Analysis Center
04
November
POW – Earnings Review – [HOLD] – Earnings could stay resilient in 4Q24F
POW’s 3Q24 revenue sustained at VND6,061bn, +7% yoy. Notably, NPAT skyrocketed 765% yoy to VND453bn. Key contributing factors were (1) 3Q24 exchange rate gains VND227bn (3Q23 VND0.25bn); (2) absence of...
04
November
SBV remains cautious ahead of the week of uncertainty
This week, the SBV injected modest liquidity into the banking system after four weeks of withdrawals to cool the rising USDVND. The interbank rates are mostly unchanged compared to last...
04
November
BID – Earnings review – [HOLD] – 3Q24 Cost mitigation
BID posted 3Q24 profit before tax of VND6,498bn, up +10% yoy (from a low base 3Q23)/ -20% qoq. Overall, 3Q24 earnings resulted from (1) lower provision expenses (-25% yoy, -17%...
04
November
Covered warrant: Pessimistic sentiment
Through the previous week, the CWs market exhibited negative performance, with only 1 CW increasing, 50 declining, and 11 remaining unchanged. We believe that now is not the optimal time...
04
November
VNM – Brief – [HOLD] – 3Q24: Recovery faced short-term challenges
In 3Q24, VNM reported net revenue of VND15,537bn (-0.6% yoy, -6.7% qoq), in which domestic revenue sit at VND12,928bn (-2.4% yoy, -4.4% qoq) and oversea revenue came in at VND2,609bn...
04
November
Market Trader: Foreigners heavily sell VND7.6tn
Foreign investors recorded their fourth consecutive week of net selling, with the net selling value increasing significantly to VND7.6tn. Selling pressure intensified as the exchange rate increased in October 2024....
04
November
Market commentary: Downside Risk?
The market reacted sharply to the developments of institutional rebalancing activities for 4Q24. However, liquidity remains insufficient to confirm the downtrend. Therefore, investors should observe upcoming market developments closely before...
04
November
Chart of the day: Accumulation phase
While the upward momentum slowed last week, the VN-Index still signals a negative outlook for the current trend as it forms a flag pattern. If this pattern is confirmed, the...
02
November
GMD – Brief – [NONRATED] – Highest NPAT of Gemalink
In 3Q24, GMD reported a total revenue of VND1,264bn (+7% QoQ, +26.7% YoY), in which, revenue from port operation rose to VND1.2tn thanks to solid throughput volume and fee increases....
Featured Analysis
Market commentary: Uptrend signal?
Aviation – Note – [NONRATED] – Competition arises in the international market
Derivatives: Piercing line pattern
Market commentary: Broad-based gains
Derivatives: Downtrend returns
Market commentary: Low liquidity
VCB – Earnings review – [BUY] – Maintaining asset quality
