Daily Call

Market Wrap: The VNIndex exceeded 1400pts on robust foreigners’ inflows and liquidity

Macro Update: Update on reciprocal tariff

Equity Research Update: Vietnam Steel Sector Update: Firing up all furnaces

Market Wrap: Foreigners unlined market’s strength for 3 consecutive sessions

Macro Update: Vietnam’s Economy in 1H25: Broad-Based Growth and Policy Shifts Toward Market Agility

Equity Research Update: Vietnam Banking Sector Update: From Pressure to Performance: Vietnam Banks in Transition

Market Wrap: Market budged on US – VN trade deal but turnover spiked

Macro Update: Preliminary Update on 1H25 Economic Data

Equity Research Update: Vietnam Fertilizer Sector Update: New VAT Policy to boost Profitability

Market Wrap: Market picked up on unverified rumors and strong foreign buys

Macro Update: Assessment on the Vietnam-US trade framework

Equity Research Update: Vietnam Real Estate Sector Update: Stronger market momentum expected in 2H2025

Market Wrap: Market well-supported amid correction pressure

Macro Update: Update on Vietnam 1H25 growth

Equity Research Update: Vietnam Oil&Gas Sector Update: E&P Activity Remains Resilient Despite Weak Oil Price Outlook

Market Wrap: Market’s upward momentum sustained on declined liquidity in the final day of 1H25

Macro Update: Update on the Provincial Consolidation and Money Market

Equity Research Update:

• DPR VN (Outperform; TP VND 48,300): Unlocking Value Through Strategic Land Conversion and Industrial Expansion
• PHR VN (Outperform; TP VND 74,100): Strategic Land Conversion Unlocks Long-Term Value

Market Wrap: Correction pressure weighed on the market but Consumer stocks shined

Macro Update: Update on Reciprocal tariff and Laws of Credit Institutions revision

Equity Research Update: VN30 Index and VNFin Lead Index 3Q25 Review Estimates

Market Wrap: Sentiment cooled off, VNIndex closed flat

Macro Update: Update on money market

Equity Research Update: HAH VN (Market Perform; TP VND 64,300): Time to lock in the gains

Market Wrap: Optimism rippled through market on eased Middle East conflict and anticipation of favorable US reciprocal tariff

Macro Update: Update on monetary policy

Equity Research Update:

MWG VN (Outperform; TP VND 74,000): May 2025 Business Update

KBC VN: KBC’s 250 Million-Share Private Placement

Market Wrap: Market proven to be resilient, driven by Vingroup stocks

Macro Update: Progress in Tariff Negotiations and Implications for Vietnam

Equity Research Update: 2Q2025 Corporate Earnings Preview

Market Wrap: Market supported by robust gains of Exporting stocks

Macro Update: Update on trade negotiation and growth outlook

Equity Research Update: NT2 VN (BUY; TP VND 25,000): Upgraded to BUY: Solid Outlook Despite Near-Term Revenue Miss

Market Wrap: Market resilience drove by Industrial Park and Wholesale stocks

Macro Update: Update on MSCI accessibility review, exchange rate

Equity Research Update: TNH VN (Underperform; TP VND 15,100): Downgrade Following Disappointing Q1 Results; Cautious Outlook Maintained

Market Wrap: Market momentum eases amid rising geopolitical tensions

Macro Update: Update on Enterprise Laws revision

Equity Research Update: GVR VN: Earnings on track as GVR advances land conversion agenda

Market Wrap: The VNIndex recovered to 3-year high, driven by Vingroup stocks

Macro Update: Navigating Growth and Formalization

Equity Research Update: Vietnam Consumer Sector Update: Retail Renaissance: Accelerating the Shift from Stalls to Stores