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Chart of the day 2026/06/22: Awaiting confirmation signals

Chart of the day 2026/06/22: Awaiting confirmation signals

The signals remain inconsistent. Although the breakout session points to a possible reversal of the short-term downtrend, investors should wait for additional confirmation signals before reopening new positions.

June 22, 2026

Market commentary 2026/06/19: Green returns

Market commentary 2026/06/19: Green returns

Although the market posted a gain, liquidity declined. Moreover, the upward momentum was driven mainly by the "Vin" stocks, while most other sectors traded cautiously. This development reflects a lack of broad-based participation from market liquidity and suggests that the current trend still requires further confirmation from the market.

June 19, 2026

Derivatives 2026/06/19: Breakout signal anticipation

Derivatives 2026/06/19: Breakout signal anticipation

Technical signals lack uniformity. Therefore, traders need further signals to confirm the trend. Based on these signals, investors can initiate new positions.

June 19, 2026

Market commentary 2026/06/18: Bottom-fishing demand emerged

Market commentary 2026/06/18: Bottom-fishing demand emerged

The market closed lower, although bottom-fishing demand emerged and helped the index recover part of its losses toward the end of the session. This suggests that cash flow is still monitoring and participating at lower price levels. However, selling pressure remains present, indicating that short-term market movements are likely to remain volatile. Therefore, additional signals from upcoming sessions will be needed to confirm the market's direction more clearly.

June 18, 2026

Derivatives 2026/06/18: Capital flows at lower  price levels

Derivatives 2026/06/18: Capital flows at lower price levels

Technical signals lack consistency at this stage. Therefore, traders should wait for additional confirmation signals on the next trend. Based on such signals, investors may then consider reopening new positions.

June 18, 2026

Market commentary 2026/06/17: Selling pressure on large-cap stocks

Market commentary 2026/06/17: Selling pressure on large-cap stocks

The market successfully moved above the 1,800-point threshold and reclaimed its 100-day moving average, signaling a positive technical development. However, liquidity remained subdued and selling pressure was still evident during the session, suggesting that investor sentiment remains cautious and that the current rebound requires further confirmation.

June 17, 2026

Derivatives 2026/06/17: Awaiting a breakout signal

Derivatives 2026/06/17: Awaiting a breakout signal

Technical signals lack consistency at this stage. Therefore, traders should wait for additional confirmation signals regarding the next trend before reopening new positions.

June 17, 2026

Derivatives 2026/06/16: Awaiting a breakout signal

Derivatives 2026/06/16: Awaiting a breakout signal

Technical signals remain mixed and lack clear confirmation. Investors are advised to wait for additional directional signals before initiating new positions.

June 16, 2026

Market commentary 2026/06/16: Green start to the week

Market commentary 2026/06/16: Green start to the week

The market ended higher with improving liquidity, suggesting that buying interest may be returning after the recent correction. However, the index has yet to break above its key moving averages, indicating that the prevailing downtrend has not been fully reversed. Therefore, additional signals from upcoming sessions will be needed to confirm the market’s direction.

June 16, 2026

Covered warrant 2026/06/16: Capital flows continue to decline

Covered warrant 2026/06/16: Capital flows continue to decline

During the week, the covered warrant market continued to show negative performance as liquidity declined and most warrants closed lower. In the underlying equity market, the index also corrected while liquidity remained subdued, indicating that cautious investor sentiment continues to dominate capital flows.

June 16, 2026

Market Trader 2026/06/16: Proprietary selling pressure eased significantly

Market Trader 2026/06/16: Proprietary selling pressure eased significantly

By investor group, trading activity from both domestic retail investors and domestic institutional investors continued to weaken, falling 4.3% and 25.2%, respectively, from the previous week.

June 16, 2026

24W26: SBV extends net withdrawal as interbank rates edge lower

24W26: SBV extends net withdrawal as interbank rates edge lower

In 24W26, the SBV extends its net liquidity withdrawal for a second consecutive week as immediate system pressures ease. Tracking this development, interbank rates decline across all tenors with a steeper yield curve, driven by a sharp pullback at the short end. Regarding the FX market, the greenback's momentum completely reversed toward the weekend as a Middle East peace breakthrough dragged the dollar down, allowing the domestic USDVND rate to edge lower despite persistent foreign net selling.

