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Derivatives 2026/08/12: Wait for a breakout signal
The uptrend is confirmed by the increase in volume. Therefore, traders may consider reopening Long positions.2026年8月12日
![GEG - Earnings Review - [HOLD] - 2Q26: Finance costs pressured earnings](/_next/image?url=https%3A%2F%2Fdms2stj3pztto.cloudfront.net%2F4affnuxz%2Fgeg.png%3Fformat%3Dwebp%26height%3D608%26mode%3Dcrop%26quality%3D80%26width%3D1080&w=3840&q=75)
GEG - Earnings Review - [HOLD] - 2Q26: Finance costs pressured earnings
Revenue and gross profit reached VND580bn (-7% yoy) and VND237bn (-13% yoy), respectively, mainly supported by the solar power segment. As a result, NPAT came in at VND8bn (-95% yoy), mainly due to (i) weaker earnings from the hydropower and wind power segments; (ii) a contraction in gross margin to 40.9% (-2.8%p yoy) from 43.7% in 2Q262026年8月12日
July 2026: Bond issuance and repurchase value in July fell
Vietnam’s corporate bond market weakened in July 2026. Total issuance fell 80% MoM and 42% YoY to VND26.3tn, with banks accounting for 78%, led by HDBank and Sacombank. Real estate contributed 11.4%, mainly from Vinhomes. The average coupon rate remained at 5.3%, while real estate and banking rates rose to 12.5% and 9.0%, respectively. Bond repurchases declined to VND15.4tn, down 78.2% MoM and 42.8% YoY, with banks contributing 85.5%, mainly OCB and VPBank. Meanwhile, late payments surged to nearly VND8.0tn, indicating rising maturity pressure. August maturities are estimated at VND10.1tn, concentrated in real estate and banking. Secondary market trading remained relatively stable at VND153.3tn, down 2.2% MoM but up 22.6% YoY, while average YTM edged up to 8.26%.2026年8月11日
Market commentary 2026/08/11: Maintaining the uptrend
The market posted gains alongside improving liquidity, indicating that buying demand is strengthening and capital flows are gradually returning. In addition, the index continued to hold above its 10- and 20-period moving averages, suggesting that the short-term recovery trend remains intact, while these moving averages continue to serve as support levels for the index.2026年8月11日
Derivatives 2026/08/11: Uptrend confirmed
The uptrend is confirmed by a breakout session on rising volume. Investors may therefore consider reopening Long positions.2026年8月11日
Covered warrant 2026/08/11: Positive developments
During the week, the covered warrant market showed signs of improvement, with liquidity edging higher and the number of gainers outnumbering decliners. Meanwhile, the underlying market also posted a positive performance, rising 1.8% for the week, indicating an improvement in trading sentiment and providing support for activity in the covered warrant market.2026年8月11日
Market Trader 2026/08/11: Foreign investors return to strong net buying after 20-week selling streak
By investor group, trading activity among domestic retail investors reversed to an increase, rising 11.3% from the previous week. Meanwhile, domestic institutional investors continued to reduce their trading activity, down 2.3% during the week.2026年8月11日
Strategic Insight - 08/2026: The right time to buy?
