Vietnam Insight

Highlights:

• The State Bank of Vietnam (SBV) has proposed that credit institutions strive to reduce lending rates by 1-2% per year and aim for system-wide credit growth of 5-6% by the end of the second quarter.
• More banks have raised savings interest rates in June, with many banks deposit rates of over 6% per year.
• According to ACB Bank, the SBV sold USD 350 million on June 24 and USD 600 million on June 25. Since the end of April, the SBV has sold about USD 5.5 billion at around VND 25,450.

Technical view: VNINDEX had a trading week to regain all the points lost from the previous week when it closed at 1,283 (+37.72 points, +3.03%). Foreign investors temporarily reduced their net selling momentum, along with the recovery of large-cap stocks, helping the market regain the EMA 20 and return to the resistance zone of 1,280.

Investment Ideas: Investors should only disburse in recovery stocks with a solid foundation. Limit chasing when prices increase strongly because it is easy to encounter bull traps in the afternoon. Expected stock groups: real estate, retail, manufacturing will be better attended by cash flow.

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