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03

February

Market commentary: Positive developments

The market recorded two consecutive sessions of gains alongside improved liquidity, reflecting a somewhat optimistic sentiment ahead of the long Lunar New Year holiday. However, investors should remain cautious regarding...

Report (0)

03

February

Chart of the day: Uptrend returns?

Although positive signals have emerged, the long holiday may affect investor sentiment and market trends. Therefore, investors should observe for a few sessions after the holiday before reopening positions.

Report (0)

24

January

December 2024: Easing Pressure

In December 2024, traded values of corporate bonds rose to VND140tn (+29% mom, +60% yoy). The Banks and Real Estate sectors accounted for 31/48% of the total traded volumes (-12%p/+16%p...

Report (7)

23

January

ACB – Brief – [NONRATED] – Defending earnings growth in 4Q24

4Q24 PBT jumped +12.4%yoy (to VND5,671bn thanks to (1) net interest incomes (+12.6%yoy), (2) manageable operating expenses (-9.1%yoy), and (3) lower risk provision expenses (-54%yoy). Meanwhile, non-interest incomes dropped by...

Report (4)

23

January

VHC – Brief – [BUY] – Weaker-than-expected results in Dec-24

In Dec-24, VHC released monthly revenue which sat at VND1,029bn (+26% yoy and +6.3% mom). While this reflects positive growth, it fell short of our expectations due to weaker-than-expected pangasius...

Report (0)

22

January

VOS – Brief – [NONRATED] – Lower freight rates dampened 4Q24 profit

In 4Q24, VOS reported a VND1.32tn revenue (+4% QoQ, +45% YoY). Shipping: revenue inched down to VND477bn (36% of total revenue, - 3% QoQ, -4% YoY) due to significant decline...

Report (3)

22

January

TCB – Earnings review – [HOLD] – Unattractive earnings growth in 4Q24

4Q24 PBT was down -18.7%yoy to VND4,696bn due to (1) lower non-interest incomes (-72.1% yoy) and (2) significantly higher operating expenses (+31%yoy). Meanwhile, stronger net interest incomes (+13.2%yoy) and lower...

Report (0)

21

January

FMC – Earnings review – [HOLD] – Led by KAF…

In 4Q24, FMC posted a revenue of VND1,364bn (+8.9% yoy) and a NPAT-MI of VND110bn (+33.7% yoy). This result beat our forecasts due to FMC recorded (1) An exponential growth...

Report (0)

21

January

Trump’s inauguration: What to expect?

President Donald Trump began his term with sweeping executive actions, focusing on energy and immigration. He declared a national energy emergency to boost domestic production and withdrew from the Paris...

Report (5)