Despite external pressures on economic growth, we believe the present offers a suitable window to allocate capital to the equity market, supported by the recovery in macroeconomic fundamentals and our statistical analysis of entry timing following sharp market declines.2026年8月11日
![PVD – Earnings Review – [HOLD] – 2Q26: NPAT shrank, against expectation](/_next/image?url=https%3A%2F%2Fdms2stj3pztto.cloudfront.net%2F3tbnqqaj%2Fpvd.jpg%3Fformat%3Dwebp%26height%3D608%26mode%3Dcrop%26quality%3D80%26width%3D1080&w=3840&q=75)
PVD – Earnings Review – [HOLD] – 2Q26: NPAT shrank, against expectation
PVD reported 2Q26 revenue of VND3,028bn (+24% yoy, ~73% of KIS forecast). Gross profit increased modestly by 5% yoy to VND544bn (~53% of KIS forecast). The weaker-than-expected earnings were mainly attributable to significantly lower profitability from the Drilling segment. 2Q26 NPAT declined to VND178bn (-29% yoy, -41% qoq), significantly below our expectations.2026年8月11日
32W26: Interbank rates ease as SBV expands net injection
During 32W26, the SBV expanded its net liquidity injection into the banking system via open market operations, continuing to offer longer-term repo tenors to address persistent short-term tightness. Following the central bank's liquidity support, interbank rates declined sharply across most tenors. On the FX front, the domestic USDVND exchange rate dropped significantly by 0.35% WoW to 26,205, aligned with a weaker U.S. dollar following weak U.S. labor data and a reversal to net buying by foreign investors on the HoSE after a 20-week selling streak.2026年8月10日
Chart of the day 2026/08/10: Sustained upward momentum
The short-term accumulation phase may well persist. Investors should monitor for a breakout signal before opening new positions.2026年8月10日
Market commentary 2026/08/10: Market recovery
The market delivered a positive performance as the index edged higher amid improving liquidity, suggesting that buying demand is gradually returning. Nevertheless, selling pressure has remained evident in recent sessions and has repeatedly capped the market's upside, indicating that risks persist. Further confirmation signals will be needed to reinforce the current recovery trend.2026年8月10日
Derivatives 2026/08/10: Selling pressure at higher price levels
Although selling pressure persists, the signals remain mixed. Traders should therefore wait for confirmation signals before opening new positions.2026年8月10日
![GMD – Brief – [NONRATED] – Gemalink and Divestments Drove 2Q26](/_next/image?url=https%3A%2F%2Fdms2stj3pztto.cloudfront.net%2Fryzbf1lp%2Fgmd-new.jpg%3Fformat%3Dwebp%26height%3D608%26mode%3Dcrop%26quality%3D80%26width%3D1080&w=3840&q=75)
GMD – Brief – [NONRATED] – Gemalink and Divestments Drove 2Q26
In 2Q26, GMD reported net revenue of VND1,762bn (+18% YoY). Gross profit increased 35% YoY to VND871bn, and GPM expanded to 49.4%. Gains from associates in 2Q26 soared to VND382bn (+58% YoY), in which Gemalink port (GML) contributed ~VND299bn (+88% YoY). Net profit came in at VND1,285bn (+121% YoY)2026年8月10日
Market commentary 2026/08/07: Declining liquidity
The market recorded a corrective session amid declining liquidity, reflecting cautious investor sentiment and subdued capital flows. Although increased selling pressure pushed the index lower, it remained above its short-term moving averages, suggesting that the current recovery trend has not yet been broken. However, the market may be entering a consolidation phase and will require further confirmation signals to determine its near-term direction.2026年8月7日
Derivatives 2026/08/07: Selling pressure?
Signals remain mixed, with liquidity still subdued. Traders should therefore wait for confirmation signals before re-opening new positions.2026年8月7日
![Banking - Note - [NEUTRAL] - Earnings beat estimates](/_next/image?url=https%3A%2F%2Fdms2stj3pztto.cloudfront.net%2Fj3phccmy%2Fbanking.jpg%3Fformat%3Dwebp%26height%3D608%26mode%3Dcrop%26quality%3D80%26width%3D1080&w=3840&q=75)
Banking - Note - [NEUTRAL] - Earnings beat estimates
Aggregated 2Q26 PAT across 27 listed banks surged +25.4% YoY and +18.5% QoQ. This strong performance was driven by: (1) robust credit growth, (2) a recovery in service fee activities, (3) strong momentum in other incomes, and (4) well-controlled operating expenses and provision costs. Consequently, 1H26 earnings reached nearly 50% of full-year 2026 guidance.2026年8月7日
31W26: SBV returns to net injection amidst interbank rate surge
During 31W26, the SBV returned to a net liquidity injection via open market operations after three consecutive weeks of net withdrawal, introducing multiple longer-term repo tenors to support commercial banks amidst rising funding demand. Short-term interbank rates surged sharply, reflecting re-emerging short-term liquidity pressures across the banking system. On the FX front, the domestic USDVND exchange rate registered a slight decrease of 0.11% WoW to 26,296, aligned with the weakening U.S. dollar as diplomatic de-escalation efforts in the Middle East helped pull back crude oil prices. However, domestic downside momentum was constrained by persistent foreign net selling on the HoSE and ongoing trade deficit pressures.2026年8月6日
Market commentary 2026/08/06: Late-session selling pressure
The market recorded a slight decline following the previous recovery. However, the index remained above its 10- and 20-period moving averages (MA10 and MA20), indicating that the short-term recovery trend has not been broken, while these moving averages continue to serve as important support levels. Therefore, market developments in the coming sessions should be closely monitored to assess whether the current recovery can be sustained and extended.2026年8月6日
Derivatives 2026/08/06: A reversal signal?
