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Tin tức nổi bật

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.

15 tháng 7, 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.

15 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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).

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

10 tháng 7, 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.

10 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

8 tháng 7, 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.

8 tháng 7, 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.

7 tháng 7, 2026

Ưu đãi nổi bật

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.

15 tháng 7, 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.

15 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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).

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

10 tháng 7, 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.

10 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

8 tháng 7, 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.

8 tháng 7, 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.

7 tháng 7, 2026

Tin tức nổi bật

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.

15 tháng 7, 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.

15 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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).

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

10 tháng 7, 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.

10 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

8 tháng 7, 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.

8 tháng 7, 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.

7 tháng 7, 2026

Ưu đãi nổi bật

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.

15 tháng 7, 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.

15 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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.

14 tháng 7, 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).

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

13 tháng 7, 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.

10 tháng 7, 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.

10 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

9 tháng 7, 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.

8 tháng 7, 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.

8 tháng 7, 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.

7 tháng 7, 2026

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PVD – Báo cáo cập nhật – [NẮM GIỮ] – 2Q26: LNST giảm, trái với kỳ vọng
PVD – Báo cáo cập nhật – [NẮM GIỮ] – 2Q26: LNST giảm, trái với kỳ vọngPVD ghi nhận doanh thu 2Q26 đạt 3,028 tỷ đồng (+24% n/n, ~73% dự phóng KIS). LN gộp tăng nhẹ 5% n/n lên 544 tỷ đồng (~53% dự phóng KIS). LNST 2Q26 giảm xuống 178 tỷ đồng (-29% n/n, -41% q/q), thấp hơn đáng kể so với kỳ vọng của chúng tôi.PDFPVD – Báo cáo cập nhật – [NẮM GIỮ] – 2Q26_LNST giảm, trái với kỳ vọng
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GMD – Tin Vắn – [KHÔNG XẾP HẠNG] – Gemalink và lãi thoái vốn thúc đẩy KQKD 2Q26
GMD – Tin Vắn – [KHÔNG XẾP HẠNG] – Gemalink và lãi thoái vốn thúc đẩy KQKD 2Q26Trong 2Q26, GMD ghi nhận doanh thu ròng 1,762 tỷ đồng (+18% n/n). LNG tăng 35% n/n lên 871 tỷ đồng, và Biên LNG mở rộng lên 49.4%. Lãi từ công ty liên kết trong 2Q26 tăng vọt lên 382 tỷ đồng (+58% n/n), trong đó cảng Gemalink (GML) đóng góp ~299 tỷ đồng. LNST đạt 1,285 tỷ đồng (+98% q/q, +121% n/n)PDFGMD - Tin vắn - [Không xếp hạng] - Gemalink và lãi thoái vốn thúc đẩy KQKD 2Q26
10 tháng 8, 2026
POW – Báo cáo cập nhật – [NẮM GIỮ] – 2Q26: Biên LNG mở rộng, lợi nhuận bùng nổ
POW – Báo cáo cập nhật – [NẮM GIỮ] – 2Q26: Biên LNG mở rộng, lợi nhuận bùng nổTrong 2Q26, doanh thu và LNG ghi nhận đạt 20,308 tỷ đồng (+116% n/n) và 4,721 tỷ đồng (+309% n/n), tương ứng biên LNG cải thiện lên 23.2% (+10.8 đpt n/n). Tổng sản lượng điện tăng 53% n/n, chủ yếu được dẫn dắt bởi mảng điện khíPDFPOW-Báo cáo cập nhật [NẮM GIỮ] - 2Q26 - Biên LNG mở rộng, lợi nhuận bùng nổ
