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31/08

Year 2022

ETF Monitor – Time for foreign ETFs to review

Strategy Note 84

FTSE will announce their portfolio review for FTSE VN Index (FTSE VN ETF) and FTSE Vietnam 30 Index (Fubon ETF) on 02 Sep 2022. Market Vector also announce new portfolio for MVIS VN Index in 8 Sep 2022, which will…

29/08

Year 2022

Market Strategy September 2022 – Improving fundamentals

Strategy Note 85

Since the bottom in mid-July, VN-INDEX has extended its uptrend in August and closed at 1,282.6 points (+6.3 % mtd, -14.4% ytd). We believe VN-INDEX’s strong performance is driven by the following catalysts: (1) inflation tended to cool down in…

08/08

Year 2022

2Q22 Earnings review – Earnings growth takes a breather

Strategy Note 82

As at 05 Aug 2022, 1,045 listed companies on three bourses, representing 93.7% of market capitalisation, have released 2Q22 results. 2Q22 market aggregate earnings grew modestly 13.5% yoy, slower than that of 36.7% yoy growth seen in 1Q22. Market earnings…

02/08

Year 2022

Market Strategy August 2022 – A soft recovery is underway

Strategy Note 120

VN-INDEX successfully broke the milestone 1,200 level. VN-INDEX started to bottom out from the lowest level 1,149.6 since July 6 and then closed the month at 1,206.3pts (+0.7% mtd, -19.5% ytd). Market sentiment has improved following the rally of US…

29/07

Year 2022

2Q22 Earnings Season Tracking – Update 29 Jul, 2022

Strategy Note 124

Dear investors, Following the previous email of earnings season tracking, we would like to update the real-time results announcement over three bourses HSX, HNX and UPCOM. As at 29 Jul 2022, 778 listed companies, representing 45.1% of the total listed stocks and 55.9%% of market capitalization,…

26/07

Year 2022

2Q22 Earnings Season Tracking – Update 26 Jul, 2022

Strategy Note 105

Dear investors, Following the previous email of earnings season tracking, we would like to update the real-time results announcement over three bourses HSX, HNX and UPCOM. As at 26 Jul 2022, 590 listed companies, representing 34.2% of the total listed…

22/07

Year 2022

2Q22 Earnings Season Tracking – Update 22 Jul, 2022

Strategy Note 58

Dear investors, 2Q22 Earnings season has kicked off this week. In order to provide a sense of the overall 2Q22 earnings picture, we start tracking the real-time result releases over three bourses HSX, HNX, and UPCOM. As at 22 Jul 2022, 483 listed companies, representing…

21/07

Year 2022

ETF Monitor – VN30 Index: Bank proportion to be enlarged

Strategy Note 98

HOSE announced new VN30 index constituents on 18 Jul 2022, which VIB officially replaces PNJ from 01 Aug 2022. With data as of 19 Jul 2022, we estimate ~12.5m shares of VIB will be bought while 3.5m shares of PNJ…

01/07

Year 2022

ETF Monitor – VN30 Index 2H22 review: VIB in, PNJ out

Strategy Note 110

New HOSE-index basket, including the VN30 index will be announced on 18 Jul 2022, which will come into effect on 01 Aug 2022. According to our estimates, VIB will be included into VN30 basket, while PNJ to be removed out…

29/06

Year 2022

Navigating Vietnam 2H22 – Sailing through rough water

Strategy Note 136

We believe the key investment theme of Vietnam is economic trajectory with apparent recovery in a couple of next quarters. We expect the economy to accelerate in the 2H22 with 7.1% yoy for 2022F, underpinned by robust manufacturing expansion and…
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