The signals remain inconsistent, and liquidity stays at a low level. Investors should therefore wait for confirmation signals before they reopen new positions.2026年8月6日
精选优惠
Derivatives 2026/08/12: Wait for a breakout signal
The uptrend is confirmed by the increase in volume. Therefore, traders may consider reopening Long positions.2026年8月12日
GEG - Earnings Review - [HOLD] - 2Q26: Finance costs pressured earnings
Revenue and gross profit reached VND580bn (-7% yoy) and VND237bn (-13% yoy), respectively, mainly supported by the solar power segment. As a result, NPAT came in at VND8bn (-95% yoy), mainly due to (i) weaker earnings from the hydropower and wind power segments; (ii) a contraction in gross margin to 40.9% (-2.8%p yoy) from 43.7% in 2Q262026年8月12日
July 2026: Bond issuance and repurchase value in July fell
Vietnam’s corporate bond market weakened in July 2026. Total issuance fell 80% MoM and 42% YoY to VND26.3tn, with banks accounting for 78%, led by HDBank and Sacombank. Real estate contributed 11.4%, mainly from Vinhomes. The average coupon rate remained at 5.3%, while real estate and banking rates rose to 12.5% and 9.0%, respectively. Bond repurchases declined to VND15.4tn, down 78.2% MoM and 42.8% YoY, with banks contributing 85.5%, mainly OCB and VPBank. Meanwhile, late payments surged to nearly VND8.0tn, indicating rising maturity pressure. August maturities are estimated at VND10.1tn, concentrated in real estate and banking. Secondary market trading remained relatively stable at VND153.3tn, down 2.2% MoM but up 22.6% YoY, while average YTM edged up to 8.26%.2026年8月11日
Market commentary 2026/08/11: Maintaining the uptrend
The market posted gains alongside improving liquidity, indicating that buying demand is strengthening and capital flows are gradually returning. In addition, the index continued to hold above its 10- and 20-period moving averages, suggesting that the short-term recovery trend remains intact, while these moving averages continue to serve as support levels for the index.2026年8月11日
Derivatives 2026/08/11: Uptrend confirmed
The uptrend is confirmed by a breakout session on rising volume. Investors may therefore consider reopening Long positions.2026年8月11日
Covered warrant 2026/08/11: Positive developments
During the week, the covered warrant market showed signs of improvement, with liquidity edging higher and the number of gainers outnumbering decliners. Meanwhile, the underlying market also posted a positive performance, rising 1.8% for the week, indicating an improvement in trading sentiment and providing support for activity in the covered warrant market.2026年8月11日
Market Trader 2026/08/11: Foreign investors return to strong net buying after 20-week selling streak
By investor group, trading activity among domestic retail investors reversed to an increase, rising 11.3% from the previous week. Meanwhile, domestic institutional investors continued to reduce their trading activity, down 2.3% during the week.2026年8月11日
Strategic Insight - 08/2026: The right time to buy?
