Tiếng Việt
普通话
31
January
Daily derivatives: Selling pressure comes back
For new long positions, traders should wait for the short-term correction on upcoming contract (VN30F2302). (Hourly chart)
Research Center
31
January
Market commentary: Retest 1,100-pts threshold
The VNIndex retests the 1,100-pts threshold, pushing downside risk increase. If the index closes below the support, the uptrend is reversed. Therefore, traders should wait for the confirmed signals before resuming open long positions.
30
January
VHM-Earnings Review-[BUY]-The perfect end
VHM released its 4Q22 result with a VND8.9tn net profit, -25.2% yoy, -38.4%. prompting to a full-year net profit of VND28.8tn, -26.4% yoy. The results seemed tepid outside but solid inside given the fulfillment of 96.3% of VHM's 2022 net profit guidance. The 2022 presale growth target trailed the estimate and remains steady in the 2023F thanks to bulksale strategy.
30
January
HPG-Earnings Review-[HOLD]- Worse than expected
HPG’ revenue decreased 42.2% yoy to VND25,825bn in 4Q22 driven mainly by steel segment. The 4Q22 NPAT-MI posted a loss of VND1,991bn. The 12M22 results fulfil 102%/80% our Revenue/NPAT-MI forecasts.
30
January
Oil & Gas-Brief-[Nonrated]-Petroleum import volume kept high in Jan
According to GSO estimate, crude oil exploitation in Jan decreased slightly to 713,000 tonnes (-7.1% mom, -3.7% yoy). Meanwhile, crude oil export and import volume went down strongly mom but increased yoy to 200,000 tonnes (-33.3% mom, +11.1% yoy), and 1.0 mn tonnes (-28.6% mom, +42.9% yoy), respectively. Petroleum import volume and value went up strongly yoy to 1.0 mn tonnes (-16.7% mom, +51.5% yoy) and USD879mn (-20.6% mom, +87.2% yoy), respectively.
30
January
Fundflow 16-19 Jan: Stable inflow across Vietnam
Market ended up to be net bought. In which, Financials was bought the most, following by Real Estate, Materials, and Consumer Staples. With ETF flow across Vietnam, net inflow was USD70mn. The inflow was mainly lifted by the strong demand on VanEck ETF, VFMVN30 ETF, and X FTSE Vietnam.
30
January
Covered warrant 16-27 Jan: Foreign demand keeps concentrating on STB Cws
Last week, trading volume surged across the covered warrant market. Consequently, trading value also ticked up to reach VND48bn (22.5% wow) thanks to the maintained uptrend market. By underlying asset, covered warrants which have HPG as the underlying asset kept attracting the most of trading interest from domestic investors whilst foreign interest focusing on STB Cws.
30
January
Daily derivatives: Buy point on the next contract is not ready
For new long positions, traders should wait for the short-term correction on upcoming contract (VN30F2302). (Hourly chart)
30
January
Market commentary: Bullish market?
The VNIndex closes above the 1,100-pts threshold, implying the bullish market. Therefore, traders should open long positions with small size.
30
January
Chart of the day: Bullish signals
The VNIndex confirms the bullish uptrend thanks to the breakout at the 1,100-pts threshold.
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.