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Featured news

Derivatives 2026/07/15: A technical rebound?

Derivatives 2026/07/15: A technical rebound?

Although a reversal signal has appeared, risks remain. Traders should therefore wait for further trend-confirmation signals before they reopen their positions.

July 15, 2026

Market commentary 2026/07/15: Afternoon demand emerged

Market commentary 2026/07/15: Afternoon demand emerged

The market posted a modest gain as bargain hunting emerged toward the end of the session. However, trading liquidity weakened, while the VNIndex remained below most of its key moving averages, suggesting that the current recovery has yet to gain convincing technical confirmation.

July 15, 2026

Derivatives 2026/07/14:  A downtrend?

Derivatives 2026/07/14: A downtrend?

The downtrend has been confirmed on rising volume. Investors may therefore consider reopening short positions.

July 14, 2026

Market commentary 2026/07/14: Broad-based selling pressure

Market commentary 2026/07/14: Broad-based selling pressure

The market recorded a sharp decline alongside a significant increase in trading liquidity, indicating that selling pressure continued to outweigh buying demand while cautious investor sentiment remained dominant. This suggests that the short-term outlook remains tilted to the downside.

July 14, 2026

Covered warrant 2026/07/14: Cash flows continued to decline

Covered warrant 2026/07/14: Cash flows continued to decline

During the week, the covered warrant market remained weak as liquidity continued to decline and the number of declining warrants still significantly outnumbered advancing ones. Meanwhile, the underlying equity market also showed cautious trading conditions, with the benchmark index falling and capital flows showing no clear signs of improvement.

July 14, 2026

Market Trader 2026/07/14: Foreign investors extended their net selling streak

Market Trader 2026/07/14: Foreign investors extended their net selling streak

By investor group, trading activity by domestic retail investors declined by 5.5% WoW. Meanwhile, domestic institutional investors turned more active, with trading value increasing 5.9% from the previous week.

July 14, 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).

July 13, 2026

Derivatives 2026/07/13: Selling pressure intensifies

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?

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

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

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

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

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

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

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?

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

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

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

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

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

Featured promotions

Derivatives 2026/07/15: A technical rebound?

Derivatives 2026/07/15: A technical rebound?

Although a reversal signal has appeared, risks remain. Traders should therefore wait for further trend-confirmation signals before they reopen their positions.

July 15, 2026

Market commentary 2026/07/15: Afternoon demand emerged

Market commentary 2026/07/15: Afternoon demand emerged

The market posted a modest gain as bargain hunting emerged toward the end of the session. However, trading liquidity weakened, while the VNIndex remained below most of its key moving averages, suggesting that the current recovery has yet to gain convincing technical confirmation.

July 15, 2026

Derivatives 2026/07/14:  A downtrend?

Derivatives 2026/07/14: A downtrend?

The downtrend has been confirmed on rising volume. Investors may therefore consider reopening short positions.

July 14, 2026

Market commentary 2026/07/14: Broad-based selling pressure

Market commentary 2026/07/14: Broad-based selling pressure

The market recorded a sharp decline alongside a significant increase in trading liquidity, indicating that selling pressure continued to outweigh buying demand while cautious investor sentiment remained dominant. This suggests that the short-term outlook remains tilted to the downside.

July 14, 2026

Covered warrant 2026/07/14: Cash flows continued to decline

Covered warrant 2026/07/14: Cash flows continued to decline

During the week, the covered warrant market remained weak as liquidity continued to decline and the number of declining warrants still significantly outnumbered advancing ones. Meanwhile, the underlying equity market also showed cautious trading conditions, with the benchmark index falling and capital flows showing no clear signs of improvement.

July 14, 2026

Market Trader 2026/07/14: Foreign investors extended their net selling streak

Market Trader 2026/07/14: Foreign investors extended their net selling streak

By investor group, trading activity by domestic retail investors declined by 5.5% WoW. Meanwhile, domestic institutional investors turned more active, with trading value increasing 5.9% from the previous week.

July 14, 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).

July 13, 2026

Derivatives 2026/07/13: Selling pressure intensifies

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?

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

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

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

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

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

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

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?

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

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

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

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

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

Featured news

Derivatives 2026/07/15: A technical rebound?

Derivatives 2026/07/15: A technical rebound?

Although a reversal signal has appeared, risks remain. Traders should therefore wait for further trend-confirmation signals before they reopen their positions.

July 15, 2026

Market commentary 2026/07/15: Afternoon demand emerged

Market commentary 2026/07/15: Afternoon demand emerged

The market posted a modest gain as bargain hunting emerged toward the end of the session. However, trading liquidity weakened, while the VNIndex remained below most of its key moving averages, suggesting that the current recovery has yet to gain convincing technical confirmation.

July 15, 2026

Derivatives 2026/07/14:  A downtrend?

Derivatives 2026/07/14: A downtrend?

The downtrend has been confirmed on rising volume. Investors may therefore consider reopening short positions.

