Daily Call

Market Wrap: Market extended steep correction and foreign investors returned as strong buyers

Macro Update: Update on inflation and market upgrade

Equity Research Update: DBD VN (Outperform; TP VND 62,000): Upgrade to Outperform

Market Wrap: Profit-taking intensified at above historic 1700pts leading to sharp final-hour market correction

Macro Update: August Data & Monetary Policy Discussion

Equity Research Update: Vietnam ETFs: Q3 2025 Rebalancing Outlook

Market Wrap: Market accelerated towards 1700pts following short pause

Macro Update: Update on personal income tax revision

Equity Research Update: VEA VN (BUY; TP VND 48,000): At a Crossroads

Market Wrap: Locals sustained market at record high in spite of foreign dumping

Macro Update: Update on government meeting

Equity Research Update: Circular 14/2025: A Dual Approach to Prudence and Growth

Market Wrap: Securities stocks drove market on anticipation of upgrade and digital asset exchange

Macro Update: News briefing

Equity Research Update: HDB VN (Market Perform; TP VND 36,800): Solid Core Income, But Asset Quality Concerns Weigh on Outlook

Market Wrap: VN-Index rises on FTSE upgrade expectation

Macro Update: Legal Advancements in International Arbitration within Vietnam’s IFC

Equity Research Update: DBD VN: 2Q25 Results: Strong Growth Momentum with Margin Expansion

Market Wrap: Laggers ran wild as rally extended

Macro Update: Update on petroleum product policy

Equity Research Update: Vietnam Industrial Park Sector Update: Cost-Driven Profit Growth in 1H25, MOU Activity Faces Challenges in 2H25

Market Wrap: Market took off stronger just after 2 days of correction

Macro Update: Decree 24/2012 revision: A Landmark Reform in Gold Market Regulation

Equity Research Update: MWG VN (BUY; TP VND 87,000): Growth engine shifts: grocery to take the lead in 2026

Market Wrap: Aggressive profit-taking on Banks dragged down the market for the 2nd consecutive session

Macro Update: Not a Currency Story

Equity Research Update: KDH VN (Market Perform; TP VND 36,500): Strong pipeline, Softer upside 

Market Wrap: A market not for the faint-hearted

Macro Update: FX Intervention at a Perfect Timing

Equity Research Update: REE VN (Market Perform; TP VND 69,400): Hydropower drives power ahead, while real estate lags 

Market Wrap: Risk appetite heightened with smaller Bank stocks shot up to ceiling

Macro Update: Ambition Meets Excitement

Equity Research Update: BMP VN (Outperform; TP VND 158,700): Real estate focus, pricing discipline set stage for 2026

Market Wrap: Flash dip neutralized with extended Banking rally

Macro Update: News briefing

Equity Research Update: MWG VN (BUY): Analyst Meeting Highlights: Doubling down on growth

Market Wrap: IPOs of securities arms of leading JSCBs boosted the market

Macro Update: Progress Update on the International Financial Center (IFC) Initiative

Equity Research Update: GMD VN (Outperform; TP VND 75,000): 2Q25 Analyst Meeting: Positioning for a Re-rating  

Market Wrap: Local investors continued to drive up the VNIndex despite staggering foreign dumping

Macro Update: Update on market upgrade

Equity Research Update: VNM VN (Market perform; TP VND 65,000): Recovery Evident, But Margin Headwinds Persist

Market Wrap: An intense trading session with staggering foreign profit-takings

Macro Update: Update on electricity pricing mechanism

Equity Research Update: HDG VN (Market Perform; TP VND 33,000): 1H25 Earnings Miss Expectations; Outlook Supported by Real Estate and Hydropower