June 15, 2026

Chart of the day 2026/06/15: Selling pressure remains

Chart of the day 2026/06/15: Selling pressure remains

The short-term downtrend has been confirmed. In this context, investors should exercise caution, monitor the market closely, and wait for clear reversal signals before re-entering new positions.

June 15, 2026

Market commentary 2026/06/15: Selling pressure intensified

Market commentary 2026/06/15: Selling pressure intensified

The market continues to move sideways in the short term as buying demand remains insufficient to generate a meaningful breakout. Moreover, the index has yet to reclaim its medium-term moving average, suggesting that the current trend has not turned convincingly positive and requires further confirmation signals in the coming sessions.

June 15, 2026

Derivatives 2026/06/15: Late-session selling pressure

Derivatives 2026/06/15: Late-session selling pressure

With the Bearish Engulfing pattern confirmed last week, the downtrend may be re-established. Accordingly, traders may consider re-entering short positions in the upcoming session.

June 15, 2026

VPB- Brief - [NONRATED] - Strong credit expansion

VPB- Brief - [NONRATED] - Strong credit expansion

1Q26 PAT rose +61% YoY to VND 6,329bn, partially driven by a low base in 1Q25 and supported by strong operating income growth (+26% YoY). 1Q26 earnings completed 19% of the full-year 2026 guidance.

June 15, 2026

Market commentary 2026/06/12: Selling pressure returns

Market commentary 2026/06/12: Selling pressure returns

The market ended lower while liquidity remained subdued, suggesting that cautious investor sentiment continues to dominate. This performance also indicates that the market has yet to find a sufficiently strong catalyst for a sustainable recovery, and short-term volatility is likely to persist.

June 12, 2026

Derivatives 2026/06/12: Declining liquidity

Derivatives 2026/06/12: Declining liquidity

Current signals lack consistency. Traders should therefore wait for further trend confirmation before opening new positions.

June 12, 2026

FPT - Brief - [NONRATED] - 1Q26: FPT Shop rebounds, Long Chau sustains strong growth

FPT - Brief - [NONRATED] - 1Q26: FPT Shop rebounds, Long Chau sustains strong growth

In 1Q26, FRT recorded revenue of VND15,117bn (+29.5% yoy) and operating profit of VND474bn (+49% yoy). Both its core business chains, FPT Shop and Long Chau, recorded revenue growth and improved operating efficiency.

June 12, 2026

Market commentary: Green momentum continues

Market commentary: Green momentum continues

The market recorded its second consecutive recovery session, accompanied by a slight improvement in liquidity. Meanwhile, the index is approaching its 100-day moving average (MA100), suggesting that the market is nearing an important testing zone that could help determine its next directional trend in the period ahead.

June 11, 2026

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Chart of the day 2026/06/22: Awaiting confirmation signals

Chart of the day 2026/06/22: Awaiting confirmation signals

The signals remain inconsistent. Although the breakout session points to a possible reversal of the short-term downtrend, investors should wait for additional confirmation signals before reopening new positions.

June 22, 2026

Market commentary 2026/06/19: Green returns

Market commentary 2026/06/19: Green returns

Although the market posted a gain, liquidity declined. Moreover, the upward momentum was driven mainly by the "Vin" stocks, while most other sectors traded cautiously. This development reflects a lack of broad-based participation from market liquidity and suggests that the current trend still requires further confirmation from the market.

June 19, 2026

Derivatives 2026/06/19: Breakout signal anticipation

Derivatives 2026/06/19: Breakout signal anticipation

Technical signals lack uniformity. Therefore, traders need further signals to confirm the trend. Based on these signals, investors can initiate new positions.

June 19, 2026

Market commentary 2026/06/18: Bottom-fishing demand emerged

Market commentary 2026/06/18: Bottom-fishing demand emerged

The market closed lower, although bottom-fishing demand emerged and helped the index recover part of its losses toward the end of the session. This suggests that cash flow is still monitoring and participating at lower price levels. However, selling pressure remains present, indicating that short-term market movements are likely to remain volatile. Therefore, additional signals from upcoming sessions will be needed to confirm the market's direction more clearly.

