VDS|Báo cáo chiến lược 2017

by finandlife20/12/2016 16:42

Tags:

Economics

US Fed raises rates for second time since Great Recession

by finandlife15/12/2016 08:55

MINH TRANG, SENIOR FOREIGN CURRENCY TRADERS, SILICON VALLEY BANK, SANTA CLARA, CALIFORNIA:

"She basically came out to support the rate hike today. She is also giving a guideline for 2017 with possibly three rate hikes. This is a vote of confidence on the economy that's strong enough to support another rate hike. It paints a supportive picture for dollar. The dollar has been strong for the last 30 days. That's been the dominant move. Today that trend continues. The press conference is tempering the initial enthusiasm from the statement. More fiscal stimulus and more rate increases will create a stronger dollar but we are looking pretty far ahead. You are seeing more of a weakness against the yen at this point. I wouldn't be surprised to hear about the parity chant again on the euro with anti-establishment wind blowing there."

Relative:

Official FED Rate hike

 

Thomson Reuters

Tags:

Economics

US Fed rate hike drag on investor sentiment

by finandlife14/12/2016 08:47

Anticipation of a US Fed rate hike Thursday and resulting foreign outflows seem to be dragging on local investor sentiment.

The Minister of Industry and Trade has just signed Decision 4846 approving a plan to simplify administrative procedures in 2017. Accordingly, the Ministry of Industry and Trade (MoIT) decided to completely remove 15 procedures, such as the certified declaration of imported steel and the certified demand to import steel, and simplify 108 of 443 procedures under MoIT management.

The removal and simplification of nearly 28% of all administrative procedures will help to reduce time and costs for enterprises, attract investment and stimulate business activities. This is one of the biggest measures of the government to reform and improve the business environment. In 2016, the Government has repeatedly emphasized “improving the business environment” as one of its highest priorities. In 2017, the key indicators of the business environment are targeted to reach the average of the ASEAN-4 countries. Although Vietnam's business environment has been improving recently, there are many indicators where it still lags.

PNJ: PNJ's chairwoman reaffirms the company's insulation from DongA, announced impressive 11M results
* In a meeting this afternoon with analysts, PNJ's CEO and Chairwoman, Madame Dung confirmed that, apart from the investment in DongA Bank which has been fully provisioned, PNJ and its BOD will not be affected by the investigation of said bank.

* Regarding 11M 2016 operating results, PNJ recorded a revenue growth of 9% vs 11M 2015. Retail revenue grew 28%, driven by 25 new stores and a SSSG of 10% in 11M 2016. In line with the strong retail revenue growth, PBT posted a 31% increase year over year.

* For FY2016, PNJ estimates revenue and PBT growth of 11% and 205%, respectively, which trails our current forecast.

* Our view remains that the incident related to DongA Bank will not affect PNJ fundamentally. Hence, we reiterate our BUY recommendation with a TSR of 31.5% inclusive of a 2.6% dividend yield.

 

VCSC Research

Tags: ,

Economics | Stocks

Upward commodity trend_December 2016

by finandlife09/12/2016 08:05

Follow oil price, other commodities increased in November. Most of patterns are showing the uptrend.

Cold rolled sheet price keep going up, it is good news for steel companies in Vietnam such as HPG, HSG, etc.

Natural rubber price keep climbing, it is good news for natural rubber companies and bad news for tire companies such as CSM, DRC, SRC.

Titanium dioxide price keep increasing, it is good news for BMC.

And the pull back of urea price creates expectation to sell higher price at urea companies such as DPM and DCM.

 

FINANDLIFE

Tags:

Economics

M2 and Credit Growth as of November 30 2016

by finandlife08/12/2016 08:50

As of November 30, total credit increase 14.57% comparing to the beginning year, lower than this figure of 15.44% in the same period last year. Meanwhile, M2 growth recorded 14.92% comparing to the beginning year, higher than this figure of 11.88% in the same period last year.

New Government showed that they want to push more money into the market. They expect to raise GDP Growth fast. But the easing monetary policy can make inflation rate go up.

CPI is recorded 4.52% in November, increase fast pace comparing to some recent months. This is the bad indicator for the macro economics. It also show the room for easing monetary policy will be restricted.

 

FINANDLIFE 

Tags: ,

Economics

DISCLAIMER

I am currently serving as an Investment Manager at Vietcap Securities JSC, leveraging 16 years of experience in investment analysis. My journey began as a junior analyst at a fund in 2007, allowing me to cultivate a profound understanding of Vietnam's macroeconomics, conduct meticulous equity research, and actively pursue lucrative investment opportunities. Furthermore, I hold the position of Head of Derivatives, equipped with extensive knowledge and expertise in derivatives, ETFs, and CWs.

 

To document my insights and share personal perspectives, I maintain a private blog where I store valuable information. However, it is essential to acknowledge that the content provided on my blog is solely based on my own opinions and does not carry a guarantee of certainty. Consequently, I cannot assume responsibility for any trading or investing activities carried out based on the information shared. Nonetheless, I wholeheartedly welcome any questions or inquiries you may have. You can contact me via email at thuong.huynhngoc@gmail.com.

 

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