I. MARKET DEVELOPMENT OF WARRANTS
At the close of the trading session on 09/11/2025, the market witnessed 175 advancing codes, 59 declining codes, and 25 reference codes.
Market breadth over the last 20 sessions. Unit: Percentage
Source: VietstockFinance
During the trading session on 09/11/2025, buyers returned 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 CVIC2502, CVHM2502, CSTB2515, and CMWG2511.
Source: VietstockFinance
The total trading volume in the market in the 09/11 session reached 67.01 million CWs, up 32.73%; the trading value reached VND 163.15 billion, up 28.4% compared to the previous session. Of which, CMWG2511 was the code leading the market in terms of volume and value, with a total volume of 3.88 million CWs, equivalent to a value of VND 12.08 billion.
Foreigners continued to sell a net in the 09/11 session with a total net selling volume of 2.34 million CWs. In particular, CSTB2522 and CSTB2523 were the two codes that were net sold the most.
Securities companies SSI, ACBS, HCM, KIS, 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 09/12/2025, 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.
Economics & Market Strategy Analysis Department, Vietstock Consulting Department
– 18:58 09/11/2025
Market Review: A Tale of Two Directions
The market closed on September 9th, 2025, with a diverse performance. Out of all the stocks traded, 75 advanced, 144 declined, and 40 remained unchanged. Foreign investors continued their net-selling trend, offloading a total of 3.65 million covered warrants.
VPB Contracts Bear the Brunt of Selling Pressure in the Warrant Market on September 9, 2025.
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.
Stock Market Warrants: Navigating a Negative Outlook Week of September 8-12, 2025
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.
Steel Stocks Continue to Soar
The HPG, HSG, NKG, and TLH stock series witnessed an unprecedented surge in liquidity, skyrocketing in the trading session on September 4th.
What were the Top-Performing Stocks on HOSE in August?
The Vietnamese stock market has witnessed a bustling month, with the VN-Index surging over 180 points to a record high of more than 1,680 points. As the market soars, one can’t help but wonder, which stocks have been the top performers during this exhilarating rally?
