Analysis Center
11
November
Banking – Note – [NEUTRAL] – Right on track
Aggregated 3Q25 PBT (27 listed banks) surged +24.6%yoy from a low base in 3Q24 and -1.8%qoq. The business results resulted from 1) robust credit growth, 2) a strong growth in...
11
November
Strategic Insight: Awaiting an upward trend
The economy recorded strong growth, supported by positive macroeconomic indicators in October. Therefore, we expect the stock market to enter a short-term recovery phase after forming a sub-cycle bottom in...
11
November
Market traders: Liquidity declined
Last week, market liquidity marked a three-week losing streak. Specifically, the total trading value across the market reached VND253tn, down 8.2% WoW.
11
November
Market commentary: Market declined
The market continued to experience selling pressure, indicating that cash flows remain cautious and on the sidelines rather than re-entering strongly. Additionally, the persistence of low liquidity reflects investors’ risk-averse...
11
November
Derivatives: Selling pressure persists
The contract has confirmed a downward trend by establishing a new low. Therefore, traders may consider reopening short positions and taking advantage of technical rebounds to optimize profits.
10
November
GEG – Note – [HOLD] – Outlook remains stable
For 2026F, we project GEG’s revenue and GP at VND2,784bn (-10% yoy) and VND1,631bn (-6% yoy), respectively. Growth will primarily be driven by the hydropower and solar segments, with total...
10
November
SBV rollovers repos as demand persists
This week, the SBV maintained its net liquidity injection at a modest level, mainly to offset withdrawal pressure from maturing repo contracts and support system-wide liquidity. Interbank rates remained elevated,...
10
November
Fund flow: Vietnam continued to attract inflows
Vietnam marked its second consecutive month of attracting positive foreign inflows, with total net buying reaching USD29.6mn. However, ETF activities continued to show a dominant outflow trend, with net redemptions...
10
November
Covered warrant: Liquidity slightly decreased
The covered warrant market continued to show a negative trend, as liquidity declined only slightly but the majority of warrants still posted losses. This reflects that investor sentiment remains cautious,...
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
