I. MARKET TRENDS IN WARRANTS
By the close of trading on September 24, 2025, the market saw 177 gainers, 36 losers, and 34 unchanged stocks.
Market Breadth Over the Last 20 Sessions. Unit: Percentage
Source: VietstockFinance
During the September 24, 2025 session, buyers dominated the market, driving most warrant prices higher. Notably, top gainers included CVIC2509, CVHM2502, CVPB2513, and CSTB2515.
Source: VietstockFinance
Total market volume on September 24 reached 43.3 million CW, down 20.87%; trading value hit VND 94.57 billion, a 15.51% decrease from September 23. CFPT2512 led in volume with 1.81 million CW, while CSTB2515 topped trading value at VND 6.56 billion.
Foreign investors returned to net buying on September 24, with a total net purchase of 703,300 CW. CMSN2517 and CHPG2526 were the most net-bought warrants.
Securities firms SSI, ACBS, HCM, KIS, and VPBankS currently issue the most warrants in the market.
Source: VietstockFinance
II. MARKET STATISTICS
Source: VietstockFinance
III. WARRANT VALUATION
Using a valuation method effective from September 25, 2025, the fair prices of traded warrants are as follows:
Source: VietstockFinance
Note: Opportunity costs in the valuation model are adjusted for the Vietnamese market. Specifically, the risk-free rate (government treasury bills) is replaced by the average deposit rate of major banks, with maturity adjustments for each warrant type.
According to this valuation, CVHM2515 and CVIC2508 are the most attractively priced warrants.
Warrants with higher effective gearing exhibit greater volatility relative to their underlying assets. Currently, CVNM2512 and CVNM2502 have the highest effective gearing in the market.
Economic Analysis & Market Strategy Division, Vietstock Advisory Department
– 18:58 24/09/2025
TFC Announces Record-Breaking Cash Dividend Payout
Trang Joint Stock Company (HNX: TFC) has announced a record-breaking cash dividend payout for 2024, marking the highest in the company’s history. Shareholders will receive a 20% cash dividend, equivalent to 2,000 VND per share. The ex-dividend date is set for September 30th.
September 24, 2025 Warrant Market: A Less Pessimistic Outlook
At the close of trading on September 23, 2025, the market saw 128 stocks rise, 78 decline, and 41 remain unchanged. Foreign investors continued their net selling streak, offloading a total of 3.02 million CW.
Market Warrants on 23/09/2025: Fiery Red Alongside the Underlying Market
As the trading session closed on September 22, 2025, the market witnessed a mixed performance with 18 stocks advancing, 210 declining, and 19 remaining unchanged. Foreign investors continued their net selling streak, offloading a total of 4.46 million CW units.
Foreign Investors’ Heaviest Net Selling Week in 2025: Warrants Market Overview for September 22-26, 2025
As the trading session closed on September 19, 2025, the market witnessed 73 stocks advancing, 150 declining, and 24 remaining unchanged. Foreign investors continued their net selling streak, offloading a total of 5.18 million CW.
Today’s Crypto Market, September 19: What Lies Ahead?
Some experts predict that Bitcoin’s price could retrace to the $113,000–$114,000 range before resuming its upward trajectory.
