reports
- Phuong Nguyen
EFFORT TO GAIN POINTS
The market continued its effort to gain points and challenge the area near 1,900 points, but was temporarily restrained in this zone with a Star candle pattern. Liquidity increased compared to the previous session, showing that profit-taking supply remains quite strong as the market approaches the resistance zone, yet supportive cash flow has become more proactive across many stock groups and is striving to absorb the supply. This state of dispute may continue in the next trading session, but ...
- Phuong Nguyen
MARKET DIVERGENCE
The market made an effort to gain points and continue challenging the area near 1,900 points, but was temporarily resisted, forming a Star candle. Liquidity increased compared to the previous session, showing that profit-taking supply remains strong as the market approaches the resistance zone. The state of dispute combined with strong divergence reflects investors' cautious sentiment toward the 1,900-point mark—the upper boundary of the medium-to-long-term price channel. The market is expecte...
- Thach Lam Do
GDA – Accumulating for long-term goals
• In the first 9 months of 2025 (9M2025), GDA recorded revenue of VND 11.9 trillion (-22% YoY), with galvanized and coated steel sales volume reaching 588 thousand tons (-12% YoY). In response to rising trade remedy risks from importing countries, the company has proactively shifted its order allocation toward the domestic market, achieving domestic sales volume of 414 thousand tons (+60% YoY). This performance allowed GDA to maintain its position as the No. 2 player in the domestic galvanized/c...
- Huong Le
Vietnam Midstream Oil & Gas: A stable petroleum transport base with an...
• We believe that by 2026, Vietnam’s midstream oil & gas segment will maintain a balance between stability and growth. Petroleum transportation continues to play a pillar role in generating the main cash flow base due to its large scale and defensive nature, despite being exposed to the shipping freight rate cycle. • At the same time, gas transportation and distribution, particularly liquefied natural gas (LNG), is emerging as a key growth driver within the midstream segment, supported by rapi...
- Phuong Nguyen
COOLING DOWN
session but was resisted near the 1,900-point area and pulled back at the close. Liquidity increased compared to the previous session, indicating that profit-taking supply significantly rose as the market approached the resistance zone. This pullback is characterized as a "cooling down" phase after several consecutive sessions of gains. Corrective pressure may persist in the next trading session, bringing the market back to an equilibrium state. However, the market is expected to receive suppo...
- Anh Tran
Understanding the data center market & Vietnam in the regional context
• Data centers (DCs) are purpose-built facilities designed to house and protect computer systems, servers, storage devices, and other network components. They serve as critical infrastructure for the storage, processing, and safeguarding of enterprise data. DCs are commonly classified along two dimensions: (i) by Uptime Institute standards, which assess fault tolerance, availability, and downtime; and (ii) by scale and operating model. • The development of a DC from construction to commercial o...
- Phuong Nguyen
MOVING FORWARD
The market continued its upward journey after surpassing the former peak in the previous session. Liquidity increased compared to the prior session, indicating that supportive cash flow continues to bolster the market and spread across many stock groups. The market's gain-extending movement is ongoing with no specific signs of stopping yet. The market is expected to continue its upward trend in the next trading session and head toward the 1,900-point area, the upper boundary of the medium-to-l...
- Hung Le
- Lam Nguyen
Investment outlook 2026: 11.2 km/s
Last year, we chose the message “Dare to Depart” to capture a mindset of decisive reinvention: accepting a “build as you go, adjust as you learn” approach to move beyond a comfortable growth path, at a time when external headwinds were intensifying—from tariff policy to geopolitical volatility. In many ways, 2025 validated that message. The tariff shock in April and the tremors in the global economic order confronted Vietnam with a more difficult balancing act: growth, stability and confidence. ...
- Phuong Nguyen
SURPASSED THE FORMER PEAK
The market continued its upward trend and surpassed the former peak despite the supply pressure in this area. Liquidity increased slightly compared to the previous session, showing that supportive cash flow continues to bolster the market and help it overcome supply pressure at the old peak. The breakout signal accompanied by increasing liquidity is creating an opportunity to extend the market's gains. Fluctuations may occur, but the 1,800-point area has temporarily become a support zone and h...
- Duong Tran
Yellow Phosphorus 2026 – Supply Risks and the New Export Tax
• In 2025, export prices of phosphorus for the whole industry recovered slightly, while export volumes of DGC (accounting for 50% of Vietnam’s total capacity) grew more positively than other companies thanks to its large exposure to the Japanese market – where customers are mainly in high-tech industries, especially semiconductor manufacturing. • For 2026, we expect total industry P4 export volume to decline by 30% YoY, due to: 1/ Significant risks related to environmental issues and mining act...