6 tháng 8, 2026
HPG – Tin Vắn – [KHÔNG XẾP HẠNG] – Tiếp tục đà tăng trưởng
HPG – Tin Vắn – [KHÔNG XẾP HẠNG] – Tiếp tục đà tăng trưởngBáo cáo tài chính hợp nhất 2Q26 của Hòa Phát ghi nhận doanh thu và lợi nhuận gộp lần lượt đạt 55.2 nghìn tỷ đồng (+54% n/n) và 10.48 nghìn tỷ đồng (+59% n/n). LNST ghi nhận 6,424 tỷ đồng, +50.6% n/n.PDFHPG - 2Q26 - Tin vắn - Tiếp tục đà tăng trưởng
5 tháng 8, 2026
VCB – Báo cáo cập nhật  – [MUA] – Duy trì đà phục hồi
VCB – Báo cáo cập nhật – [MUA] – Duy trì đà phục hồiLNTT và LNST Q2/2026 tăng mạnh +57.9% n/n và +64.7% n/n, lần lượt đạt 17,420 tỷ đồng và 14,551 tỷ đồng, nhờ thu nhập hoạt động tổng thể tăng trưởng tích cực và chi phí dự phòng giảm. Kết quả này vượt kỳ vọng, hoàn thành 127% dự báo của KIS. LNTT và LNST nửa đầu năm lần lượt đạt 29,222 tỷ đồng (+33% n/n) và 24,013 tỷ đồng (+37% n/n), hoàn thành 63% kế hoạch cả năm 2026.PDFVCB - Báo cáo cập nhật - [MUA]- Duy trì đà phục hồi
4 tháng 8, 2026
GAS – Báo cáo cập nhật – [NẮM GIỮ] – Lợi nhuận 2Q26 tăng trưởng cao hơn kỳ vọng
GAS – Báo cáo cập nhật – [NẮM GIỮ] – Lợi nhuận 2Q26 tăng trưởng cao hơn kỳ vọngDoanh thu 2Q26 ghi nhận 43 nghìn tỷ đồng (+44% n/n, +14% q/q, ~100% dự phóng KIS) nhờ (1) giá bán LNG/LPG và khí thiên nhiên nhiên nội địa tăng mạnh do xung đột và (2) GAS ghi nhận doanh thu bán khí từ hệ thống PM3 sau khi nhận chuyển giao từ PVN. LNST cốt lõi đạt 5.5 nghìn tỷ đồng (+74% n/n, +84% q/q, ~120% dự phóng KIS). PDFGAS – Báo cáo cập nhật – [NẮM GIỮ] – Lợi nhuận 2Q26 tăng trưởng cao hơn kỳ vọng
4 tháng 8, 2026
PHR – Tin Vắn – [KHÔNG XẾP HẠNG] – Tiền đền bù đất thúc đẩy KQKD 2Q26
PHR – Tin Vắn – [KHÔNG XẾP HẠNG] – Tiền đền bù đất thúc đẩy KQKD 2Q26Trong 2Q26, PHR ghi nhận doanh thu ròng 406 tỷ đồng (-13% q/q, +11% n/n), LNG tăng lên 140 tỷ đồng (+20% q/q, +41% n/n). LNTT tăng vọt 276% n/n lên 453 tỷ đồng do PHR ghi nhận 266 tỷ đồng thu nhập khác, chủ yếu từ tiền bồi thường đất gồm (1) 35.9 tỷ đồng từ KCN THACO và (2) 228.4 tỷ đồng từ VSIP III.PDFPHR - Tin vắn - [Không xếp hạng] - Tiền đền bù đất thúc đẩy KQKD 2Q26
4 tháng 8, 2026
HAH – Tin Vắn – [KHÔNG XẾP HẠNG] – Tăng giá cước, phụ phí hỗ trợ lợi nhuận 2Q26
HAH – Tin Vắn – [KHÔNG XẾP HẠNG] – Tăng giá cước, phụ phí hỗ trợ lợi nhuận 2Q26HAH ghi nhận doanh thu 2Q26 đạt 1,534 tỷ đồng (+21% q/q, +20% n/n). Cụ thể: doanh thu vận tải tăng đạt 1,502 tỷ đồng1 (+18% q/q, +8% n/n), doanh thu mảng cảng đạt 156 tỷ đồng1 (+1% q/q, -2% n/n). LNST-CTM đạt 372 tỷ đồng (+24% q/q, +3% n/n).PDFHAH - Tin vắn - [Không xếp hạng] - Tăng giá cước, phụ phí hỗ trợ lợi nhuận 2Q26
3 tháng 8, 2026
ACB – Tin Vắn – [KHÔNG XẾP HẠNG] – Chi phí dự phòng tăng và hoạt động phi tín dụng trầm lắng
ACB – Tin Vắn – [KHÔNG XẾP HẠNG] – Chi phí dự phòng tăng và hoạt động phi tín dụng trầm lắngLNTT 2Q26 giảm -11.9% n/n xuống 5,367 tỷ VND, bị ảnh hưởng bởi hoạt động đầu tư & kinh doanh ngoại hối không đạt kỳ vọng, thu hồi nợ xấu chậm và chi phí dự phòng tăng. Kết quả kinh doanh thấp hơn kỳ vọng của chúng tôi. LNTT 6T26 đầu năm đạt 10,735 tỷ VND (+0.4% n/n), hoàn thành 48% kế hoạch cả năm 2026.PDFACB - Tin Vắn - [KHÔNG XẾP HẠNG] - KQKD 2Q26 F
30 tháng 7, 2026
QTP – Báo cáo cập nhật – MUA – 2Q26: Lợi nhuận ròng tiếp tục tăng trưởng
QTP – Báo cáo cập nhật – MUA – 2Q26: Lợi nhuận ròng tiếp tục tăng trưởngTrong 2Q26, doanh thu đạt 3,624 tỷ đồng (+27% n/n), nhờ sản lượng ước tính tăng 5% n/n, trong bối cảnh nhu cầu tiêu thụ điện cả nước duy trì tích cực (+13% n/n), cùng với giá bán điện bình quân tăng 21% n/n. Lợi nhuận gộp đạt 419 tỷ đồng (+57% n/n), với biên LNG cải thiện lên 11.6% (+2.3 đpt n/n), được hỗ trợ bởi chi phí khấu hao giảm (-24% n/n) và suất hao nhiệt được cải thiện. Theo đó, LNST đạt 326 tỷ đồng (+70% n/n), chủ yếu nhờ (i) biên LNG cải thiện và (ii) hoàn tất thanh toán các khoản vay. PDFQTP - Báo cáo cập nhật - [MUA] - Lợi nhuận ròng tiếp tục tăng trưởng
29 tháng 7, 2026