Vietnam Insight

Highlights:

Update on Q4/2023 earnings: 39 out of 91 banks and financial companies recorded a high growth of 16.4%, while the after-tax profits of 433 out of 1,518 non-financial companies decreased for the fifth consecutive quarter by -11.8%.

US GDP increased by 3.3% in Q4/2023, exceeding the Wall Street forecast of 2%. In Q3, the growth rate was 4.9%. Looking at the whole year, the US economy grew by 2.5%, also far exceeding the estimate from Wall Street.

Technical view: VNINDEX closed at 1,175.67 (-5.83 points, -0.49%) with a slight adjustment when the banking group showed signs of profit taking. The uptrend is still well maintained when the EMA lines are all in order. The reference resistance and support thresholds are the 1220 and 1160 zones.

Investment Ideas: Investors continue to pay attention to the industry sectors that benefit from this period such as banks, real estate, and retail when a series of positive news are supporting these groups. However, the market's sentiment of withdrawing money for Tet is showing signs of appearing, investors should prioritize holding and limit buying new stocks, especially those that have already risen sharply in price.

• Movement of cash flows and capital flows
• Top stocks worth noting
• Macro data