Analysis Center
23
April
TCB – Earnings review- [HOLD]- Underwhelming earnings growth in 1Q25
1Q25 PBT was down -7.2%yoy to VND7,236bn due to (1) lower net interest incomes (-2.3%yoy) and (2) lower non-interest incomes (-12.1%yoy). Meanwhile, operating expenses (+1.1%yoy) and provision risk expenses (-10%yoy)...
23
April
Market commentary: Foreigners net buying
The market experienced a volatile session as selling pressure unexpectedly intensified in the afternoon, dragging the index sharply lower. However, dip-buying demand quickly emerged, helping the index significantly pare its...
23
April
Derivatives: Rising volatility
As volatility increased in the latest session, traders should remain cautious, monitor the market closely, and select appropriate entry points for new positions.
22
April
Market commentary: “VIC” hits floor price
The market registered a declining session accompanied by high liquidity, indicating that persistent short-term selling pressure remains evident. Nevertheless, the index fluctuated within a narrow range, reflecting cautious investor sentiment...
22
April
Derivatives: Short-term caution
The contract trades within the 1,285-1,320 range. A breakout signal is needed to confirm the next direction. Traders should stay cautious and wait for clear signals before entering new positions.
21
April
Exchange rate pressure returns as trade war escalates
This week, the SBV returned to net liquidity withdrawal at a moderate level by rolling over repo contracts to ease maturing obligations. As a result, interbank rates declined across tenors,...
21
April
Covered warrant: Cautious sentiment
The CWs market saw a slight improvement in liquidity over the past week, indicating continued active cash flow. However, the number of declining warrants rose significantly, reflecting considerable investor caution...
21
April
Market Trader: Foreigners heavily sell VIC
Foreign investors extended their net selling streak to the 11th consecutive week, with a total value of VND4.8tn. Selling pressure eased slightly compared to the previous week. Since the beginning...
21
April
Market commentary: Demand return?
Demand returned right from the beginning of the session, helping the index maintain positive momentum. Furthermore, liquidity increased significantly during the session, showing that cash flow is gradually returning to...
Featured Analysis
BAF – Brief – [NONRATED] – 3Q25: The pressure from selling price
Derivatives: Awaiting trend confirmation
Market commentary: Low liquidity
PVD – Earnings Review – [BUY] – 3Q25: Robust growth as expected
Derivatives: Bullish Engulfing pattern
Market commentary: Bulltrap?
HPG – Brief – [NONRATED] – Sustain a growth trend
