I. MARKET TRENDS IN WARRANTS
By the close of trading on October 2, 2025, the market recorded 79 gainers, 163 losers, and 41 unchanged securities.
Market Breadth Over the Last 20 Sessions. Unit: Percentage
Source: VietstockFinance
During the October 2, 2025 session, sellers regained control, driving most warrant prices downward. Notable decliners included CVIC2502, CVHM2502, CHPG2518, and CVPB2513.
Source: VietstockFinance
Total market volume on October 2 reached 49.69 million CW, down 7.05%; trading value hit VND 127.55 billion, a 11.51% decline from October 1. CHPG2533 led in volume with 2.54 million CW, while CSTB2515 topped trading value at VND 10.47 billion.
Foreign investors continued net selling on October 2, totaling 3.91 million CW. CSHB2512 and CHPG2526 saw the highest net outflows.
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 October 3, 2025, the fair prices of actively 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, adjusted for warrant maturities.
According to this valuation, CVIC2507 and CVIC2508 are the most attractively priced warrants.
Warrants with higher effective gearing exhibit greater volatility relative to their underlying securities. Currently, CVNM2512 and CVRE2514 have the highest effective gearing in the market.
Economic Analysis & Market Strategy Division, Vietstock Advisory Department
– 18:58 October 2, 2025
Market Pulse 02/10: Market Shifts, Liquidity Dips, Foreign Investors Continue Heavy Selling
After a promising start to the session, Vietnamese stock indices took a sharp downturn in the afternoon, weighed down by lackluster liquidity and persistent foreign selling pressure.
HSC Expert: Foreign Block Net Selling Amid Exchange Rate Concerns
Recently, foreign investors have consistently engaged in net selling on Vietnam’s stock market. According to experts at HSC Securities, this trend poses potential risks, primarily driven by concerns over exchange rate fluctuations.
Foreign Block Continues Net Selling Streak with VND 1.8 Trillion in Early October: Which Stocks Were Hit Hardest?
Foreign investors’ trading activity has been a notable drawback, as they engaged in substantial net selling across all three major exchanges.
Vietstock Daily 02/10/2025: Prolonged Accumulation Ahead?
The VN-Index continues to oscillate around the Middle Bollinger Band, forming a Doji candlestick pattern. Alternating sessions of gains and losses on low liquidity suggest the market is not yet primed for a breakout, indicating that sideways consolidation is likely to persist in the near term.
Foreign Investors Continue Selling Spree, Offloading Nearly VND 400 Billion in Real Estate Stocks on September 30th
In the afternoon session, CII and SHB emerged as the top net buyers in the market, with impressive purchase values of 90 billion VND and 82 billion VND, respectively.
