Analysis Center
07
May
Market commentary: Caution remains
Selling pressure late in the session implied that risks remain, especially given liquidity staying at low levels. Investors, therefore, should remain cautious and await clearer market signals.
06
May
Tariff clouds loom over solid performance
Vietnam’s macroeconomic picture in April remains broadly positive, with industrial production and trade indicators continuing to perform well. However, this may represent only a calm before the storm, as early...
06
May
GAS – Earnings Review – [BUY] – 1Q25: Bad debt eased
GAS’s 1Q25 revenue rose 10% yoy to VND25.7tn, fulfilling 95% of KIS’s forecast. Gross profit reached VND4.09tn, slightly exceeding expectations at 103% of our forecast. Notably, GAS made no further...
06
May
VHC – Earnings review – [BUY] – 1Q25’s NPAT trails our forecasts
In 1Q25, VHC released a revenue of VND2,648bn (-7.3% yoy/ -17.4% qoq), most of VHC’s business segments were stagnant. Notably, pangasius segment slumped to VND1,354bn (-7.5% yoy/ -26.8% qoq) due...
06
May
HPG – Brief – [NONRATED] – Favorable first quarter, but challenging to sustain
HPG’s financial statement in 1Q25 recorded a revenue of VND37.6tn (+22% yoy) and NPAT of VND3,350bn (+17% yoy). In which, the Steel segment recorded VND35.4bn of revenue, +23.7% yoy, with...
06
May
Derivatives: Awaiting a breakout session
As the contract continues to move within the narrow range of 1,285-1,320 points, traders should remain cautious, closely monitor the market, and choose appropriate entry points.
06
May
Market commentary: Positive amidst caution
The market recorded a positive closing session; however, it is notable that liquidity showed clear caution from cash flows. The divergence between price movement and trading volume makes the signal...
05
May
SBV continues to withdraw liquidity before the holiday
SBV extended its liquidity withdrawal for a third consecutive week, signaling a softer pressure in the banking system despite the upcoming long holiday. As a result, interbank rates shifted, with...
05
May
Fund flow: Wave of capital outflow in SEA
The prolonged divestment trend in Vietnam reflects the cautious sentiment of foreign capital, despite the selling pressure having eased. Furthermore, the continued withdrawal of capital from ETF funds indicates that...
Featured Analysis
Derivatives: Volatility near new highs
Derivatives: Rising liquidity
Market commentary: Broad-based gains
Market traders: Strong proprietary net outflows
Derivatives: Testing short-term moving averages
Market commentary: Demand rebounds
Exchange rate under pressure as interest rate gap widens
