Market Analysis

All

Macro

Macro Insight

Fixed Income

Loading news...

Featured news

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Featured promotions

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

June 22, 2026

Market commentary 2026/06/19: Green returns

June 19, 2026

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

June 18, 2026

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

June 18, 2026

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

June 17, 2026

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

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

June 16, 2026

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

June 16, 2026

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

June 15, 2026

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

June 15, 2026

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

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

June 12, 2026

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

June 12, 2026

Market commentary: Green momentum continues

June 11, 2026

Market Analysis

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

5M26: Economic landscape turns gloomier as inflation acceleratesVietnam’s economy continued to expand in May, but the underlying picture became increasingly challenging as the Middle East conflict remained unresolved. Inflation accelerated further, with elevated energy prices gradually spilling over into a broader range of goods and services, pushing up costs across the economy. Trade activity also came under pressure, as rising freight, insurance, and energy import costs contributed to a widening trade deficit. While retail sales continued to grow, part of the increase likely reflected higher prices rather than a meaningful improvement in consumer purchasing power. The main bright spot remained FDI, with both registered and disbursed capital posting strong growth. Overall, the economy is showing clearer signs of strain from persistent geopolitical tensions, and if the Middle East crisis drags on, these pressures could intensify and pose a more meaningful challenge to Vietnam’s growth outlook in the second half of the year.PDFMacro-5M26-Eng-Final

June 3, 2026

4M26: Stable growth amid mounting inflation pressuresVietnam’s economy remained resilient in April, supported by accelerating industrial production, stable domestic consumption, and sustained FDI inflows. However, external momentum showed signs of softening, with export growth beginning to plateau as early-year order buffers fade. While overall activity continued to expand, downside risks are becoming more visible, particularly through rising inflation driven by geopolitical tensions, with rising input costs as the primary driver of broad-based price pressures across most goods, potentially constraining policy flexibility and posing risks to Vietnam’s growth targets.PDFMacro-4M26-Eng-Final

May 4, 2026

3M26: Growth moderated while geopolitical wounds begin to festerVietnam’s economic performance in March and the first quarter showed solid momentum. Trade and industrial production remained resilient, while consumption stayed robust, supported by record tourist arrivals. FDI inflows were a key highlight, recording impressive growth. GDP expanded by 7.83% in 1Q26 — marking the highest first-quarter growth in over a decade, even as the pace moderated slightly from the previous quarter, these impressive figures continue to paint a bright and promising picture so far. However, downside risks are emerging more rapidly and severely than expected. Inflation accelerated sharply in March, almost single-handedly driven by surging energy prices amid the persistent tensions in the Middle East. Should the energy crisis persist, inflationary pressures could intensify further and spill over to other goods and services. This, in turn, risks adding a somber dark shade to the bright economic canvas that has been so promisingly painted and poses challenges to Vietnam’s ambitious double-digit growth target—especially as even stronger growth will be needed in the coming quarters to sustain the current trajectory.PDFMacro-3M26-Eng-Final

April 6, 2026

2M26: Seasonal lull amid mounting geopolitical risksThe latest socio-economic report indicates that economic activity in Vietnam slowed noticeably in February, largely due to the Lunar New Year holiday. Industrial production and trade volumes softened during this period as many businesses temporarily suspended or reduced operations to accommodate family gatherings and festive preparations. Meanwhile, inflation picked up more clearly, driven by stronger consumer demand ahead of the celebrations, particularly for food, goods, and services, although these seasonal price pressures are expected to ease gradually and return to normal levels in the coming months as the holiday effects fade. Looking ahead, external risks are intensifying amid escalating tensions in the Middle East. These developments could drive commodity prices higher, primarily through supply disruptions and pass-through effects on global energy prices, thereby raising inflation risks in the period ahead. Should these pressures persist, they would pose additional challenges to the global economic outlook, with direct implications for Vietnam’s economy in the coming months.PDFMacro-2M26-Eng-Final

March 6, 2026

1M26: A positive start ahead of the Lunar New YearVietnam’s early-year economic indicators point to a constructive start. Export growth was supported by a higher number of working days compared with the same period last year, although demand remained partly shaped by Lunar New Year–related consumption patterns. Retail sales posted strong growth, underscoring resilient domestic demand and suggesting solid momentum heading into the peak holiday season. Industrial production continued to expand, while inflationary pressures remained well contained, providing a stable macroeconomic backdrop for the period ahead.

