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Derivatives 2026/07/13: Selling pressure intensifies
Investors should continue to monitor the market for clearer confirmation of the short-term trend, and consider reopening positions only when a safe reversal signal appears.July 13, 2026
Chart of the day 2026/07/13: A sell signal?
Additional signals should be observed to confirm the next trend, as liquidity remains low. Until then, investors should keep their equity exposure at a safe level.July 13, 2026
Market commentary 2026/07/13: Stepped back
The market continued to retreat while liquidity remained subdued, indicating that capital inflows are still cautious and buying demand has yet to gain sufficient strength to improve the market trend. In addition, the VNIndex closed below most of its key moving averages, suggesting that the technical outlook remains weak and increasing the risk of further short-term corrections.July 13, 2026
![Steel - In-depth - [LESS POSITIVE] - Challenges](/_next/image?url=https%3A%2F%2Fdms2stj3pztto.cloudfront.net%2Fwt1baa1h%2Fsteel-2.jpg%3Fformat%3Dwebp%26height%3D608%26mode%3Dcrop%26quality%3D80%26width%3D1080&w=3840&q=75)
Steel - In-depth - [LESS POSITIVE] - Challenges
Overall sector: For 2H2026F, we forecast total steel sales volume in Vietnam to grow by -3.3% yoy. Domestic market: Forecasted at -5.6% yoy. We anticipate that rising interest rates will dampen demand in the residential construction sector, which typically accounts for 60-70% of domestic steel consumption. Exports: In 2H2026F, we project total steel exports from Vietnam to achieve growth of +1.0-2.0% yoy.July 13, 2026
Derivatives 2026/07/10: Accumulation
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 10, 2026
Market commentary 2026/07/10: Lost the MA20
The market retreated while liquidity remained subdued, indicating that capital inflows have yet to show meaningful improvement. In addition, the VNIndex closed below its 20-day moving average (MA20), suggesting that short-term momentum is weakening and the market may need more time to regain balance.July 10, 2026
27W26: SBV maintains net injection while diverging interbank rates
In 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.July 9, 2026
Market commentary 2026/07/09: Continued gains
The market posted its second consecutive gaining session, accompanied by a modest improvement in liquidity. The index continued to hold above its 20-day moving average (MA20), indicating that this level remains an effective short-term support. However, the VNIndex has yet to close above both the 10-day (MA10) and 50-day (MA50) moving averages, suggesting that buying momentum is still not strong enough to confirm a meaningful improvement in the short-term trend.July 9, 2026
Derivatives 2026/07/09: Has Capital Flow Returned?
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 9, 2026
ETF review: MCH and TCX added to the VN30Index
In the 3Q26 review of the VN30Index, we expect PLX and TPB to be removed from the index's constituent list, as their market capitalization no longer ranks among the 30 eligible stocks. In their place, MCH and TCX will be added.July 9, 2026
Market commentary 2026/07/08: Market recovery
The market rebounded in the latest session, although liquidity declined noticeably, suggesting that cash flow has yet to fully support the current upward momentum. This indicates that the ongoing recovery still requires further confirmation in the coming sessions.July 8, 2026
Derivatives 2026/07/08: Capital support at lower price levels
Positive signals have emerged as capital continued to provide support at lower price levels; however, these signals remain inconsistent. Traders should therefore stay cautious and wait for further confirmation before opening new positions.July 8, 2026
Market commentary 2026/07/07: Market reversal
The market posted a sharp decline accompanied by higher trading liquidity. In addition, the VNIndex fell below both the 10-day and 50-day moving averages, signaling a deterioration in short-term technical momentum. This suggests that market volatility and downside pressure may persist in the coming sessions.July 7, 2026
Derivatives 2026/07/07: Improved liquidity
Selling pressure has emerged in the short term, which implies a possible reversal. Therefore, traders should remain cautious and wait for further signals before opening new positions.July 7, 2026
Covered warrant 2026/07/07: Cautious sentiment
