Dear valued investors,
The market in Q4/2023 recorded a positive momentum again, after a correction in October 2023. The divergence is clearly shown in terms of performance across sectors. In addition, BSC has published the 2023 strategic report, sector outlook reports Q1, Q2, Q3/2023, power sector reports, the 4th report on public investment, and the report on Lot B – O Mon project, updating the latest information on the topics of (1) public investment, (2) electricity planning VIII, and (3) forecasting the VN30, VN-Finlead, Diamond index portfolio.
BSC provides important summary points and macro forecasts for 2024 as follows:
• GDP in 2024 is estimated to reach a growth rate of 5.8% in the bear scenario and 6.3% in the bull scenario.
• The USD/VND exchange rate is expected to remain stable and maintain a cooling trend when (1) the Fed continues to loosen monetary policy, (2) abundant FDI inflows are expected to gradually return, and (3) the recovery of tourism sector.
• Import-export growth starts to recover with an expectation of growth from 5.5% to 11% YoY.
Regarding the 2024 sector outlook, BSC expects that the market will show a "POSITIVE" performance for many sectors due to the following signs:
1. Deposit interest rates continue a downward trend.
2. Inflation peaks and remains under controlled.
3. Long-term interest rates bottom while bond prices peak.
4. Stock prices form an uptrend pattern.
5. 2024 earnings forecast is expected to grow by 17% compared to 2023.
Following the previous Vietnam Sector Outlook Report, BSC would like to deliver our Vietnam Sector Outlook Q1/2024. In this report, BSC provides investors with our views on various sectors, of which a Positive view for 9 sectors and a Neutral view for 7 sectors are presented.
BSC would like to wish all investors a year of wise, luck and success.