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Daily Call
Đấu giá mới nhất
Market Focus: Interest-sensitive Insurance stocks outperformed at the expense of Securities and Realty stocks
Macro Wrap: Update on Circular 102/2025/TT-BTC
Equity Research Update:
• HPG VN (BUY; TP VND 35,000): Capacity upgrade completed
• CTR VN (Outperform; TP VND 102,000): Catalysts from Vietnam power sector
04/11/2025
DownloadMarket Focus: VNIndex plunged 1.79% amid ETF rebalancing, while Oil & Gas stocks outshone on strong Q3 results despite broad market weakness.
Macro Wrap: Update on Governance Option for Vietnam's International Financial Centre
Equity Research Update:
• VIC VN: 3Q25 Business Results Overview
• DPR VN (Outperform; TP VND 46,100): Strongest Quarterly Earnings Since 2022
• Draft Decree on Industrial and Economic Zone Management – Key Highlights
03/11/2025
DownloadMacro Wrap: Implication of the U.S.–China Trade Truce on Vietnam
Equity Research Update:
• MCH VN (Market Perform; TP VND 161,000): Early recovery signals
• VHM VN (Market Perform; TP VND 98,300): 3Q25 Business Results Overview
• STB VN (Outperform; TP VND 66,100): 3Q25 Business Results
31/10/2025
DownloadMacro Wrap: Implication of Fed rate cut
Equity Research Update:
• SAB VN (Outperform; TP VND 55,000): 3Q25 Earnings – Earnings Boosted by Financial Income
• VRE VN: 3Q25 Business Results Overview
30/10/2025
DownloadMacro Wrap: Vietnam Deepens Regional Integration Through Upgraded ASEAN Trade Pacts
Equity Research Update:
• FPT VN (Outperform; TP VND 120,000): Technology segment as 2026 growth driver
• HT1 VN (Market Perform; TP VND 18,400): Continuing Earnings Recovery on Lower Input Costs; Pricing Headwinds Persist to 2026.
29/10/2025
DownloadMacro Wrap: Vietnam Property Market Data Transparency
Equity Research Update:
• MBB VN (Outperform; TP VND 30,000): Earnings Miss Priced In — Long-Term Value Still Compelling
• IMP VN (Outperform; TP VND 55,000): Earnings Stay Healthy
28/10/2025
DownloadMacro Wrap: Update on Reciprocal Trade Frameworks
Equity Research Update: ACB VN (Outperform; TP VND 30,200): Holds the Line in 3Q25 - Valuation Too Attractive to Overlook
27/10/2025
DownloadMacro Wrap: Thoughts on 2026-2030 socio-economic development plan
Equity Research Update:
• VNDiamond, VNFIN Lead Indices 4Q25 Review Results
• PNJ VN (BUY; TP VND 109,000): Upbeat 3Q25 Results Driven by Strong Gold Bar Sales and Price Adjustments
24/10/2025
DownloadMacro Wrap: Thoughts on stalled projects resolution
Equity Research Update:
• DGW VN (Outperform; TP VND 47,700): AI-laptop adoption to support earnings growth
• MWG VN: 3Q25 Earnings Hit Record High on Strong Core Performance
• TCB VN (Outperform; TP VND 45,000): Delivers Strong 3Q25 Beat with Robust Credit and Fee Income Growth
23/10/2025
DownloadMarket Focus: Market recovery calmed investors; Tactical Buying triggered on VN30
Macro Focus: Fiscal Plan 2026–2030: Ambitious Expansion under Fiscal Vigilance
Equity Research Update:
• FPT VN: 3Q25 Update: Weak global IT momentum weighed on 9M25 growth, but NPAT beat expectations
• NT2 VN (BUY; TP VND 29,000): Strong electricity demand aided NT2’s 3Q25 earnings surge
22/10/2025
DownloadMacro Watch: A decline without clear catalyst
Equity Research Update: Vietnam Brokerage sector update: Triple Last Year. Double Last Quarter. Brokers Are on a Roll!
Notable Events: National Assembly's last meeting in 2025 (Oct 20 to Dec 11).
Techcom Securities (TCX) will debut on the Ho Chi Minh Stock Exchange (HOSE) today, with a reference price set at VND 46,800 per share.
21/10/2025
DownloadMacro Watch: Market pullback followed by concerns over trade-war, investigation on corporate bond issuance, but the movement in FX market has drawn attention.
Equity Research Update: BMP VN: Healthy low season growth, and record earnings backed by cost relief
Notable Event: On October 21, Techcom Securities (TCX) will debut on the Ho Chi Minh Stock Exchange (HOSE), with a reference price set at VND 46,800 per share.
20/10/2025
DownloadMacro Update: Apple Accelerates Smart Home Manufacturing Shift to Vietnam
Equity Research Update: VN30 4Q25 Index Review Results and Xtrackers Vietnam Swap UCITS ETF Update
17/10/2025
DownloadMacro Update: Vietnam Gold Exchange – Policy Momentum Builds Toward Formalization
Equity Research Update: Vietnam Residential Property Sector: Recovery with Robust Launch Pipeline
16/10/2025
DownloadMacro Update: National Assembly’s Final Session of 2025 – Strategic Legislation in Focus
Equity Research Update: VPB VN: Earnings Beat: A Catalyst-Ready Story
15/10/2025
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