Analysis Center
11
August
VNM – Brief – [HOLD] – Gradually improved
In 2Q25, VNM’s revenue rose to VND16.7tn (+0.4% yoy) and NPAT decreased to VND2.5tn (-7.6% yoy). In 2H25m we expect VNM business results to be better than 1H25 with (1)...
11
August
Covered warrant: Liquidity hit a record high
Over the past week, market liquidity continued to surge, setting a new peak. Additionally, the dominance of rising covered warrants reflects investor optimism toward the underlying market’s upward potential. According...
11
August
USDVND moves sideways in an information-light week
This week, the SBV injected liquidity into the banking system, albeit at a modest level, while interbank rates stayed elevated and USDVND was broadly flat. On the interbank market, rates...
11
August
Derivatives: Signs of caution
Given current signals, the risk of a pullback is rising again. Investors are advised to remain cautious, closely monitor market movements, and wait for appropriate entry points.
11
August
Market commentary: The market continued to move sideways
The market recorded its fifth consecutive gaining session, accompanied by improved liquidity, suggesting that the short-term uptrend remains intact. Therefore, investors may consider opening partial positions in fundamentally strong stocks...
11
August
Chart of the day: New highs
The short-term uptrend has been reaffirmed as the VN-Index forms a new high range. Therefore, investors may consider maintaining their current equity holdings in portfolios.
09
August
Strategic Insight: Uptrend remains intact
Vietnam faces near-term export pressure from the U.S.’s 20% retaliatory tariff but retains a long-term advantage over India and China, potentially boosting market share and FDI. Domestically, strong liquidity sustains...
08
August
PVD – Earnings Review – [BUY] – 2Q25: Recovery comes early
2Q25 revenue upped 8% yoy to VND2.4tn, with gross profit (GP) growing 11% yoy to VND520bn. Gross margin (GPM) saw a solid recovery to 21.4% (+3.4%p qoq, +0.2%p yoy). 2Q25...
08
August
Derivatives: Uptrend maintained
Given the current signals, the contract remains in an uptrend. Therefore, traders may consider reopening long positions.
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