- Giao Nguyen
Rubber industry in 2026 – Selling prices are expected to be anchored w...
• In terms of supply, we assess that the ability to expand production in the medium term is still low due to: 1/ New planting and replanting activities are slow for many years; 2/ The policy of controlling the planting area in Thailand continues; 3/ The increase in rubber prices in 2024-2025 mainly reflects adverse weather factors, which are not strong enough to create a driving force for expansion, replanting or new investment. • In terms of demand, we expect it to remain up, but at a moderate...
- Phuong Nguyen
STRUGGLE AT THE PREVIOUS HIGH
The market retested its former peak but continued to record resistance pressure in this area with a Star candle accompanied by increasing liquidity. Liquidity rose compared to the previous session, indicating that supply is still present at the old peak and is restraining the cash flow's supporting efforts. The recovery movement has brought the market close to the 1,800-point area, which has formed the market's short-term peaks over the last 3 months. This zone has triggered an increase in sup...
- Phuong Nguyen
ENDED THE YEAR IN THE GREEN
The market continued its recovery trend and approached the 1,800-point area. Liquidity increased slightly compared to the previous session, indicating that profit-taking supply has increased but has not yet put significant pressure on the market as the 2025 fiscal year comes to a close. The recovery movement is pushing the market deeper into the 1,750 – 1,800 resistance zone, the short-term peak area over the past 3 months. Supply is expected to continue rising and trigger a strong tug-of-war ...
- Hung Nguyen
Vietnam's Data Center Market – Breakout growth phase expected from 202...
• Vietnam’s market has yet to hit an inflection point and remains far behind global hyperscalers in infrastructure scale and CAPEX intensity. Nevertheless, from 2026, it could prove fertile ground for data center operators, supported by strong government policy push (domestic data residency requirements, personal data protection, national digital transformation agenda) and increasing enterprise awareness. CMG (CMC) and FOX (FPT Telecom) stand out as direct beneficiaries.
- Toan Vo
- Phuong Nguyen
NARROWED THE LOSSES
The market continued to decline and fell into a short-term oversold state, below the 1,700-point area, before recovering. Liquidity increased compared to the previous session, showing that cash flow was actively absorbing supply at low price levels. The recovery signal and return above the MA(20) line indicate the supporting efforts of cash flow. A retest of the MA(20) area may occur in the next trading session, but the market is expected to continue receiving support at this level and recover...
- Anh Tran
VGI – 9M2025 PBT beats annual plan by 33%, market price is discounted ...
• In 3Q2025, VGI recorded net revenue of VND 11,622 bn (+27% YoY), NPAT-MI of VND 4,160 bn (20 times higher than the same period last year, driven by a low base as 3Q2024 was affected by financial costs from revaluation exchange rate differences). Cumulatively, 9M2025 net revenue reached VND 31,793 bn (+23.6% YoY), with NPAT-MI of VND 5,982 bn (+159% YoY). Revenue and PBT achieved 82% and 139% of VGI’s 2025 target, respectively (equivalent to 75% and 73% of VDSC’s forecast). • Revenue contribut...
- Phuong Nguyen
PLUNGED DURING THE ATC SESSION
The market reversed and declined after failing to challenge the old peak at the 1,800-point area. Liquidity remained steady compared to the previous session, indicating that while supply was not overly large, it still had a negative impact as cash flow remains cautious at the former peak. This reversal temporarily negates the cash flow's efforts to absorb supply at the old peak and negatively affects the market in the short term. The market is expected to continue pulling back in the next trad...
- Phuong Nguyen
STRIVING TO STAY IN THE GREEN
The market experienced fairly strong fluctuations during the trading session, at times pulling back toward the 1,750 area, but overall, it is still making efforts to gain points. Liquidity decreased slightly compared to the previous session, indicating that cash flow remains cautious as the market moves deeper into the resistance zone, but supply pressure has not yet become significant. The tug-of-war state may continue in the next trading session with relatively strong up/down fluctuations wi...
- Tung Do
Investment as a Driver of Economic Growth: Asian Experiences and Polic...
• Pursuing high economic growth through robust investment, alongside factors that enhance total factor productivity (TFP), such as scientific and technological advancement and innovation, represents a common strategy adopted by many developing countries to transition toward developed-nation status and high-income levels. • South Korea and Taiwan—two of Asia's "Tiger" economies—successfully implemented this growth strategy by directing credit flows toward priority sectors, combined with substant...
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