Despite external pressures on economic growth, we believe the present offers a suitable window to allocate capital to the equity market, supported by the recovery in macroeconomic fundamentals and our statistical analysis of entry timing following sharp market declines.2026年8月11日
PVD – Earnings Review – [HOLD] – 2Q26: NPAT shrank, against expectation
PVD reported 2Q26 revenue of VND3,028bn (+24% yoy, ~73% of KIS forecast). Gross profit increased modestly by 5% yoy to VND544bn (~53% of KIS forecast). The weaker-than-expected earnings were mainly attributable to significantly lower profitability from the Drilling segment. 2Q26 NPAT declined to VND178bn (-29% yoy, -41% qoq), significantly below our expectations.2026年8月11日
32W26: Interbank rates ease as SBV expands net injection
During 32W26, the SBV expanded its net liquidity injection into the banking system via open market operations, continuing to offer longer-term repo tenors to address persistent short-term tightness. Following the central bank's liquidity support, interbank rates declined sharply across most tenors. On the FX front, the domestic USDVND exchange rate dropped significantly by 0.35% WoW to 26,205, aligned with a weaker U.S. dollar following weak U.S. labor data and a reversal to net buying by foreign investors on the HoSE after a 20-week selling streak.2026年8月10日
Chart of the day 2026/08/10: Sustained upward momentum
The short-term accumulation phase may well persist. Investors should monitor for a breakout signal before opening new positions.2026年8月10日
Market commentary 2026/08/10: Market recovery
The market delivered a positive performance as the index edged higher amid improving liquidity, suggesting that buying demand is gradually returning. Nevertheless, selling pressure has remained evident in recent sessions and has repeatedly capped the market's upside, indicating that risks persist. Further confirmation signals will be needed to reinforce the current recovery trend.2026年8月10日
Derivatives 2026/08/10: Selling pressure at higher price levels
Although selling pressure persists, the signals remain mixed. Traders should therefore wait for confirmation signals before opening new positions.2026年8月10日
GMD – Brief – [NONRATED] – Gemalink and Divestments Drove 2Q26
In 2Q26, GMD reported net revenue of VND1,762bn (+18% YoY). Gross profit increased 35% YoY to VND871bn, and GPM expanded to 49.4%. Gains from associates in 2Q26 soared to VND382bn (+58% YoY), in which Gemalink port (GML) contributed ~VND299bn (+88% YoY). Net profit came in at VND1,285bn (+121% YoY)2026年8月10日
Market commentary 2026/08/07: Declining liquidity
The market recorded a corrective session amid declining liquidity, reflecting cautious investor sentiment and subdued capital flows. Although increased selling pressure pushed the index lower, it remained above its short-term moving averages, suggesting that the current recovery trend has not yet been broken. However, the market may be entering a consolidation phase and will require further confirmation signals to determine its near-term direction.2026年8月7日
Derivatives 2026/08/07: Selling pressure?
Signals remain mixed, with liquidity still subdued. Traders should therefore wait for confirmation signals before re-opening new positions.2026年8月7日
Banking - Note - [NEUTRAL] - Earnings beat estimates
Aggregated 2Q26 PAT across 27 listed banks surged +25.4% YoY and +18.5% QoQ. This strong performance was driven by: (1) robust credit growth, (2) a recovery in service fee activities, (3) strong momentum in other incomes, and (4) well-controlled operating expenses and provision costs. Consequently, 1H26 earnings reached nearly 50% of full-year 2026 guidance.2026年8月7日
31W26: SBV returns to net injection amidst interbank rate surge
During 31W26, the SBV returned to a net liquidity injection via open market operations after three consecutive weeks of net withdrawal, introducing multiple longer-term repo tenors to support commercial banks amidst rising funding demand. Short-term interbank rates surged sharply, reflecting re-emerging short-term liquidity pressures across the banking system. On the FX front, the domestic USDVND exchange rate registered a slight decrease of 0.11% WoW to 26,296, aligned with the weakening U.S. dollar as diplomatic de-escalation efforts in the Middle East helped pull back crude oil prices. However, domestic downside momentum was constrained by persistent foreign net selling on the HoSE and ongoing trade deficit pressures.2026年8月6日
Market commentary 2026/08/06: Late-session selling pressure
The market recorded a slight decline following the previous recovery. However, the index remained above its 10- and 20-period moving averages (MA10 and MA20), indicating that the short-term recovery trend has not been broken, while these moving averages continue to serve as important support levels. Therefore, market developments in the coming sessions should be closely monitored to assess whether the current recovery can be sustained and extended.2026年8月6日
Derivatives 2026/08/06: A reversal signal?
