Daily Call

Market Wrap: Market boomed with new records made in index points and trading turnover

Macro Update: Update on trade

Equity Research Update: VPB VN (Outperform; TP VND 27,300):   2Q25 result: Solid beat

Market Wrap: New history made

Macro Update: Progress on Resolution of Stalled Projects

Equity Research Update: DGC VN (Outperform; TP VND 122,000):  Stronger 2H25 Earnings Dependent on Apatite Ore Licensing Approval

Market Wrap: The VNIndex sustained historical peak despite tugs-of-war between buyers and sellers

Macro Update: Proposed Amendments to the Law on Public Debt Management

Equity Research Update: HT1 VN (Outperform; TP VND 15,700):  Strong earnings rebound underpinned by robust demand and easing input costs

Market Wrap: The VNIndex sustained 1500pts threshold on robust liquidity

Macro Update: Update on Reciprocal Tariff Developments and Vietnam’s Trade Outlook

Equity Research Update: VLB VN (Outperform; TP VND 59,700):   Infrastructure Boom Fuels Strong Double-Digit Growth Outlook

Market Wrap: The VNIndex officially conquered the 1500pts threshold

Macro Update: Update on the draft on personal income tax law

Equity Research Update: TCB VN (Market Perform; TP VND 38,800): 2Q25 Business Results Overview

Market Wrap: Market corrected with good absorption

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

Equity Research Update: VNDiamond, VNFIN Lead Indices 3Q25 Review Results

Market Wrap: Despite 3 attempts, the VNIndex still closed shy of record 1500pts threshold

Macro Update: Update on land policy reform

Equity Research Update: NT2 VN (BUY; TP VND 25,000): 1H25 recap: NT2 reports strong 2Q25 results, surpassing full-year guidance 

Market Wrap: Uptrend secured on enthusiastic local investors’ sentiment

Macro Update: Progress on Vietnam’s Market Upgrade

Equity Research Update: FPT VN (Market Perform; TP VND 132,000): 1H25 results: APAC weak momentum weighed on global IT performance

Market Wrap: Market’s upward trend solidified with firm rise of Financials and Realties

Macro Update: Update on Vietnam new GDP growth target

Equity Research Update:

Draft Amendment to Decree 24/2012/ND-CP on Gold Trading Management

HPG VN: 2Q25 Prelim Results: Strong Growth by Margin and Capacity Expansion

Market Wrap: EM upgrade investment theme becoming vivid

Macro Update: Government Efforts to Resolve Stalled Projects and Renewable Energy Challenges

Equity Research Update:

HSG VN (Market Perform; TP VND 18,300):  3Q FY2025 Preliminary Results

CTR VN (Market Perform; TP VND 108,000): 1H25 Recap: Slightly lower-than-expected number of newly built BTS sites

Market Wrap: VN-Index climbed despite rising selling pressure

Macro Update: Tariff Developments and Vietnam–Russia Trade Overview

Equity Research Update: Vietnam Construction Sector: Positive Growth Momentum

Market Wrap: VN-Index accelerated, driven by large-cap stocks

Macro Update: Update on state budget revenue

Equity Research Update: Consumer Staples: Leading F&B companies-Now more affordable!

Macro Update: Update on Payment Account Procedures for Foreign Investors

Equity Research Update: Vietnam Transportation Sector: Navigating a Bumpy Road Ahead

Market Wrap: VN-Index increased on strong inflows from foreign and retail investors

Macro Update: Key Tariff Adjustments and Trade Developments

Equity Research Update: Vietnam Retail Sector: Retail Reinvented: Consolidation and Growth Amid Regulatory Shifts

Market Wrap: VN-Index extended rally on strong foreign inflows

Macro Update: Update on exchange rate

Equity Research Update: Vietnam Technology & Telecom Sector: AI and Digital Transformation as Strategic Pillars Amid Moderating Sentiment