June 18, 2026

Derivatives 2026/06/18: Capital flows at lower  price levels

Derivatives 2026/06/18: Capital flows at lower price levels

Technical signals lack consistency at this stage. Therefore, traders should wait for additional confirmation signals on the next trend. Based on such signals, investors may then consider reopening new positions.

June 18, 2026

Market commentary 2026/06/17: Selling pressure on large-cap stocks

Market commentary 2026/06/17: Selling pressure on large-cap stocks

The market successfully moved above the 1,800-point threshold and reclaimed its 100-day moving average, signaling a positive technical development. However, liquidity remained subdued and selling pressure was still evident during the session, suggesting that investor sentiment remains cautious and that the current rebound requires further confirmation.

June 17, 2026

Derivatives 2026/06/17: Awaiting a breakout signal

Derivatives 2026/06/17: Awaiting a breakout signal

Technical signals lack consistency at this stage. Therefore, traders should wait for additional confirmation signals regarding the next trend before reopening new positions.

June 17, 2026

Derivatives 2026/06/16: Awaiting a breakout signal

Derivatives 2026/06/16: Awaiting a breakout signal

Technical signals remain mixed and lack clear confirmation. Investors are advised to wait for additional directional signals before initiating new positions.

June 16, 2026

Market commentary 2026/06/16: Green start to the week

Market commentary 2026/06/16: Green start to the week

The market ended higher with improving liquidity, suggesting that buying interest may be returning after the recent correction. However, the index has yet to break above its key moving averages, indicating that the prevailing downtrend has not been fully reversed. Therefore, additional signals from upcoming sessions will be needed to confirm the market’s direction.

June 16, 2026

Covered warrant 2026/06/16: Capital flows continue to decline

Covered warrant 2026/06/16: Capital flows continue to decline

During the week, the covered warrant market continued to show negative performance as liquidity declined and most warrants closed lower. In the underlying equity market, the index also corrected while liquidity remained subdued, indicating that cautious investor sentiment continues to dominate capital flows.

June 16, 2026

Market Trader 2026/06/16: Proprietary selling pressure eased significantly

Market Trader 2026/06/16: Proprietary selling pressure eased significantly

By investor group, trading activity from both domestic retail investors and domestic institutional investors continued to weaken, falling 4.3% and 25.2%, respectively, from the previous week.

June 16, 2026

24W26: SBV extends net withdrawal as interbank rates edge lower

24W26: SBV extends net withdrawal as interbank rates edge lower

In 24W26, the SBV extends its net liquidity withdrawal for a second consecutive week as immediate system pressures ease. Tracking this development, interbank rates decline across all tenors with a steeper yield curve, driven by a sharp pullback at the short end. Regarding the FX market, the greenback's momentum completely reversed toward the weekend as a Middle East peace breakthrough dragged the dollar down, allowing the domestic USDVND rate to edge lower despite persistent foreign net selling.

June 15, 2026

Chart of the day 2026/06/15: Selling pressure remains

Chart of the day 2026/06/15: Selling pressure remains

The short-term downtrend has been confirmed. In this context, investors should exercise caution, monitor the market closely, and wait for clear reversal signals before re-entering new positions.

June 15, 2026

Market commentary 2026/06/15: Selling pressure intensified

Market commentary 2026/06/15: Selling pressure intensified

The market continues to move sideways in the short term as buying demand remains insufficient to generate a meaningful breakout. Moreover, the index has yet to reclaim its medium-term moving average, suggesting that the current trend has not turned convincingly positive and requires further confirmation signals in the coming sessions.

June 15, 2026

Derivatives 2026/06/15: Late-session selling pressure

Derivatives 2026/06/15: Late-session selling pressure

With the Bearish Engulfing pattern confirmed last week, the downtrend may be re-established. Accordingly, traders may consider re-entering short positions in the upcoming session.

June 15, 2026

VPB- Brief - [NONRATED] - Strong credit expansion

VPB- Brief - [NONRATED] - Strong credit expansion

1Q26 PAT rose +61% YoY to VND 6,329bn, partially driven by a low base in 1Q25 and supported by strong operating income growth (+26% YoY). 1Q26 earnings completed 19% of the full-year 2026 guidance.