The signals remain inconsistent, and liquidity stays at a low level. Investors should therefore wait for confirmation signals before they reopen new positions.2026年8月6日
精选新闻
Derivatives 2026/08/12: Wait for a breakout signal
The uptrend is confirmed by the increase in volume. Therefore, traders may consider reopening Long positions.2026年8月12日
GEG - Earnings Review - [HOLD] - 2Q26: Finance costs pressured earnings
Revenue and gross profit reached VND580bn (-7% yoy) and VND237bn (-13% yoy), respectively, mainly supported by the solar power segment. As a result, NPAT came in at VND8bn (-95% yoy), mainly due to (i) weaker earnings from the hydropower and wind power segments; (ii) a contraction in gross margin to 40.9% (-2.8%p yoy) from 43.7% in 2Q262026年8月12日
July 2026: Bond issuance and repurchase value in July fell
Vietnam’s corporate bond market weakened in July 2026. Total issuance fell 80% MoM and 42% YoY to VND26.3tn, with banks accounting for 78%, led by HDBank and Sacombank. Real estate contributed 11.4%, mainly from Vinhomes. The average coupon rate remained at 5.3%, while real estate and banking rates rose to 12.5% and 9.0%, respectively. Bond repurchases declined to VND15.4tn, down 78.2% MoM and 42.8% YoY, with banks contributing 85.5%, mainly OCB and VPBank. Meanwhile, late payments surged to nearly VND8.0tn, indicating rising maturity pressure. August maturities are estimated at VND10.1tn, concentrated in real estate and banking. Secondary market trading remained relatively stable at VND153.3tn, down 2.2% MoM but up 22.6% YoY, while average YTM edged up to 8.26%.2026年8月11日
Market commentary 2026/08/11: Maintaining the uptrend
The market posted gains alongside improving liquidity, indicating that buying demand is strengthening and capital flows are gradually returning. In addition, the index continued to hold above its 10- and 20-period moving averages, suggesting that the short-term recovery trend remains intact, while these moving averages continue to serve as support levels for the index.2026年8月11日
Derivatives 2026/08/11: Uptrend confirmed
The uptrend is confirmed by a breakout session on rising volume. Investors may therefore consider reopening Long positions.2026年8月11日
Covered warrant 2026/08/11: Positive developments
During the week, the covered warrant market showed signs of improvement, with liquidity edging higher and the number of gainers outnumbering decliners. Meanwhile, the underlying market also posted a positive performance, rising 1.8% for the week, indicating an improvement in trading sentiment and providing support for activity in the covered warrant market.2026年8月11日
Market Trader 2026/08/11: Foreign investors return to strong net buying after 20-week selling streak
By investor group, trading activity among domestic retail investors reversed to an increase, rising 11.3% from the previous week. Meanwhile, domestic institutional investors continued to reduce their trading activity, down 2.3% during the week.2026年8月11日
Strategic Insight - 08/2026: The right time to buy?
