Individual
Institutional
Investment
icon cupKIS Challenge - SEASON 5|
About KIS
Support
|
Header Banner
Login WTSOpen Account
LogoCông ty Cổ phần Chứng khoán KIS Việt Nam
Follow us
Individual Clients
Securities services
Institutional
Institutional client brokerageCorporate RelationshipFinancial SupportETF
Investment Banking
Debt Capital MarketsEquity Capital MarketsFinancial Support
Head Office Icon
Head Office:3rd Floor & 11th Floor, ROX Building, 180-192 Nguyen Cong Tru Street, Ho Chi Minh City
Hotline Icon
Customer Center:(84-28) 3914-8585
Email Icon
Email:cskh@kisvn.com
Copyright @ KIS Viet Nam - 2026
Market Analysis
union
All
Macro
Macro Insight
Fixed Income
Corporate Bond
Market & Strategy
Market Comment
Strategy
Sectors & Corporates
Sector Insight
Company Insight
Loading news...

Featured news

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

Derivatives: Awaiting new confirmation

Derivatives: Awaiting new confirmation

Signals remain mixed. Investors should wait for clearer trend confirmation before opening new positions.

June 11, 2026

PVD – Earnings Review – [HOLD] – 1Q26: Solid NPAT growth on robust E&P

PVD – Earnings Review – [HOLD] – 1Q26: Solid NPAT growth on robust E&P

PVD’s 1Q26 revenue reached VND3,401bn (+126% yoy, ~110% of KIS forecast). Gross profit recorded strong growth at VND638bn (+136% yoy, ~94% of KIS forecast). 1Q26 NPAT reached VND300bn (+110% yoy), below our expectations but still at a strong level.

June 11, 2026

May 2026: The banking sector emerged as the leading issuer

May 2026: The banking sector emerged as the leading issuer

In 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).

June 10, 2026

Featured promotions

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

Derivatives: Awaiting new confirmation

Derivatives: Awaiting new confirmation

Signals remain mixed. Investors should wait for clearer trend confirmation before opening new positions.

June 11, 2026

PVD – Earnings Review – [HOLD] – 1Q26: Solid NPAT growth on robust E&P

PVD – Earnings Review – [HOLD] – 1Q26: Solid NPAT growth on robust E&P

PVD’s 1Q26 revenue reached VND3,401bn (+126% yoy, ~110% of KIS forecast). Gross profit recorded strong growth at VND638bn (+136% yoy, ~94% of KIS forecast). 1Q26 NPAT reached VND300bn (+110% yoy), below our expectations but still at a strong level.

June 11, 2026

May 2026: The banking sector emerged as the leading issuer

May 2026: The banking sector emerged as the leading issuer

In 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).

June 10, 2026

Market commentary 2026/07/22: Selling pressure persists
Market commentary 2026/07/22: Selling pressure persistsThe market recorded its third consecutive losing session, indicating that buying demand remains insufficient to improve overall market performance. In addition, the short-term trend remains negative, suggesting that the market may continue to experience volatility in the coming sessions.PDFBai Daily ngay_En_20260722
July 22, 2026
Derivatives 2026/07/22: Selling pressure at high price levels
Derivatives 2026/07/22: Selling pressure at high price levelsThe contract confirmed a short-term downward trend. Therefore, traders may reopen Short positions in the coming sessions.PDFDerivative daily_En_20260722
July 22, 2026
ETF review: Local ETFs buy GMD and MCH the most
ETF review: Local ETFs buy GMD and MCH the mostHoSE announced the new constituents of the VN30 Index and VNFIN LEAD Index in 3Q26. Accordingly, the VN30 Index will remove PLX and TPB and add MCH and TCX. Additionally, the VNFIN LEAD will include VCK and TCX and remove LPB. In this quarterly review, the VNDiamond Index rebalances its weights according to the new free-float rate, shares outstanding, and price. The new weights will be effective on 3 Aug 2026. Based on data as of 20 Jul 2026, we expect local ETFs to buy GMD, MCH, and HDB the most, with volumes of 3.5 million shares, 2.5 million shares, and 2.2 million shares, respectively. On the sell side, TPB, TCB, and PNJ are expected to be heavily sold, with 7.5 million shares, 6.1 million shares, and 6.1 million shares, respectively. PDFVN30_Index_ETF_En_POST_202607
July 22, 2026
Market commentary 2026/07/21: Heavy selling pressure
Market commentary 2026/07/21: Heavy selling pressureThe market posted a sharp decline accompanied by higher trading liquidity, reflecting intensifying selling pressure and short-term distribution signals. This suggests that downside risks remain elevated, and the market may need more time to establish a solid base before forming a new trend.PDFBai Daily ngay_En_20260721
July 21, 2026
Derivatives 2026/07/21: A new low
Derivatives 2026/07/21: A new lowThe contract confirmed a short-term downtrend. Investors may therefore reopen short positions in the coming sessions.PDFDerivative daily_En_20260721
July 21, 2026
Covered warrant 2026/07/21: Cautious sentiment
Covered warrant 2026/07/21: Cautious sentimentDuring the week, the covered warrant market recorded a modest improvement in liquidity. However, declining covered warrants continued to outnumber advancing ones as the underlying equity market remained under pressure and has yet to show clear signs of recovery, reflecting that cautious investor sentiment continues to dominate trading activity.PDFStrategy CW weekly_En_20260721
July 21, 2026
Market Trader 2026/07/21: Proprietary trading continues net selling trend
Market Trader 2026/07/21: Proprietary trading continues net selling trendBy investor group, trading activity by domestic individual investors declined by 9.9% WoW. Meanwhile, domestic institutional investors remained largely stable, recording a modest 0.7% increase during the week.PDFStrategy Market Traders weekly_EN_20260721
July 21, 2026
Banking - In-depth - [NEUTRAL] - Focus will win
Banking - In-depth - [NEUTRAL] - Focus will winBanking Sector Profit Outlook 2026-2027: Profit growth in 1H26 recorded moderate growth. In 2H26, profit growth could maintain double-digit levels. For 2026F, while double-digit growth remains intact, the pace is expected to fall slightly short of the bank's 16% guidance, before maintaining its solid double-digit momentum into 2027F. Attractive Valuation: Current P/B at 1.52x is lower than the 5-year historical P/B at 1.7x, attractive for long-term investment accumulation PDFBanking - In-depth - [NEUTRAL] - FOCUS WILL WIN F2
July 21, 2026
Industrial Park - In-depth - [NEUTRAL] - Atmosphere of caution
Industrial Park - In-depth - [NEUTRAL] - Atmosphere of cautionDriven by restricted near-term supply, escalating construction costs, and stricter environmental/technical development standards for new industrial zones, average IP asking rents will maintain their upward trajectory. For 2026F, average rental rates are projected to expand by 5% yoy in the Northern region and 4% yoy in the Southern region, supporting stable gross margins for well-positioned developersPDFIP - Indepth - [NEUTRAL] - 2H26F Outlook Atmosphere of caution​
July 21, 2026
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
...