July 14, 2026

Market commentary 2026/07/14: Broad-based selling pressure

Market commentary 2026/07/14: Broad-based selling pressure

The market recorded a sharp decline alongside a significant increase in trading liquidity, indicating that selling pressure continued to outweigh buying demand while cautious investor sentiment remained dominant. This suggests that the short-term outlook remains tilted to the downside.

July 14, 2026

Covered warrant 2026/07/14: Cash flows continued to decline

Covered warrant 2026/07/14: Cash flows continued to decline

During the week, the covered warrant market remained weak as liquidity continued to decline and the number of declining warrants still significantly outnumbered advancing ones. Meanwhile, the underlying equity market also showed cautious trading conditions, with the benchmark index falling and capital flows showing no clear signs of improvement.

July 14, 2026

Market Trader 2026/07/14: Foreign investors extended their net selling streak

Market Trader 2026/07/14: Foreign investors extended their net selling streak

By investor group, trading activity by domestic retail investors declined by 5.5% WoW. Meanwhile, domestic institutional investors turned more active, with trading value increasing 5.9% from the previous week.

July 14, 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).

July 13, 2026

Derivatives 2026/07/13: Selling pressure intensifies

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?

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

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

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

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

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

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

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?

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

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

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

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

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

Featured promotions

Derivatives 2026/07/15: A technical rebound?

Derivatives 2026/07/15: A technical rebound?

Although a reversal signal has appeared, risks remain. Traders should therefore wait for further trend-confirmation signals before they reopen their positions.

July 15, 2026

Market commentary 2026/07/15: Afternoon demand emerged

Market commentary 2026/07/15: Afternoon demand emerged

The market posted a modest gain as bargain hunting emerged toward the end of the session. However, trading liquidity weakened, while the VNIndex remained below most of its key moving averages, suggesting that the current recovery has yet to gain convincing technical confirmation.

July 15, 2026

Derivatives 2026/07/14:  A downtrend?

Derivatives 2026/07/14: A downtrend?

The downtrend has been confirmed on rising volume. Investors may therefore consider reopening short positions.

July 14, 2026

Market commentary 2026/07/14: Broad-based selling pressure

Market commentary 2026/07/14: Broad-based selling pressure

The market recorded a sharp decline alongside a significant increase in trading liquidity, indicating that selling pressure continued to outweigh buying demand while cautious investor sentiment remained dominant. This suggests that the short-term outlook remains tilted to the downside.

July 14, 2026

Covered warrant 2026/07/14: Cash flows continued to decline

Covered warrant 2026/07/14: Cash flows continued to decline

During the week, the covered warrant market remained weak as liquidity continued to decline and the number of declining warrants still significantly outnumbered advancing ones. Meanwhile, the underlying equity market also showed cautious trading conditions, with the benchmark index falling and capital flows showing no clear signs of improvement.

July 14, 2026

Market Trader 2026/07/14: Foreign investors extended their net selling streak

Market Trader 2026/07/14: Foreign investors extended their net selling streak

By investor group, trading activity by domestic retail investors declined by 5.5% WoW. Meanwhile, domestic institutional investors turned more active, with trading value increasing 5.9% from the previous week.

July 14, 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).

July 13, 2026

Derivatives 2026/07/13: Selling pressure intensifies

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?

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

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

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

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

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

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

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?

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

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

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

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

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

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July 2026: Bond Issuance and Repurchase Value in July Fall
July 2026: Bond Issuance and Repurchase Value in July FallIn July, total value of bond issuance declined 80% mom and -42% yoy reached to VND26,295bn (Fig. 1). The Banking issued VND20,656bn with -63% yoy, and accounted for 78%. Major issuer was HDBank (VND7,106bn, Table 1) and Sacombank (VND3,650bn). The Real Estates issued VND3,000 with +173% yoy, -95% mom and accounting for 11.4%, held the second place of total issuance (Fig. 2). VHM was the main issuer with VND3,000bn. The average coupon rate still remained 5.3% in Jul 2026 (Fig. 3). The Real Estate coupon rate hiked to 12.5%, while the banking coupon rate edged up to 9.0%. Bond tenors were focus on 5 – 7 Years tenor (46.66%) (Fig 4). PDFCbond 07-26_Eng_v1.1
August 11, 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
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
Apr 2026: Medium issuances led by Real Estate and Bank industries
Apr 2026: Medium issuances led by Real Estate and Bank industriesIn April, total value of bond issuance declined 20.1% yoy but rose 12.1% mom to VND38,235bn. The Real Estate issued VND13,776bn, -42.1% mom, and accounted for 36.0%. Major issuer was MADC (VND6,200bn) and VHM (VND6,000bn). The Banking issued VND15,100bn with -53.1% yoy, +153.3% mom and accounting for 39.5% of total issuance. TCB was the main issuer with VND6,000bn. The average coupon rate remained 5.3% in April 2026. The Real Estate coupon rate surged to 11.3%, while the banking coupon rate fell to 8.5%. Bond tenors focused on ≤ 3 Years (92.6%).PDFCbond-04-26_Eng
May 6, 2026