Despite external pressures on economic growth, we believe the present offers a suitable window to allocate capital to the equity market, supported by the recovery in macroeconomic fundamentals and our statistical analysis of entry timing following sharp market declines.2026年8月11日
PVD – Earnings Review – [HOLD] – 2Q26: NPAT shrank, against expectation
PVD reported 2Q26 revenue of VND3,028bn (+24% yoy, ~73% of KIS forecast). Gross profit increased modestly by 5% yoy to VND544bn (~53% of KIS forecast). The weaker-than-expected earnings were mainly attributable to significantly lower profitability from the Drilling segment. 2Q26 NPAT declined to VND178bn (-29% yoy, -41% qoq), significantly below our expectations.2026年8月11日
32W26: Interbank rates ease as SBV expands net injection
During 32W26, the SBV expanded its net liquidity injection into the banking system via open market operations, continuing to offer longer-term repo tenors to address persistent short-term tightness. Following the central bank's liquidity support, interbank rates declined sharply across most tenors. On the FX front, the domestic USDVND exchange rate dropped significantly by 0.35% WoW to 26,205, aligned with a weaker U.S. dollar following weak U.S. labor data and a reversal to net buying by foreign investors on the HoSE after a 20-week selling streak.2026年8月10日
Chart of the day 2026/08/10: Sustained upward momentum
The short-term accumulation phase may well persist. Investors should monitor for a breakout signal before opening new positions.2026年8月10日
Market commentary 2026/08/10: Market recovery
The market delivered a positive performance as the index edged higher amid improving liquidity, suggesting that buying demand is gradually returning. Nevertheless, selling pressure has remained evident in recent sessions and has repeatedly capped the market's upside, indicating that risks persist. Further confirmation signals will be needed to reinforce the current recovery trend.2026年8月10日
Derivatives 2026/08/10: Selling pressure at higher price levels
Although selling pressure persists, the signals remain mixed. Traders should therefore wait for confirmation signals before opening new positions.2026年8月10日
GMD – Brief – [NONRATED] – Gemalink and Divestments Drove 2Q26
In 2Q26, GMD reported net revenue of VND1,762bn (+18% YoY). Gross profit increased 35% YoY to VND871bn, and GPM expanded to 49.4%. Gains from associates in 2Q26 soared to VND382bn (+58% YoY), in which Gemalink port (GML) contributed ~VND299bn (+88% YoY). Net profit came in at VND1,285bn (+121% YoY)2026年8月10日
Market commentary 2026/08/07: Declining liquidity
The market recorded a corrective session amid declining liquidity, reflecting cautious investor sentiment and subdued capital flows. Although increased selling pressure pushed the index lower, it remained above its short-term moving averages, suggesting that the current recovery trend has not yet been broken. However, the market may be entering a consolidation phase and will require further confirmation signals to determine its near-term direction.2026年8月7日
Derivatives 2026/08/07: Selling pressure?
Signals remain mixed, with liquidity still subdued. Traders should therefore wait for confirmation signals before re-opening new positions.2026年8月7日
Banking - Note - [NEUTRAL] - Earnings beat estimates
Aggregated 2Q26 PAT across 27 listed banks surged +25.4% YoY and +18.5% QoQ. This strong performance was driven by: (1) robust credit growth, (2) a recovery in service fee activities, (3) strong momentum in other incomes, and (4) well-controlled operating expenses and provision costs. Consequently, 1H26 earnings reached nearly 50% of full-year 2026 guidance.2026年8月7日
31W26: SBV returns to net injection amidst interbank rate surge
During 31W26, the SBV returned to a net liquidity injection via open market operations after three consecutive weeks of net withdrawal, introducing multiple longer-term repo tenors to support commercial banks amidst rising funding demand. Short-term interbank rates surged sharply, reflecting re-emerging short-term liquidity pressures across the banking system. On the FX front, the domestic USDVND exchange rate registered a slight decrease of 0.11% WoW to 26,296, aligned with the weakening U.S. dollar as diplomatic de-escalation efforts in the Middle East helped pull back crude oil prices. However, domestic downside momentum was constrained by persistent foreign net selling on the HoSE and ongoing trade deficit pressures.2026年8月6日
Market commentary 2026/08/06: Late-session selling pressure
The market recorded a slight decline following the previous recovery. However, the index remained above its 10- and 20-period moving averages (MA10 and MA20), indicating that the short-term recovery trend has not been broken, while these moving averages continue to serve as important support levels. Therefore, market developments in the coming sessions should be closely monitored to assess whether the current recovery can be sustained and extended.2026年8月6日
Derivatives 2026/08/06: A reversal signal?
