Stock Market

The Warrant Market This Week: Foreign Investors Continue Their Selling Spree

The trading session on August 29, 2025, concluded with a mixed performance across the market. Out of all the stocks traded, 142 witnessed an increase in their value, while 89 declined, and 28 remained unchanged. Foreign investors continued their net-selling trend, offloading a total of 3 million covered warrants.

Administrator

4 September, 2025

431

I. MARKET DEVELOPMENT OF WARRANTS

As of the trading session on August 29, 2025, the market closed with 142 advancing codes, 89 declining codes, and 28 reference codes.

Market breadth over the last 20 sessions. Unit: Percentage

Source: VietstockFinance

In the trading session on August 29, 2025, buyers continued to lead the market, causing most of the warrant codes to increase in price. Specifically, the large codes in the group that increased in price were CVPB2513, CVHM2510, CMBB2512, and CVRE2505.

Source: VietstockFinance

The total trading volume of the market in the session on August 29 reached 69.12 million CWs, up 20.6%; the trading value reached VND 186.58 billion, up 33.2% compared to the session on August 28. Of which, CHPG2528 was the code leading the market in volume with 2.91 million CWs; CVRE2503 led in trading value with VND 10.73 billion.

Foreign investors continued to sell a net in the session on August 29, with a total net selling volume of 3 million CWs. In particular, CSHB2510 and CMSN2508 were the two codes that were net sold the most. For the whole week, foreign investors net sold more than 12.57 million CWs.

Securities companies SSI, ACBS, KIS, HCM, and VPBankS are currently the organizations with the most warrant codes in the market.

Source: VietstockFinance

II. MARKET STATISTICS

Source: VietstockFinance

III. WARRANT VALUATION

Based on the valuation method suitable for the starting point of September 03, 2025, the reasonable prices of the warrants currently being traded in the market are as follows:

Source: VietstockFinance

Note: The opportunity cost in the valuation model is adjusted to suit the Vietnamese market. Specifically, the risk-free bill interest rate (government bills) will be replaced by the average deposit interest rate of large banks with term adjustments suitable for each type of warrant.

According to the above valuation, CVHM2515 and CVHM2508 are currently the two warrant codes with the most attractive valuations.

The higher the effective gearing ratio of a warrant code, the greater its increase/decrease relative to the underlying stock. Currently, CMSN2506 and CVNM2512 are the two codes with the highest effective gearing ratios in the market.

Economic Analysis and Market Strategy Division, Vietstock Consulting Department

– 18:58 09/02/2025