Analysis Center
12
February
BSR – Brief – [NONRATED] – 4Q24: Difficulties remain
4Q24 volume inched up 4% yoy per our estimates, at 2.1mn tonnes. Yet, revenue declined 14% yoy to VND36tn. 4Q24 gross profit turned positive but still poorly performed due to...
12
February
Market commentary: Market recovery
Although the market rebounded following previous correction pressures, liquidity remained low, suggesting that the recovery signal may not be strong enough to negate the existing downside risks. Hence, investors should...
11
February
Fund flow: Capital outflow in Vietnam
Vietnam saw negative capital flows last week, particularly in active funds and ETFs. However, we maintain that fund flows could turn positive in the 1H25. The anticipated market recovery is...
11
February
Derivatives: A selling signal appears?
The contract presented reversal signals, declining sharply with increased volume. This suggested a potential downside risk in the upcoming sessions. Therefore, traders should cautiously observe a breakout signal from the...
11
February
Market commentary: Dominant selling pressure
Amid unfavorable macroeconomic developments, the market reacted strongly, leading to a sharp correction accompanied by rising liquidity. This suggests that negative signals have emerged. Hence, investors may consider gradually reducing...
10
February
QTP – Earnings review – [BUY] – The high coal price harmed earnings
In 4Q24, QTP recorded revenue of VND2,884bn, +1.2% yoy. Of which: (1) The output’s QTP in 4Q24, which is estimated to be decreased by 12% yoy and (2) the full...
10
February
SBV supports liquidity amid escalating USDVND pressure after Tet
This week, liquidity tensions emerged in the money market after the Tet holiday, with interbank rates rising significantly. In response, the SBV injected liquidity to ease pressure despite escalating USDVND...
10
February
Market Trader: Strong liquidity growth
Foreign investors resumed their net selling trend with a significant increase, reaching VND4.2tn. As a result, foreign investors have been net sellers in 4 out of 6 weeks since the...
10
February
Covered warrant: Trading activity rebounds
The previous week, there was a significant increase in the number of rising CWs. However, despite the notable improvement in liquidity, declining CWs still made up the majority of total...
Featured Analysis
Market commentary: Foreigners net sell “VIC”
Derivatives: Continued correction
Market commentary: Cautious developments
March 2025: Muted sound of real estate issuance
Market commentary: Wide-spread selling pressure
Derivatives: Profit-taking pressure
Sector Note – 1Q25F forecast: Recovery but slowdown
