Analysis Center
18
November
POW – Earning Review – [HOLD] – 3Q25 – Gross margin widens, profits advance
In 3Q25, revenue recorded VND7,855bn (+30% yoy, -16% qoq) with total electricity production rising 30% yoy, with key drivers coming from the gas-fired and hydropower segments. As a result, gross...
18
November
Derivatives: Breakout session
The market shows signs of short-term improvement, but the move lacks confirmation due to subdued liquidity. Traders should remain cautious and wait for clearer validating signals before reopening long positions.
18
November
Market commentary: Green start to the week
The market successfully retested the 20-day moving average, reinforcing the potential formation of a short-term recovery trend. However, liquidity remained low, indicating that buying power has yet to fully return...
17
November
SBV maintains net injection
This week, the SBV continued its net liquidity injection to support the banking system as year-end demand pressure intensified. Specifically, the interbank yield curve steepened, with short-term rates cooling while...
17
November
BSR – Brief – [NONRATED] – 3Q25: Higher volume and margins as expected
3Q25: Higher volume and margins as expected BSR recorded 3Q25 revenue of VND35.3tn (+10% yoy, 99% of KIS forecast), despite lower oil prices, thanks to a solid 13% yoy increase...
17
November
Covered warrant: Liquidity slightly increased
During the week, market liquidity in the covered-warrant segment improved slightly and the number of gaining warrants outpaced decliners, suggesting better trading sentiment. However, overall trading value fell, likely due...
17
November
Derivatives: Declining liquidity
Although the market has shown signs of recovery, short-term correction risks remain due to declining liquidity during the rebound. Traders should remain cautious, monitor additional confirmation signals, and wait for...
17
November
Market commentary: Late-session buying support
The market posted a modest gain, but liquidity remained subdued, indicating continued investor caution. Meanwhile, the index is approaching the 20-day moving average, and whether it can break through or...
17
November
Chart of the day: Liquidity weakening
Although a trend reversal is possible, the uptrend still requires more confirmation as liquidity remains low. Investors should stay cautious and maintain equity exposure at a safe level.
Featured Analysis
Market commentary: Foreign investors turned net buyers again
GDA – Brief – [NONRATED] – 3Q25 – Domestic market supported earnings
Market commentary: Selling pressure returned
Derivatives: Awaiting the next signal
VJC – Earnings Review – [HOLD] – 3Q25: Inefficient expansion
Derivatives: Uptrend confirmation?
Market commentary: Sustained demand