The covered warrant market remained cautious during the week as liquidity declined and declining warrants continued to outnumber advancing ones. This trend was consistent with the underlying equity market, where trading liquidity also stayed subdued, indicating that capital inflows have yet to recover meaningfully and investor sentiment remains cautious.July 7, 2026
Market Trader 2026/07/07: Proprietary increased net buying
By investor group, both domestic retail and domestic institutional investors recorded lower trading activity, declining by 8.6% and 4.5% WoW, respectively.July 7, 2026
Strategic Insight - 07/2026: Attractive valuation, awaiting the upgrade
We believe the market's long-term growth potential remains considerable, as the economy continues to sustain its recovery momentum in the face of external pressures. In addition, market valuations remain attractive, with more than 70% of stocks currently undervalued.July 7, 2026
Chart of the day 2026/07/06: Accumulation phase
An accumulation phase has emerged but does not affect the short-term uptrend. Therefore, investors should maintain their current equity allocation within their portfolios.July 6, 2026
Market commentary 2026/07/06: Selling pressure persisted
In the near term, the index is likely to remain range-bound as buying and selling forces continue to offset each other. Meanwhile, liquidity remains subdued, indicating that capital inflows have yet to improve meaningfully. As a result, the market is likely to remain in a consolidation phase before establishing a clearer trend.July 6, 2026
Derivatives 2026/07/06: Awaiting the next signal
The uptrend remains confirmed over the short term, supported by improved liquidity. However, traders should wait for a confirmation signal before reopening Long positions, as caution in investor sentiment persisted through the final session of last week.July 6, 2026
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Derivatives 2026/07/13: Selling pressure intensifies
Investors should continue to monitor the market for clearer confirmation of the short-term trend, and consider reopening positions only when a safe reversal signal appears.July 13, 2026
Chart of the day 2026/07/13: A sell signal?
Additional signals should be observed to confirm the next trend, as liquidity remains low. Until then, investors should keep their equity exposure at a safe level.July 13, 2026
Market commentary 2026/07/13: Stepped back
The market continued to retreat while liquidity remained subdued, indicating that capital inflows are still cautious and buying demand has yet to gain sufficient strength to improve the market trend. In addition, the VNIndex closed below most of its key moving averages, suggesting that the technical outlook remains weak and increasing the risk of further short-term corrections.July 13, 2026
Steel - In-depth - [LESS POSITIVE] - Challenges
Overall sector: For 2H2026F, we forecast total steel sales volume in Vietnam to grow by -3.3% yoy. Domestic market: Forecasted at -5.6% yoy. We anticipate that rising interest rates will dampen demand in the residential construction sector, which typically accounts for 60-70% of domestic steel consumption. Exports: In 2H2026F, we project total steel exports from Vietnam to achieve growth of +1.0-2.0% yoy.July 13, 2026
Derivatives 2026/07/10: Accumulation
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 10, 2026
Market commentary 2026/07/10: Lost the MA20
The market retreated while liquidity remained subdued, indicating that capital inflows have yet to show meaningful improvement. In addition, the VNIndex closed below its 20-day moving average (MA20), suggesting that short-term momentum is weakening and the market may need more time to regain balance.July 10, 2026
27W26: SBV maintains net injection while diverging interbank rates
In 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.July 9, 2026
Market commentary 2026/07/09: Continued gains
The market posted its second consecutive gaining session, accompanied by a modest improvement in liquidity. The index continued to hold above its 20-day moving average (MA20), indicating that this level remains an effective short-term support. However, the VNIndex has yet to close above both the 10-day (MA10) and 50-day (MA50) moving averages, suggesting that buying momentum is still not strong enough to confirm a meaningful improvement in the short-term trend.July 9, 2026
Derivatives 2026/07/09: Has Capital Flow Returned?
