GLOBAL WEEKLY UPDATE

SHORT ENGLISH VERSION 17 October 2022

Xi Supports Clean Energy and Technology / Vietnam Stocks Recovered

Stocks of the week

US Amazon (AMZN) HK Alibaba (9988) VN Digiworld (DGW)

Expecting 3Q22 revenue growth Forecasting F2Q23 sales to Foreseeing mobile business will
of 15%YoY, driven by Amazon recover, but the cloud business support 2H22 revenue, supported
Prime Day may slow down by iPhone 14 series
D

Bbg cons : BUY Bbg cons: BUY Bbg cons: BUY

with TP of USD169.29 with TP of HKD139.18ffefe
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with TP of VND77,566
*Bbg cons. = Bloomberg Consensus

United States
Last week, US stocks ended mixed, with DJIA up 1.1%, while the S&P 500
and Nasdaq were down 1.5% and 3.1%, respectively, pressured by tech
stocks META -5.0%, MSFT -2.4% after the consumer price index (CPI) in Most active stocks
Sep, which was revealed on 13 Oct, grew by 8.2%YoY, higher than the
market expectation of 8.1%YoY, but decreased from August’s 8.3%YoY, Source: Bloomberg
resulting in 10-year bond yield jumps to 4%, highest in 14 years.
US stocks are likely to move sideways this week after falling sharply on US
Friday. Currently, about 7% of companies in the S&P 500 have already
disclosed their 3Q22 earnings, with over 70% showing better-than- Weekly Vol. FY23
expected profits. Ticker
($mn) P/E
Meanwhile, four of the five “FAANG 2.0”-theme ETF in the special report were TSLA 86,003 34.7
XLE ITA MOO XME, adding around 11.5%, 2.1%, 0.6% and 3.9% respectively,
beating the S&P 500 index that minus 1.6%, reflecting that FAANG 2.0 is an AAPL 52,270 21.4
interesting theme for US stock investments during the 4Q22.
NVDA 39,552 25.3
Hong Kong
Hang Seng Index fell 6.5% after the US banned US companies from HK
exporting chips to Chinese firms. Moreover, the number of COVID-19
cases in China has risen to 3,000 a day, raising concerns about the Weekly Vol. FY23
Name
imposition of lockdown measures. ($mn) P/E
This week, China entered the session of the 20th Communist Party General Tencent 3,978 15.9
Assembly from 16-23 Oct. At the opening session yesterday, President Xi
Jinping discussed key economic policies: 1) Long-term quality economic Meituan 3,057 -
growth, 2) Supporting common prosperity, 3) Supporting technology sector,
4) Set targets for zero carbon emissions within the next 40 years. Alibaba 1,851 9.8
The above-mentioned policies may be a supporting factor for 3 DR Chinese
stocks : STAR5001, CN01, CNTECH01.
VN
The government has reiterated that it will continue to implement the Zero-
COVID policy, with Premia Partners expecting the policy to take a Weekly Vol. FY23
turnaround process in the next 3-6 months. Ticker
($mn) P/E

Vietnam HPG 98
51
3.8
STB 2.0
VN index recovered 2.5%, after 11 Oct, the IMF raised Vietnam’s 2022 GDP TCB 67 3.4
forecast to 7% from 6%, in contrast to the cut down to 2.7% of the world's
GDP from 2.9%, reflecting that the Vietnamese economy is still strong.
Mobile retail segment DGW +22%, FRT +23%, after AAR Vietnam said that What to watch this week
total iPhone shipments this year have doubled from 2021.
US Earnings Release:
Meanwhile, the concerns of illegal bond began to ease after the State Bank of
- ISRG, JNJ on 18 Oct
Vietnam announced that SCB would be in “Special scrutiny”. It also appoints a
- NFLX, TSLA, PG, NDAQ on 19 Oct
new chairman of the board and four directors from Big 4 banks in Vietnam to
ensure their safety. More information about Vietnam can be reached through - T on 20 Oct
“VN Special Report - ฝ่ามรสุมหุ้นเวียดปรับฐาน โอกาสอยู่แค่เอื้อม?” CN Economic:
- Retail Sales Index in Sep
Vietnam stocks may recover this week after entering the 3Q22 earnings season, - 3Q22 GDP
which may be supported by the financial sector (33% weighed in the VN index)
after last week, medium-sized banks began to announce their earnings for the
first 9 months of the year, which has continued profit growth, such as TPB
growing 35%YoY, VIB growing 46%YoY and STB growing 37%YoY.
Translated by Thakul Seearamroongrueang, Product Specialist, Global Investing Division
Source: BLS Global Weekly Update Disclaimer apply Page 1/2
GLOBAL WEEKLY UPDATE
GLOBAL INVESTING UPDATE
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