June 15, 2026

Market commentary 2026/06/12: Selling pressure returns

Market commentary 2026/06/12: Selling pressure returns

The market ended lower while liquidity remained subdued, suggesting that cautious investor sentiment continues to dominate. This performance also indicates that the market has yet to find a sufficiently strong catalyst for a sustainable recovery, and short-term volatility is likely to persist.

June 12, 2026

Derivatives 2026/06/12: Declining liquidity

Derivatives 2026/06/12: Declining liquidity

Current signals lack consistency. Traders should therefore wait for further trend confirmation before opening new positions.

June 12, 2026

FPT - Brief - [NONRATED] - 1Q26: FPT Shop rebounds, Long Chau sustains strong growth

FPT - Brief - [NONRATED] - 1Q26: FPT Shop rebounds, Long Chau sustains strong growth

In 1Q26, FRT recorded revenue of VND15,117bn (+29.5% yoy) and operating profit of VND474bn (+49% yoy). Both its core business chains, FPT Shop and Long Chau, recorded revenue growth and improved operating efficiency.

June 12, 2026

Market commentary: Green momentum continues

Market commentary: Green momentum continues

The market recorded its second consecutive recovery session, accompanied by a slight improvement in liquidity. Meanwhile, the index is approaching its 100-day moving average (MA100), suggesting that the market is nearing an important testing zone that could help determine its next directional trend in the period ahead.