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 9, 2026
ETF review: MCH and TCX added to the VN30Index
In the 3Q26 review of the VN30Index, we expect PLX and TPB to be removed from the index's constituent list, as their market capitalization no longer ranks among the 30 eligible stocks. In their place, MCH and TCX will be added.July 9, 2026
Market commentary 2026/07/08: Market recovery
The market rebounded in the latest session, although liquidity declined noticeably, suggesting that cash flow has yet to fully support the current upward momentum. This indicates that the ongoing recovery still requires further confirmation in the coming sessions.July 8, 2026
Derivatives 2026/07/08: Capital support at lower price levels
Positive signals have emerged as capital continued to provide support at lower price levels; however, these signals remain inconsistent. Traders should therefore stay cautious and wait for further confirmation before opening new positions.July 8, 2026
Market commentary 2026/07/07: Market reversal
The market posted a sharp decline accompanied by higher trading liquidity. In addition, the VNIndex fell below both the 10-day and 50-day moving averages, signaling a deterioration in short-term technical momentum. This suggests that market volatility and downside pressure may persist in the coming sessions.July 7, 2026
Derivatives 2026/07/07: Improved liquidity
Selling pressure has emerged in the short term, which implies a possible reversal. Therefore, traders should remain cautious and wait for further signals before opening new positions.July 7, 2026
Covered warrant 2026/07/07: Cautious sentiment
The covered warrant market remained cautious during the week as liquidity declined and declining warrants continued to outnumber advancing ones. This trend was consistent with the underlying equity market, where trading liquidity also stayed subdued, indicating that capital inflows have yet to recover meaningfully and investor sentiment remains cautious.July 7, 2026
Market Trader 2026/07/07: Proprietary increased net buying
By investor group, both domestic retail and domestic institutional investors recorded lower trading activity, declining by 8.6% and 4.5% WoW, respectively.July 7, 2026
Strategic Insight - 07/2026: Attractive valuation, awaiting the upgrade
We believe the market's long-term growth potential remains considerable, as the economy continues to sustain its recovery momentum in the face of external pressures. In addition, market valuations remain attractive, with more than 70% of stocks currently undervalued.July 7, 2026
Chart of the day 2026/07/06: Accumulation phase
An accumulation phase has emerged but does not affect the short-term uptrend. Therefore, investors should maintain their current equity allocation within their portfolios.July 6, 2026
Market commentary 2026/07/06: Selling pressure persisted
In the near term, the index is likely to remain range-bound as buying and selling forces continue to offset each other. Meanwhile, liquidity remains subdued, indicating that capital inflows have yet to improve meaningfully. As a result, the market is likely to remain in a consolidation phase before establishing a clearer trend.July 6, 2026
Derivatives 2026/07/06: Awaiting the next signal
The uptrend remains confirmed over the short term, supported by improved liquidity. However, traders should wait for a confirmation signal before reopening Long positions, as caution in investor sentiment persisted through the final session of last week.July 6, 2026
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Derivatives 2026/07/13: Selling pressure intensifies
Investors should continue to monitor the market for clearer confirmation of the short-term trend, and consider reopening positions only when a safe reversal signal appears.July 13, 2026
Chart of the day 2026/07/13: A sell signal?
Additional signals should be observed to confirm the next trend, as liquidity remains low. Until then, investors should keep their equity exposure at a safe level.July 13, 2026
Market commentary 2026/07/13: Stepped back
The market continued to retreat while liquidity remained subdued, indicating that capital inflows are still cautious and buying demand has yet to gain sufficient strength to improve the market trend. In addition, the VNIndex closed below most of its key moving averages, suggesting that the technical outlook remains weak and increasing the risk of further short-term corrections.July 13, 2026
Steel - In-depth - [LESS POSITIVE] - Challenges
Overall sector: For 2H2026F, we forecast total steel sales volume in Vietnam to grow by -3.3% yoy. Domestic market: Forecasted at -5.6% yoy. We anticipate that rising interest rates will dampen demand in the residential construction sector, which typically accounts for 60-70% of domestic steel consumption. Exports: In 2H2026F, we project total steel exports from Vietnam to achieve growth of +1.0-2.0% yoy.July 13, 2026
Derivatives 2026/07/10: Accumulation
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 10, 2026
Market commentary 2026/07/10: Lost the MA20
The market retreated while liquidity remained subdued, indicating that capital inflows have yet to show meaningful improvement. In addition, the VNIndex closed below its 20-day moving average (MA20), suggesting that short-term momentum is weakening and the market may need more time to regain balance.July 10, 2026
27W26: SBV maintains net injection while diverging interbank rates
In 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.July 9, 2026
Market commentary 2026/07/09: Continued gains
The market posted its second consecutive gaining session, accompanied by a modest improvement in liquidity. The index continued to hold above its 20-day moving average (MA20), indicating that this level remains an effective short-term support. However, the VNIndex has yet to close above both the 10-day (MA10) and 50-day (MA50) moving averages, suggesting that buying momentum is still not strong enough to confirm a meaningful improvement in the short-term trend.July 9, 2026
Derivatives 2026/07/09: Has Capital Flow Returned?
