Daily Call
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Market Focus: The VNIndex inched higher amid sector rotation
Macro Wrap: Guidance on Construction Contract Adjustments Amid Fuel, Material, and Logistics Cost Pressures
Equity Research Update: CTG VN (BUY; TP VND 44,800): Robust fundamentals amid macro volatility
13/05/2026
DownloadMarket Focus: Sentiment deteriorated, the VNIndex slid to intraday low
Macro Wrap: Update on Vietnam economy in Jan-Feb and implications of rising oil price
Equity Research Update:
- CTG VN (BUY; TP VND 44,800): Worth Far More
- Vietnam ETFs 1Q26 Index Rebalancing Summary
09/03/2026
DownloadMarket Focus: Index drops on decline of conglomerate stocks
Macro Wrap: FED rate cut and implications to Vietnam
Equity Research Update: CTG VN (Outperform; TP VND 63,800): Charging Toward Growth
11/12/2025
DownloadMacro Update: Public Investment Acceleration
Equity Research Update: CTG VN (OUTPERFORM; TP VND 63,800): Good wine needs no bush
22/09/2025
DownloadMarket Wrap: Market exerted resilience despite accelerated profit-taking pressure
Macro Update: Update on cabinet meeting resolution
Equity Research Update:
- FTSE Vietnam Index: 1Q 2025 review results
- FRT VN (Outperform; TP VND 220,000): Long Chau capital raising catalyst ahead
10/03/2025
DownloadMacro Update: Update on inflation
Equity Research Update:
- PLX VN (Market Perform; TP VND 45,000): Pending the finalization of the Decree on Petroleum Business
- POW VN (Market Perform; TP VND 12,200): Long-term LNG supply agreement to benefit Nhon Trach 3&4 project over the long-term
- CTG VN (BUY; TP VND 49,100): Charming Top Gem
07/03/2025
DownloadMarket Wrap: Local market corrected on lingering DeepSeek shock and elevated global trade war
Macro Update: Tet's Snake Peek: Be Patient!
Equity Research Update:
• [Flash Note] HDB VN (Outperform; TP VND 28,200): 4Q24 business results
• [Flash Note] MBB VN (Outperform; TP VND 25,200): 4Q24 business results
• [Flash Note] STB VN: 4Q24 business results
• [Flash Note] VCB VN (BUY; TP VND 120,000): 4Q24 business results
• [Flash Note] SAB VN (Market Perform; TP VND 64,500): Improving sales, amidst challenging backdrop
• [Flash Note] FRT VN (Outperform): 4Q24 earnings results
03/02/2025
DownloadMarket Wrap: Market extended rebound as foreign sells subsided
Macro Update: Update on the Party Central Committee meeting and the NA meeting agenda
Equity Research Update:
• PNJ VN: October results
• HT1 VN (Market Perform; TP VND 12,000): Expecting higher demand growth during 2025
• CTG VN (BUY; TP VND 44,200): Shifting gears in profit growth
25/11/2024
DownloadMarket Wrap: Market trended sideways at the upper-band of the VN-Index
Macro Update: Update on infrastructure development
Equity Research Update: Vietnam ETFs 3Q24 review estimates
28/08/2024
DownloadMarket Wrap: Market was weighed down on profit-taking pressure despite strong surge of pillar Vingroup’s stocks
Macro Update: Update on money market movement and exchange rate
Equity Research Update:
CTG VN (Outperform; TP VND 38,500): Bad debt settlement on track
PNJ VN (Outperform; TP VND 120,000): Market share gain in the context of strict inspection over gold origin
27/08/2024
DownloadMarket Wrap: Market continued to be weighed down on weak sentiment and extremely low trading volume
Macro Update: Update on the Vietnam equity market upgrade status
Equity Research Update: CTG VN: 2Q24 AM note
15/08/2024
DownloadMarket Wrap: The VN-Index bent on intensified foreign sells towards closing, unable to breakthrough 18-month high
Macro Update: Update on the monthly cabinet meeting minutes
Equity Research Update:
- Updates on some steel protection measures
- CTG VN (Outperform; TP VND 38,500): Setting sail
06/06/2024
DownloadMarket wrap: Bourses fluctuate on mixing trading themes
Macro wrap: Update on the Power Development Plan VIII
Equity wrap: HDB VN (Outperform; TP VND 32,300): A well-rounded Q2 performance
17/08/2022
DownloadMarket wrap: Bourses retreated on Vietnam GSO numbers released
Macro wrap: July Macro Update: Mixed performance and cautious outlook ahead
Equity wrap: VCB VN (Outperform; TP VND 90,700): A strong showing across all operations
CTG VN: Earnings beat estimate but asset quality disappointed
01/08/2022
DownloadMarket wrap: Bourses moved up above 1500 threshold on easing sentiment
Macro wrap: Update on Covid situation in Vietnam
Equity wrap: CTG VN (Outperform): Pre-emptive provisioning led to a pullback in PBT during 4Q 2021
18/02/2022
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