk is still intact in the short term due to selling pressure at a high level of around 1,100-pts. Therefore, traders should stay on the sidelines.