I. MARKET DYNAMICS OF WARRANTS
By the close of the trading session on January 7, 2026, the market recorded 178 advancing issues, 59 declining issues, and 21 unchanged issues.
Market Breadth Over the Last 20 Sessions. Unit: Percentage
Source: VietstockFinance
During the January 7, 2026 trading session, buyers continued to dominate the market, driving most warrant prices higher. Notably, the top gainers among warrants were CVHM2511, CVPB2513, CMBB2511, and CMWG2511.
Source: VietstockFinance
Total market volume on January 7 reached 62.51 million warrants, up 20.69%; trading value hit 116.9 billion VND, a 15.26% increase compared to January 6. CSTB2529 led in volume with 4.98 million warrants, while CSTB2521 topped in trading value at 9.5 billion VND.
Foreign investors continued net selling on January 7, totaling 367.7 million VND. CSTB2529 and CMWG2515 were the most heavily net-sold warrants.
Securities firms HCM, SSI, KIS, and ACBS are currently the leading issuers with the most warrants in the market.
Source: VietstockFinance
II. MARKET STATISTICS
Source: VietstockFinance
III. WARRANT VALUATION
Based on the valuation method applicable as of January 8, 2026, the fair prices of warrants currently trading in the market are as follows:
Source: VietstockFinance
Note: Opportunity costs in the valuation model have been adjusted to align with 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 the valuation, CVIC2509 and CVHM2510 are currently the most attractively priced warrants.
Warrants with higher effective gearing exhibit greater volatility in response to underlying stock movements. Currently, CFPT2516 and CVNM2510 have the highest effective gearing ratios in the market.
Economic Analysis & Market Strategy Division, Vietstock Advisory Department
– 18:58 January 7, 2026
Vietnam’s Warrant Market on January 7, 2026: VHM Warrants Take Center Stage
As the trading session closed on January 6, 2026, the market witnessed 155 stocks advancing, 77 declining, and 26 remaining unchanged. Foreign investors continued their net selling streak, offloading a total of VND 921.44 million worth of shares.
January 6, 2026: Short-Term Outlook Deteriorates for Warrant Market
At the close of trading on January 5, 2026, the market saw 65 stocks rise, 174 decline, and 19 remain unchanged. Foreign investors resumed net selling, with a total net sell-off of 93.5 million VND.
December 31, 2025: Warrant Market Shows Mixed Performance
As the trading session closed on December 30, 2025, the market witnessed 121 stocks advancing, 112 declining, and 26 remaining unchanged. Foreign investors continued their net selling streak, offloading a total of 1.01 billion VND.
December 30, 2025: A Mixed Bag of Green and Red in the Warrant Market
As the trading session closed on December 29, 2025, the market witnessed 116 stocks advancing, 109 declining, and 34 remaining unchanged. Foreign investors continued their net selling streak, offloading a total of VND 4.37 billion worth of shares.
Market Warrant Trading Week of December 29–31, 2025: Total Trading Volume Surges Over 30%
As the trading session closed on December 26, 2025, the market witnessed a mixed performance with 61 stocks advancing, 175 declining, and 23 remaining unchanged. Foreign investors continued their net selling streak, offloading a total of VND 2.98 billion worth of shares.