June 11, 2026

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29W26: SBV extends liquidity withdrawal
29W26: SBV extends liquidity withdrawalDuring Week 29 of 2026, the SBV remained a net liquidity absorber via open market operations as banking system liquidity continued to improve. Short-term interbank rates (overnight to two-week) declined further, reflecting easing liquidity pressures following the implementation of new liquidity ratio regulations. Meanwhile, longer-tenor rates stayed relatively elevated, indicating tighter funding conditions over longer maturities. On the FX front, USDVND rose marginally by 0.08% compared to the last week to 26,290, mainly due to persistent foreign net equity outflows despite continued weakness in the global U.S. dollar.PDFFI-29W26-Eng-1
July 20, 2026
28W26: SBV reverses to net withdrawal
28W26: SBV reverses to net withdrawalIn 28W26, the SBV returned to a net liquidity withdrawal through open market operations after two consecutive weeks of net injection, as banking system strains successfully eased. Concurrently, interbank rates softened at the short end of the curve, led by a sharp decline in the overnight segment following the normalization of mid-year funding demand, while longer tenors edged slightly higher. Meanwhile, in the FX market, the domestic interbank USDVND rate edged down to 26,269 despite persistent foreign net selling on the HoSE and hawkish Fed minutes put broader pressure on the currency.PDFFI-28W26-Eng
July 16, 2026
June 2026: The real estate sector emerged as the leading issuer.
June 2026: The real estate sector emerged as the leading issuer.In June, total value of bond issuance declined 9.03% yoy but increased 119.97% mom to VND112,333bn (Fig. 1). The Banking issued VND48,069bn, 53% mom, and accounted for 42.8%. Major issuer was Techcombank (VND9,000bn, Table 1) and Sacombank (VND8,800bn). The Real Estates issued VND53,515 with +260% yoy, +272% mom and accounting for 47.6%, held the first rank of total issuance (Fig. 2). VHM was the main issuer with VND21,000bn and Hung Phat Invest (VND9,300bn). The average coupon rate still remained 5.3% in Jun 2026 (Fig. 3). The Real Estate coupon rate dropped to 11.2%, while the banking coupon rate slightly edged up to 8.6%. Bond tenors were focus on ≤ 3 Years (72.32%). Notably, bond tenor of over 10 years re-arranged after being absent in Dec 2025 (2.37%) (Fig 4). PDFCbond 06-26_Eng_v1
July 13, 2026
27W26: SBV maintains net injection while diverging interbank rates
27W26: SBV maintains net injection while diverging interbank ratesIn 27W26, the SBV continued its net liquidity injection to ease surging pressures in the overnight segment, driven by short-term swap maturities during the week. Concurrently, interbank rates diverged as a spike in immediate cash demand pushed overnight rates sharply higher. In the FX market, the interbank USDVND rate remained virtually unchanged, staying resilient against persistent foreign net selling as a softer global greenback helped alleviate broader depreciation pressures.PDFFI-27W26-Eng
July 9, 2026
6M26: A strong quarter amid turbulence
6M26: A strong quarter amid turbulenceThe second quarter of 2026 ended on a positive note despite a volatile external backdrop, with Vietnam’s real GDP expanding by 8.39% YoY. Growth was supported by resilient retail sales, robust industrial production and impressive FDI performance in both registered and disbursed capital. While geopolitical tensions briefly reignited concerns over global inflation, logistics costs and supply chain disruptions, inflation pressure eased as stress moderated. Nevertheless, unresolved conflict risks, potential trade balance pressure and the ability of domestic growth engines, especially public investment, to sustain momentum will remain key questions for the second half of 2026, particularly as Vietnam continues to pursue its double digit growth ambition.PDFMacro-6M26-Eng-Final_1
July 3, 2026
26W26: SBV shifts to net injection to ease liquidity pressure
26W26: SBV shifts to net injection to ease liquidity pressureIn 26W26, the SBV returned to net liquidity injection after three consecutive weeks of withdrawal to ease liquidity pressures in the banking system. Concurrently, interbank rates diverged across tenors as a sharp decline in the overnight segment contrasted with longer tenors moving higher, indicating that liquidity pressure has merely shifted to the following week rather than being fully resolved. In the FX market, USDVND decreased despite a significant global greenback rebound driven by the Fed’s hawkish outlook, supported by a pause in domestic equity selling pressures as foreign net outflows became insignificant.PDFFI-26W26-Eng
June 29, 2026
25W26: Interbank rates edged higher as SBV extends withdrawal
25W26: Interbank rates edged higher as SBV extends withdrawalIn 25W26, the SBV extended its net liquidity withdrawal for a third consecutive week with total withdrawals over the three-week period reaching VND106.60tn from the banking system. As a result, the interbank curve flattened as short-term rates began to rise amid tighter liquidity conditions. On the FX front, USDVND edged up to 26,318 and continued to move sideways as the U.S. dollar strengthened following the Fed’s hawkish tone and developments in the Middle East.PDFFI-25W26-Eng
June 22, 2026
24W26: SBV extends net withdrawal as interbank rates edge lower
24W26: SBV extends net withdrawal as interbank rates edge lowerIn 24W26, the SBV extends its net liquidity withdrawal for a second consecutive week as immediate system pressures ease. Tracking this development, interbank rates decline across all tenors with a steeper yield curve, driven by a sharp pullback at the short end. Regarding the FX market, the greenback's momentum completely reversed toward the weekend as a Middle East peace breakthrough dragged the dollar down, allowing the domestic USDVND rate to edge lower despite persistent foreign net selling.PDFFI-24W26-Eng
June 15, 2026
May 2026: The banking sector emerged as the leading issuer
May 2026: The banking sector emerged as the leading issuerIn May, total value of bond issuance declined 41.8% yoy and -7.67% mom to VND43,163bn (Fig. 1). The Banking issued VND25,450bn, 26% mom, and accounted for 59%. Major issuer was Techcombank (VND8,000bn, Table 1) and Military Bank (VND7,250bn). The Real Estates issued 14,180VNDbn with +9% yoy, -5% mom and accounting for 32.9% of total issuance (Fig. 2). VHM was the main issuer with VND8,000bn. The average coupon rate still remained 5.3% in May 2026 (Fig. 3). The Real Estate coupon rate increased to 12.5%, while the banking coupon rate maintained at 8.5%. Bond tenors were focus on ≤ 3 Years (82.95%). Notably, bond tenor of 7-10 years re-arranged after being absent in April (11.24%) (Fig 4). PDFCbond 05-26_Eng
June 10, 2026
23W26: SBV withdraws liquidity while interbank rates diverge
23W26: SBV withdraws liquidity while interbank rates divergeIn 23W26, the SBV shifts to a net liquidity withdrawal from the banking system. Besides, interbank rates record a divergence across tenors as short tenors decrease while longer terms increase, accompanied by a notable decline in trading activity. In the FX market, USDVND continues to trade sideways with an upward bias, supported by hawkish Fed expectations. Meanwhile, persistent foreign outflows, as global capital continues to rotate away from emerging markets, are adding further pressure to the USDVND outlook in the coming periods.PDFFI-23W26-Eng
June 8, 2026
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