The signals remain inconsistent, and liquidity stays at a low level. Investors should therefore wait for confirmation signals before they reopen new positions.2026年8月6日
精选优惠
Derivatives 2026/08/12: Wait for a breakout signal
The uptrend is confirmed by the increase in volume. Therefore, traders may consider reopening Long positions.2026年8月12日
GEG - Earnings Review - [HOLD] - 2Q26: Finance costs pressured earnings
Revenue and gross profit reached VND580bn (-7% yoy) and VND237bn (-13% yoy), respectively, mainly supported by the solar power segment. As a result, NPAT came in at VND8bn (-95% yoy), mainly due to (i) weaker earnings from the hydropower and wind power segments; (ii) a contraction in gross margin to 40.9% (-2.8%p yoy) from 43.7% in 2Q262026年8月12日
July 2026: Bond issuance and repurchase value in July fell
Vietnam’s corporate bond market weakened in July 2026. Total issuance fell 80% MoM and 42% YoY to VND26.3tn, with banks accounting for 78%, led by HDBank and Sacombank. Real estate contributed 11.4%, mainly from Vinhomes. The average coupon rate remained at 5.3%, while real estate and banking rates rose to 12.5% and 9.0%, respectively. Bond repurchases declined to VND15.4tn, down 78.2% MoM and 42.8% YoY, with banks contributing 85.5%, mainly OCB and VPBank. Meanwhile, late payments surged to nearly VND8.0tn, indicating rising maturity pressure. August maturities are estimated at VND10.1tn, concentrated in real estate and banking. Secondary market trading remained relatively stable at VND153.3tn, down 2.2% MoM but up 22.6% YoY, while average YTM edged up to 8.26%.2026年8月11日
Market commentary 2026/08/11: Maintaining the uptrend
The market posted gains alongside improving liquidity, indicating that buying demand is strengthening and capital flows are gradually returning. In addition, the index continued to hold above its 10- and 20-period moving averages, suggesting that the short-term recovery trend remains intact, while these moving averages continue to serve as support levels for the index.2026年8月11日
Derivatives 2026/08/11: Uptrend confirmed
The uptrend is confirmed by a breakout session on rising volume. Investors may therefore consider reopening Long positions.2026年8月11日
Covered warrant 2026/08/11: Positive developments
During the week, the covered warrant market showed signs of improvement, with liquidity edging higher and the number of gainers outnumbering decliners. Meanwhile, the underlying market also posted a positive performance, rising 1.8% for the week, indicating an improvement in trading sentiment and providing support for activity in the covered warrant market.2026年8月11日
Market Trader 2026/08/11: Foreign investors return to strong net buying after 20-week selling streak
By investor group, trading activity among domestic retail investors reversed to an increase, rising 11.3% from the previous week. Meanwhile, domestic institutional investors continued to reduce their trading activity, down 2.3% during the week.2026年8月11日
Strategic Insight - 08/2026: The right time to buy?