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 9, 2026
ETF review: MCH and TCX added to the VN30Index
In the 3Q26 review of the VN30Index, we expect PLX and TPB to be removed from the index's constituent list, as their market capitalization no longer ranks among the 30 eligible stocks. In their place, MCH and TCX will be added.July 9, 2026
Market commentary 2026/07/08: Market recovery
The market rebounded in the latest session, although liquidity declined noticeably, suggesting that cash flow has yet to fully support the current upward momentum. This indicates that the ongoing recovery still requires further confirmation in the coming sessions.July 8, 2026
Derivatives 2026/07/08: Capital support at lower price levels
Positive signals have emerged as capital continued to provide support at lower price levels; however, these signals remain inconsistent. Traders should therefore stay cautious and wait for further confirmation before opening new positions.July 8, 2026
Market commentary 2026/07/07: Market reversal
The market posted a sharp decline accompanied by higher trading liquidity. In addition, the VNIndex fell below both the 10-day and 50-day moving averages, signaling a deterioration in short-term technical momentum. This suggests that market volatility and downside pressure may persist in the coming sessions.July 7, 2026
Derivatives 2026/07/07: Improved liquidity
Selling pressure has emerged in the short term, which implies a possible reversal. Therefore, traders should remain cautious and wait for further signals before opening new positions.July 7, 2026
Covered warrant 2026/07/07: Cautious sentiment
The covered warrant market remained cautious during the week as liquidity declined and declining warrants continued to outnumber advancing ones. This trend was consistent with the underlying equity market, where trading liquidity also stayed subdued, indicating that capital inflows have yet to recover meaningfully and investor sentiment remains cautious.July 7, 2026
Market Trader 2026/07/07: Proprietary increased net buying
By investor group, both domestic retail and domestic institutional investors recorded lower trading activity, declining by 8.6% and 4.5% WoW, respectively.July 7, 2026
Strategic Insight - 07/2026: Attractive valuation, awaiting the upgrade
We believe the market's long-term growth potential remains considerable, as the economy continues to sustain its recovery momentum in the face of external pressures. In addition, market valuations remain attractive, with more than 70% of stocks currently undervalued.July 7, 2026
Chart of the day 2026/07/06: Accumulation phase
An accumulation phase has emerged but does not affect the short-term uptrend. Therefore, investors should maintain their current equity allocation within their portfolios.July 6, 2026
Market commentary 2026/07/06: Selling pressure persisted
In the near term, the index is likely to remain range-bound as buying and selling forces continue to offset each other. Meanwhile, liquidity remains subdued, indicating that capital inflows have yet to improve meaningfully. As a result, the market is likely to remain in a consolidation phase before establishing a clearer trend.July 6, 2026
Derivatives 2026/07/06: Awaiting the next signal
The uptrend remains confirmed over the short term, supported by improved liquidity. However, traders should wait for a confirmation signal before reopening Long positions, as caution in investor sentiment persisted through the final session of last week.July 6, 2026
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Derivatives 2026/07/13: Selling pressure intensifies
Investors should continue to monitor the market for clearer confirmation of the short-term trend, and consider reopening positions only when a safe reversal signal appears.July 13, 2026
Chart of the day 2026/07/13: A sell signal?