February 6, 2026

12M25: The Dawn of National RiseVietnam’s economy recorded a strong acceleration toward year-end, underpinned by the combined strength of domestic resilience and renewed momentum in external trade. Real GDP growth remained aligned with national targets, driven primarily by a robust rebound in exports, underscoring Vietnam’s sustained competitiveness despite persistent tariff-related pressures throughout the year. At the same time, record-high FDI disbursement reaffirmed the country’s attractiveness as a destination for global capital. Domestically, growth was supported by solid fundamentals, as industrial production and retail sales posted encouraging gains, while household consumption and hospitality services continued to serve as key pillars of expansion despite disruptions caused by natural disasters, with inflation remaining well contained. Overall, Vietnam closed a volatile 2025 on a resilient and well-anchored macroeconomic footing, setting the stage for the next phase of national ascent and more ambitious long-term objectives.PDFMacro-12M25-Eng-Final

January 6, 2026

11M25: Economic activity slows amid natural disastersVietnam’s economic landscape in November revealed both the destructive force of natural disasters and the resilience of the domestic economy in the face of climatic shocks. Most key indicators deteriorated, as export–import activity, FDI inflows and retail sales all reflected the tangible impact of floods and storms, while inflation accelerated sharply due to food price surges following widespread crop damage. Yet, despite these setbacks, the underlying momentum remains intact. The disruptions were largely temporary, with producer sentiment improving, tourism activity continuing to strengthen and industrial production maintaining a solid pace. As 2025 closes under the shadow of severe weather events, Vietnam’s steadfast internal fundamentals stand out as a source of stability after a turbulent year, providing grounds for optimism that clearer skies lie ahead.PDFMacro-11M25-Eng-Final

December 9, 2025

10M25: National growth target clouded by climatic disruptionsVietnam’s economic landscape entering the final quarter of 2025 is crucial, as it will determine whether the government’s ambitious growth target can be achieved. Following a robust third quarter, the economy has once again faced challenges similar to last year, with consecutive typhoons disrupting business activity. The effects of these disruptions are already beginning to show: while industrial production, trade, and retail sales still recorded growth, the pace has slowed. Meanwhile, inflation edged higher, largely driven by rising food prices in the typhoon-affected regions. The sole bright spot came from FDI, which continued to improve as earlier tariff risks have subsided. Nevertheless, as climatic disruptions persist, these shocks could raise concerns about Vietnam’s prospects of meeting its full-year objective.PDFMacro-10M25-Eng

November 6, 2025

9M25: Growth stems from low-base effectVietnam’s economic indicators in September painted a notably upbeat picture, with most metrics signaling continued improvement. Most striking was the national GDP growth rate exceeding 8 percent, an impressive milestone that reinforces the government’s confidence in achieving its annual growth target. Part of this growth can be attributed to a low base effect, as economic activity in the same period last year was heavily disrupted by Typhoon Yagi. In addition, increased state budget spending, particularly in infrastructure and public services, also contributed to the overall momentum. This recovery was further supported by domestic fundamentals. Major national holidays such as Independence Day stimulated tourism and consumer demand, driving up sales of goods, services, and food items, while also revitalizing production activity. External factors also provided support. Exports continued to expand, aided by the dissipation of front-loading distortions, and foreign investment inflows remained positive as concerns over tariffs subsided. Altogether, these developments reaffirm that domestic drivers will remain the central pillar of Vietnam’s growth going forward—a foundation that will continue to underpin the economy’s progress in subsequent stages.PDFMacro-9M25-Eng-Final

October 7, 2025

Loading news...

Featured promotions

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

June 22, 2026

Market commentary 2026/06/19: Green returns

June 19, 2026

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

June 18, 2026

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

June 18, 2026

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

June 17, 2026

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

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

June 16, 2026

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

June 16, 2026

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

June 15, 2026

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

June 15, 2026

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

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

June 12, 2026

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

June 12, 2026

Market commentary: Green momentum continues

June 11, 2026