Daily Call

Market Focus: Rally let off steam with SOE stocks under profit-taking pressure

Macro Wrap: 14th Party Congress: Execution-Led Policy and the Medium-Term Growth Path

Equity Research Update: Vietnam Transportation Sector Update: Bracing for Tariff Impact

Market Focus: SOE theme sustained despite strong profit-taking

Macro Wrap: Update on Tax Policy on Household Businesses

Equity Research Update: Vietnam Construction & Construction Materials Sector: Backlog Rises with Housing & Infra Push

Market Focus: Vingroup stocks succumbed to SOE stocks

Macro Wrap: Update on Resolution 01

Equity Research Update: Vietnam Steel Sector Update: Gone with Policy Tailwind

Market Focus: PVN stocks hiked for a 2nd round of SOE divestment theme

Macro Wrap: Resolution on the Foreign-Invested Sector: Vietnam’s FDI Strategy Shifts from Capital Attraction to Strategic Partnership

Equity Research Update: Vietnam Fertilizer Sector Update: VAT rebates and softer input costs to lift margins

Market Focus: Broad-based rally led by Brokerage and SOE stocks

Macro Wrap: Vietnam Monetary Policy Update – SBV Signals Policy Continuity with Heightened Vigilance

Equity Research Update: Vietnam Retail Sector Update: Tracing the evolution of modern trade

Market Focus: SOE divestment theme sustained on official issuance of Resolution 79

Macro Wrap: Vietnam Public Investment (2025–26)

Equity Research Update: Vietnam Residential Property Update: Recovery Underway, Risks Remain

Market Focus: SOE Banks took spotlight

Macro Wrap: January Policy Signals: Execution Takes Center Stage

Equity Research Update: Vietnam Banking sector: Beyond the cycle

Market Focus: Market surges beyond expectations amid SOE divestment buzz and foreign inflows

Macro Wrap: A Strategic Shift in Growth Model

Equity Research Update:

•           BID VN (Outperform; TP VND 46,400): Strong FY25 beat; Q4 earnings surprise

•           STB VN: Loss-making Q4; Aggressive clean-up weighs on FY25

Market Focus: SOE stocks took spotlight

Macro Wrap: Inflation Update

Equity Research Update: Vietnam Oil & Gas sector: Global Headwinds, Domestic Tailwinds

Market Focus: Vingroup and Energy stocks kicked off 2026 gains

Vietnam Macro Wrap: 2025 Economic Performance

Equity Research Update: Vietnam Food & Beverage Sector Update: Gradual growth via rising disposable income and premiumization

Market Focus: Foreigners helped close the VNIndex on high note in the final day of the year

Macro Wrap: Update on tourism

Equity Research Update: VN30 Index and VNFinLEAD Index 1Q26 Review Estimates

Market Focus: VNIndex rebounds on foreign inflows and late-session strength

Macro Wrap: Accelerating the Resolution of Stalled Projects

Equity Research Update:

•           4Q2025 Corporate Earnings Preview

•           Gelex infrastructure JSC (GEI): IPO Overview

Market Focus: The Vingroup ecosystem acted as a key stabilizing force for the market after several consecutive days of decline.

Macro Wrap: Monetary Policy Update (Part II)

Equity Research Update: HDB VN: Earnings revision

Market Focus: Vingroup stocks continued to fuel market volatility

Macro Wrap: Update on Monetary Policy: Cautious?

Equity Research Update: Vietnam Power sector: Nhon Trach 3 & 4: A Foundational Step in the Long-Term Green Transition

Market Focus: Vingroup shock pulled down the entire market

Macro Wrap: Vietnam Trade 2025: High Tech Momentum, FDI Dominance, and a Stable Surplus

Equity Research Update: GAS VN (Market Perform; TP VND 65,400): Preliminary 2025 Results Signal Solid Top-Line Momentum