Vietnam Insight

Highlights:

• According to the State Bank of Vietnam (SBV), as of June 14, 2024, outstanding credit to the economy increased by 3.79% year-to-date (YTD). By the end of May, credit growth had reached 2.41%, but in just half a month, credit has grown significantly to 1.38%.
• According to the Ministry of Industry and Trade, industrial production in the first six months of this year continued to grow strongly with the industrial production index (IIP) for the whole industry estimated to increase by 7.1% YoY. By June 15, the country's total export turnover reached USD 172.78 billion, up 15.19% YoY.
• In a newly released report, the US Treasury Department made positive assessments of Vietnam's monetary and exchange rate policies, and concluded that no US trading partner is manipulating its currency.

Technical view: The VNINDEX had a cautious trading week as both buyers and sellers mainly chose to observe. At the end of the session, the market closed at 1,182 (+2 points; +0.16%) forming a doji candlestick on the weekly chart with low liquidity. Support 1 corresponding to the 1,280 - EMA 20 zone still plays a supporting role for prices, support 2 is the 1,260 zone corresponding to EMA 50 on the weekly chart.

Investment Ideas: Investors can disburse large-cap stocks with good fundamentals when prices adjust to support zones and bounce back. It is not advisable to disburse strongly at breakout points or chase rallies. Prioritize industries such as Steel, banking, securities, real estate,...

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