Despite external pressures on economic growth, we believe the present offers a suitable window to allocate capital to the equity market, supported by the recovery in macroeconomic fundamentals and our statistical analysis of entry timing following sharp market declines.2026年8月11日
PVD – Earnings Review – [HOLD] – 2Q26: NPAT shrank, against expectation
PVD reported 2Q26 revenue of VND3,028bn (+24% yoy, ~73% of KIS forecast). Gross profit increased modestly by 5% yoy to VND544bn (~53% of KIS forecast). The weaker-than-expected earnings were mainly attributable to significantly lower profitability from the Drilling segment. 2Q26 NPAT declined to VND178bn (-29% yoy, -41% qoq), significantly below our expectations.2026年8月11日
32W26: Interbank rates ease as SBV expands net injection
During 32W26, the SBV expanded its net liquidity injection into the banking system via open market operations, continuing to offer longer-term repo tenors to address persistent short-term tightness. Following the central bank's liquidity support, interbank rates declined sharply across most tenors. On the FX front, the domestic USDVND exchange rate dropped significantly by 0.35% WoW to 26,205, aligned with a weaker U.S. dollar following weak U.S. labor data and a reversal to net buying by foreign investors on the HoSE after a 20-week selling streak.2026年8月10日
Chart of the day 2026/08/10: Sustained upward momentum
The short-term accumulation phase may well persist. Investors should monitor for a breakout signal before opening new positions.2026年8月10日
Market commentary 2026/08/10: Market recovery
The market delivered a positive performance as the index edged higher amid improving liquidity, suggesting that buying demand is gradually returning. Nevertheless, selling pressure has remained evident in recent sessions and has repeatedly capped the market's upside, indicating that risks persist. Further confirmation signals will be needed to reinforce the current recovery trend.2026年8月10日
Derivatives 2026/08/10: Selling pressure at higher price levels
Although selling pressure persists, the signals remain mixed. Traders should therefore wait for confirmation signals before opening new positions.2026年8月10日
GMD – Brief – [NONRATED] – Gemalink and Divestments Drove 2Q26
In 2Q26, GMD reported net revenue of VND1,762bn (+18% YoY). Gross profit increased 35% YoY to VND871bn, and GPM expanded to 49.4%. Gains from associates in 2Q26 soared to VND382bn (+58% YoY), in which Gemalink port (GML) contributed ~VND299bn (+88% YoY). Net profit came in at VND1,285bn (+121% YoY)2026年8月10日
Market commentary 2026/08/07: Declining liquidity
The market recorded a corrective session amid declining liquidity, reflecting cautious investor sentiment and subdued capital flows. Although increased selling pressure pushed the index lower, it remained above its short-term moving averages, suggesting that the current recovery trend has not yet been broken. However, the market may be entering a consolidation phase and will require further confirmation signals to determine its near-term direction.2026年8月7日
Derivatives 2026/08/07: Selling pressure?
Signals remain mixed, with liquidity still subdued. Traders should therefore wait for confirmation signals before re-opening new positions.2026年8月7日
Banking - Note - [NEUTRAL] - Earnings beat estimates
Aggregated 2Q26 PAT across 27 listed banks surged +25.4% YoY and +18.5% QoQ. This strong performance was driven by: (1) robust credit growth, (2) a recovery in service fee activities, (3) strong momentum in other incomes, and (4) well-controlled operating expenses and provision costs. Consequently, 1H26 earnings reached nearly 50% of full-year 2026 guidance.2026年8月7日
31W26: SBV returns to net injection amidst interbank rate surge
During 31W26, the SBV returned to a net liquidity injection via open market operations after three consecutive weeks of net withdrawal, introducing multiple longer-term repo tenors to support commercial banks amidst rising funding demand. Short-term interbank rates surged sharply, reflecting re-emerging short-term liquidity pressures across the banking system. On the FX front, the domestic USDVND exchange rate registered a slight decrease of 0.11% WoW to 26,296, aligned with the weakening U.S. dollar as diplomatic de-escalation efforts in the Middle East helped pull back crude oil prices. However, domestic downside momentum was constrained by persistent foreign net selling on the HoSE and ongoing trade deficit pressures.2026年8月6日
Market commentary 2026/08/06: Late-session selling pressure
The market recorded a slight decline following the previous recovery. However, the index remained above its 10- and 20-period moving averages (MA10 and MA20), indicating that the short-term recovery trend has not been broken, while these moving averages continue to serve as important support levels. Therefore, market developments in the coming sessions should be closely monitored to assess whether the current recovery can be sustained and extended.2026年8月6日
Derivatives 2026/08/06: A reversal signal?
The signals remain inconsistent, and liquidity stays at a low level. Investors should therefore wait for confirmation signals before they reopen new positions.2026年8月6日