Additional signals should be observed to confirm the next trend, as liquidity remains low. Until then, investors should keep their equity exposure at a safe level.July 13, 2026
Market commentary 2026/07/13: Stepped back
The market continued to retreat while liquidity remained subdued, indicating that capital inflows are still cautious and buying demand has yet to gain sufficient strength to improve the market trend. In addition, the VNIndex closed below most of its key moving averages, suggesting that the technical outlook remains weak and increasing the risk of further short-term corrections.July 13, 2026
Steel - In-depth - [LESS POSITIVE] - Challenges
Overall sector: For 2H2026F, we forecast total steel sales volume in Vietnam to grow by -3.3% yoy. Domestic market: Forecasted at -5.6% yoy. We anticipate that rising interest rates will dampen demand in the residential construction sector, which typically accounts for 60-70% of domestic steel consumption. Exports: In 2H2026F, we project total steel exports from Vietnam to achieve growth of +1.0-2.0% yoy.July 13, 2026
Derivatives 2026/07/10: Accumulation
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 10, 2026
Market commentary 2026/07/10: Lost the MA20
The market retreated while liquidity remained subdued, indicating that capital inflows have yet to show meaningful improvement. In addition, the VNIndex closed below its 20-day moving average (MA20), suggesting that short-term momentum is weakening and the market may need more time to regain balance.July 10, 2026
27W26: SBV maintains net injection while diverging interbank rates
In 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.July 9, 2026
Market commentary 2026/07/09: Continued gains
The market posted its second consecutive gaining session, accompanied by a modest improvement in liquidity. The index continued to hold above its 20-day moving average (MA20), indicating that this level remains an effective short-term support. However, the VNIndex has yet to close above both the 10-day (MA10) and 50-day (MA50) moving averages, suggesting that buying momentum is still not strong enough to confirm a meaningful improvement in the short-term trend.July 9, 2026
Derivatives 2026/07/09: Has Capital Flow Returned?
Positive signals have emerged, as capital flow continues to provide support at lower price levels; however, these signals lack consistency. Traders should therefore remain cautious and wait for further confirmation before opening new positions.July 9, 2026
ETF review: MCH and TCX added to the VN30Index
In the 3Q26 review of the VN30Index, we expect PLX and TPB to be removed from the index's constituent list, as their market capitalization no longer ranks among the 30 eligible stocks. In their place, MCH and TCX will be added.July 9, 2026
Market commentary 2026/07/08: Market recovery
The market rebounded in the latest session, although liquidity declined noticeably, suggesting that cash flow has yet to fully support the current upward momentum. This indicates that the ongoing recovery still requires further confirmation in the coming sessions.July 8, 2026
Derivatives 2026/07/08: Capital support at lower price levels
Positive signals have emerged as capital continued to provide support at lower price levels; however, these signals remain inconsistent. Traders should therefore stay cautious and wait for further confirmation before opening new positions.July 8, 2026
Market commentary 2026/07/07: Market reversal
The market posted a sharp decline accompanied by higher trading liquidity. In addition, the VNIndex fell below both the 10-day and 50-day moving averages, signaling a deterioration in short-term technical momentum. This suggests that market volatility and downside pressure may persist in the coming sessions.July 7, 2026
Derivatives 2026/07/07: Improved liquidity
Selling pressure has emerged in the short term, which implies a possible reversal. Therefore, traders should remain cautious and wait for further signals before opening new positions.July 7, 2026
Covered warrant 2026/07/07: Cautious sentiment
The covered warrant market remained cautious during the week as liquidity declined and declining warrants continued to outnumber advancing ones. This trend was consistent with the underlying equity market, where trading liquidity also stayed subdued, indicating that capital inflows have yet to recover meaningfully and investor sentiment remains cautious.July 7, 2026
Market Trader 2026/07/07: Proprietary increased net buying
By investor group, both domestic retail and domestic institutional investors recorded lower trading activity, declining by 8.6% and 4.5% WoW, respectively.July 7, 2026
Strategic Insight - 07/2026: Attractive valuation, awaiting the upgrade
We believe the market's long-term growth potential remains considerable, as the economy continues to sustain its recovery momentum in the face of external pressures. In addition, market valuations remain attractive, with more than 70% of stocks currently undervalued.July 7, 2026
Chart of the day 2026/07/06: Accumulation phase
An accumulation phase has emerged but does not affect the short-term uptrend. Therefore, investors should maintain their current equity allocation within their portfolios.July 6, 2026
Market commentary 2026/07/06: Selling pressure persisted
In the near term, the index is likely to remain range-bound as buying and selling forces continue to offset each other. Meanwhile, liquidity remains subdued, indicating that capital inflows have yet to improve meaningfully. As a result, the market is likely to remain in a consolidation phase before establishing a clearer trend.July 6, 2026
Derivatives 2026/07/06: Awaiting the next signal
The uptrend remains confirmed over the short term, supported by improved liquidity. However, traders should wait for a confirmation signal before reopening Long positions, as caution in investor sentiment persisted through the final session of last week.July 6, 2026