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Monday, June 17, 2024

Can Q3 profits help market recover?

By Trieu Duong

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Although quarterly earnings reports are always a factor that props up the stock market in the short term, third-quarter results in particular, as seen in previous years, do not give too much impetus since businesses tend to save the best for the fourth quarter. Q3 business results fuel market recovery momentum After a turbulent start earlier this month, the stock market rebounded from October 9 to 13, with the VN-Index surging by 27 points, equivalent to a 2.3% increase. As we enter the peak period for Q3 earnings reports, this could be a favorable factor for the market. In its October strategic report, Viet Dragon Securities Corporation (VDSC) predicted that the profits of most industry groups in the third quarter of 2023 would improve compared to the second quarter. This trend aligns somewhat with the recovery in economic and trade activities, as per data from the General Statistics Office. Specifically, sectors like oil and gas, pharmaceuticals, and technology are expected to achieve double-digit growth in after-tax profits. Analysts believe that since the figures in the second half of 2022 were modest, the profits of listed companies are likely to pick up from the third quarter of this year. Additionally, government […]
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