I. MARKET DEVELOPMENT OF WARRANTS
As of the close of the trading session on 09/09/2025, the market witnessed 75 advancing codes, 144 declining codes, and 40 reference codes.
Market breadth over the last 20 sessions. Unit: Percentage
Source: VietstockFinance
In the trading session on 09/09/2025, sellers continued to lead the market, causing most of the warrant codes to decline in price. Specifically, the large-cap warrant codes in the declining group were CVHM2502, CVPB2514, CSTB2515, and CMBB2407.
Source: VietstockFinance
The total market volume in the 09/09 session reached 56.64 million CW, down 25.32%; the value of transactions reached VND 125.76 billion, down 36.42% compared to the previous session. Of which, CHPG2528 was the code leading the market in volume with 2.47 million CW; CMWG2511 led in value with VND 6.52 billion.
Foreign investors continued to sell a net in the 09/09 session with a total net selling volume of 3.65 million CW. In particular, CSTB2523 and CMSN2508 were the two codes that were net sold the most.
Securities companies SSI, ACBS, HCM, KIS, and VPBank 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 initial period of 10/09/2025, the reasonable prices of the warrants currently 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 warrant codes with the highest effective gearing ratios in the market.
Economic Analysis and Market Strategy Division, Vietstock Consulting Department
– 18:58 09/09/2025
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The market closed on September 8th, 2025, with a mixed performance. Out of all the stocks traded, only 21 ended in the green, while a staggering 205 declined, and 33 remained unchanged. Foreign investors continued their selling spree, offloading a net total of 3.52 million covered warrants.
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The market closed on September 5th, 2025, with a mixed performance. Out of all the stocks traded, 58 advanced, 179 declined, and 22 remained unchanged. Foreign investors turned net sellers, offloading a total of 491,300 shares.
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The market closed on September 4th, 2025, with a positive sentiment. A total of 173 stocks rose, while only 64 declined, and 22 remained unchanged. Foreign investors returned to net buying, with a total net purchase of 3.04 million CW.
