Analysis Center
15
February
Quant Note – 4Q24 wrap-up: better but will be slow down
NPAT-MI growth continues to record a very high earnings growth number, with 29.2% yoy. Even though the financial group, especially real estate, made the number go up a lot, we...
14
February
POW – Earning Review – [HOLD] – Gross margin encountered many challenges
POW’s 4Q24 revenue grew to VND8,493bn, up 32% yoy. Increasing revenue driven by total the output recorded 4,556mn kWh (+22% yoy). However, GP recorded VND540bn (-26% yoy). The main reasons...
14
February
Aviation – Note – [Nonrated] – 4Q24: Aviation up on international travel
The overall air traffic grew 7% YoY in 4Q24 thanks to rising international travel, passenger numbers declined slightly by 1% YoY, international arrivals reached 4.88mn pax (+31% YoY). Airlines give...
14
February
Derivatives: Improved liquidity
The contract formed an accumulation phase within the 1,327–1,340 point range. Investors should wait for a breakout signal above or below this range to confirm either an uptrend or downtrend....
14
February
Market commentary: Market divergence
Although the market showed a positive session, liquidity remained low. This suggests that the current uptrend may not be robust enough to sustain the market’s momentum. Therefore, investors should closely...
13
February
Strategy Monthly: Expectation of a breakout signal
Global trade tensions could significantly impact Vietnam's economy. However, the upward trend of the stock market may continue, as the proportion of export-oriented companies on the exchange is not substantial,...
13
February
SBV calibrates FX quotation amid global uncertainties
On 11 February, 2025, SBV revised its methodology for determining USD selling and buying prices, shifting to a daily adjustment mechanism based on central rate fluctuations instead of maintaining fixed...
13
February
DGW – Brief – [NONRATED] – 4Q24: Unsurprisingly Good
In 4Q24, DGW reported a net revenue of VND5,859bn (+20.8% yoy), showing a continuing recovery from the 2023 bottom, while NPAT surged to VND146bn (+62.2% yoy) due to a lower...
13
February
Textile & Garment – Sector Note – [Nonrated] – On a growth track
In 4Q24, textile and garment sector continued a growth stance in both manufacturing and export activity. Particularly, clothing, fabric and yarn domestic production soared by a double-digit in 4Q24. Notably,...
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
