Analysis Center
26
January
SBV mantains to net withdrawal
In the fourth week of 2026, the SBV continued to withdraw liquidity from the banking system, primarily by allowing previously injected repo contracts to mature, thereby reducing outstanding balances. Specifically...
26
January
Covered warrant: Cautious sentiment
Although liquidity in the covered warrant market declined slightly during the week, the number of advancing warrants continued to dominate. This development suggests that capital flows became more selective, concentrating...
26
January
Derivatives: Return of selling pressure?
The signals lack consistency; therefore, traders need to monitor additional signals to confirm the trend and exercise caution with further observation before reopening positions.
26
January
Market commentary: Late-session selling pressure
The market ended lower alongside a decline in liquidity, implying that selling pressure was not overly strong and that cash flow remains cautious. This development indicates that the market has...
26
January
Chart of the day: Awaiting breakout signals
The market shows accumulation. A breakout signal proves necessary to confirm the upcoming upward trend. Therefore, investors should exercise caution and observe additional trend confirmation signals before opening new positions.
23
January
TCB – Earnings review- [HOLD]- Diversified lending book
4Q25 PBT continued to improve quarterly + 10.9%qoq and +94.9%yoy to VND9,153bn, thanks to strong growth of operating incomes (+54.8%yoy/3.9%qoq) and controlled operating expenses. The cumulative number, 2025 PBT, rose...
23
January
QTP – Earnings review – [BUY] – 4Q25: One-off income lifts earnings sharply
In 4Q25, QTP’s revenue reached VND2,953bn, up 2% yoy, mainly driven by (i) the recognition of VND663bn in foreign exchange income and (ii) an estimated 15% yoy increase in production,...
23
January
Derivatives: A cautious stance
Despite multiple positive signals, investors need to monitor additional signals to confirm the trend. Therefore, traders should exercise caution and observe further signals before reopening positions.
23
January
Market commentary: Late-session selling pressure
The market ended lower alongside a decline in liquidity, implying that selling pressure was not overly strong and that cash flow remains cautious. This development indicates that the market has...
Featured Analysis
Market commentary: Selling pressure persists
Chart of the day: Short-term peak
DCM – Brief – [NONRATED] – 1Q26 earnings down, IP gross margin improved
Derivatives: Continue to observe
Market commentary: Low liquidity
DCM – Brief – [NONRATED] – 1Q26: Robust ASPs growth boosted earning
Market commentary: Market reversal
