Analysis Center
03
February
PVD – Earnings Review – [BUY] – 4Q24: Rising pressures
PVD’s 4Q24 revenue grew by 60% yoy (VND2,789bn, 112% of KIS forecast), but gross profit plummeted 10% yoy to VND359bn (71% of KIS forecast) owing to poorer day rates. 4Q24...
03
February
Market Trader: Liquidity improves before Tet
After three consecutive weeks of net selling, foreign investors recorded a slight net buying of VND120bn in the week before Tet. However, for the whole month of January, they net...
03
February
Covered warrant: Pre-Tet selling activity
In the week leading up to the Tet holiday, negative sentiment continued to dominate the market, as the number of declining warrants remained prevalent. Hence, investors should observe and wait...
03
February
SBV supports liquidity before Tet holiday
This week, the SBV injected a significant amount of liquidity to ensure money supply for the Tet holiday as exchange rate pressures eased further. The interbank yield curve flattened, with...
03
February
Derivatives: Final session before Tet
The contract's trend is influenced by the long holiday. Therefore, the contract requires a breakout in the next session to confirm its trend. Based on this signal, traders can consider...
03
February
Market commentary: Positive developments
The market recorded two consecutive sessions of gains alongside improved liquidity, reflecting a somewhat optimistic sentiment ahead of the long Lunar New Year holiday. However, investors should remain cautious regarding...
03
February
Chart of the day: Uptrend returns?
Although positive signals have emerged, the long holiday may affect investor sentiment and market trends. Therefore, investors should observe for a few sessions after the holiday before reopening positions.
24
January
December 2024: Easing Pressure
In December 2024, traded values of corporate bonds rose to VND140tn (+29% mom, +60% yoy). The Banks and Real Estate sectors accounted for 31/48% of the total traded volumes (-12%p/+16%p...
23
January
ACB – Brief – [NONRATED] – Defending earnings growth in 4Q24
4Q24 PBT jumped +12.4%yoy (to VND5,671bn thanks to (1) net interest incomes (+12.6%yoy), (2) manageable operating expenses (-9.1%yoy), and (3) lower risk provision expenses (-54%yoy). Meanwhile, non-interest incomes dropped by...
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
