I. FUTURES CONTRACTS OF THE STOCK MARKET INDEX
I.1. Market Trends
On January 12, 2026, VN30 futures contracts experienced a unanimous uptrend. Specifically, 41I1G1000 (I1G1000) rose by 0.88% to 2,079.7 points; 41I1G2000 (I1G2000) increased by 0.67% to 2,074.8 points; 41I1G3000 (I1G3000) gained 0.4% to 2,063.4 points; and 41I1G6000 (I1G6000) climbed 0.52% to 2,070 points. The underlying index, VN30-Index, closed at 2,080.24 points.
Similarly, VN100 futures contracts also saw a collective rise. The 41I2G1000 (I2G1000) contract surged by 1.16% to 1,956.7 points; 41I2G2000 (I2G2000) advanced 0.46% to 1,949 points; 41I2G3000 (I2G3000) rose 0.24% to 1,954.5 points; and 41I2G6000 (I2G6000) increased by 0.62% to 1,941.9 points. The VN100-Index closed at 1,961.77 points.
During the January 12, 2026 session, the 41I1G1000 contract opened with prolonged sideways movement, with the Long side gaining slight dominance, keeping the contract above the reference level throughout the morning session. In the afternoon, the sideways trend persisted, preventing a significant breakout, and the contract closed in the green at 2,079.7 points.
Intraday Chart of 41I1G1000
Source: https://stockchart.vietstock.vn
At the close, the basis of the I1G1000 contract narrowed compared to the previous session, reaching -0.54 points, indicating a less pessimistic sentiment among investors.
Fluctuations of 41I1G1000 and VN30-Index
Source: VietstockFinance
Note: Basis is calculated as: Basis = Futures Contract Price – VN30-Index
Meanwhile, the basis of the I2G1000 contract also narrowed to -5.07 points, reflecting a similar reduction in investor pessimism.
Fluctuations of 41I2G1000 and VN100-Index
Source: VietstockFinance
Note: Basis is calculated as: Basis = Futures Contract Price – VN100-Index
Trading volume and value in the derivatives market decreased by 0.12% and 0.43%, respectively, compared to the January 9, 2026 session. Specifically, the trading volume of I1G1000 fell by 0.77% to 324,567 contracts, while I2G1000 volume dropped by 7.69% to 36 contracts.
Foreign investors returned to net buying, with a total net purchase volume of 1,865 contracts on January 12, 2026.
Daily Trading Volume Fluctuations in the Derivatives Market. Unit: Contracts
Source: VietstockFinance
I.2. Valuation of Futures Contracts
Based on the fair pricing method as of January 13, 2026, the reasonable price range for actively traded futures contracts is as follows:
Summary Table of Derivatives Valuation for VN30-Index and VN100-Index
Source: VietstockFinance
Note: Opportunity costs in the pricing model are adjusted to suit the Vietnamese market. Specifically, the risk-free rate (government treasury bills) is replaced by the average deposit rate of major banks, with term adjustments for each futures contract.
I.3. Technical Analysis of VN30-Index
On January 12, 2026, the VN30-Index rose, accompanied by a small-bodied candlestick pattern and increased trading volume above the 20-session average, indicating investor hesitation. The MACD indicator continued its upward trend after a buy signal, and the index remained above the Bollinger Bands’ middle line, suggesting a positive medium-term outlook.
However, the Stochastic Oscillator entered the overbought zone and generated a sell signal. If it continues to decline and exits this zone in upcoming sessions, short-term correction risks will increase.
Technical Analysis Chart of VN30-Index
Source: VietstockUpdater
II. FUTURES CONTRACTS OF THE BOND MARKET
Based on the fair pricing method as of January 13, 2026, the reasonable price range for actively traded government bond futures contracts is as follows:
Summary Table of Government Bond Futures Valuation
Source: VietstockFinance
Note: Opportunity costs in the pricing model are adjusted to suit the Vietnamese market. Specifically, the risk-free rate (government treasury bills) is replaced by the average deposit rate of major banks, with term adjustments for each futures contract.
According to the above valuation, contracts 41B5G3000, 41B5G6000, 41B5G9000, 41BAG3000, 41BAG6000, and 41BAG9000 are currently attractively priced. Investors should focus on these contracts for potential buying opportunities in the near term, as they offer favorable market prices.
Economic Analysis & Market Strategy Department, Vietstock Consulting
– 18:28 12/01/2026
Derivatives Market Outlook for the Week of January 12-16, 2026: Anticipating a Tug-of-War in Market Dynamics
On January 9, 2026, futures contracts for the VN30 and VN100 indices predominantly closed lower. The VN30-Index exhibited a tug-of-war pattern, forming a small-bodied candlestick with trading volume surpassing its 20-session average.
Technical Analysis for the Afternoon Session of January 9th: Intense Tug-of-War
The VN-Index experienced intense volatility, forming an Inverted Hammer candlestick pattern, signaling heightened selling pressure following a prior streak of consecutive gains. Meanwhile, the HNX-Index underwent a mild correction as it approached the upper boundary of a Falling Wedge formation.
Derivatives Market Update 09/01/2026: Mixed Signals Emerge
On January 8, 2026, futures contracts for the VN30 and VN100 indices predominantly closed in negative territory. The VN30-Index reversed its trend, forming a Big Black Candle pattern accompanied by above-average trading volume over the past 20 sessions, signaling a cautious sentiment among investors.
Derivatives Market on January 8, 2026: Optimistic Sentiment Spreads Across the Market
On January 7, 2026, both VN30 and VN100 futures contracts surged in a robust trading session. The VN30-Index extended its gains, supported by consistently rising trading volumes that exceeded the 20-session average, reflecting sustained investor optimism.
Derivatives Market on January 7, 2026: Bulls Take the Crown
On January 6, 2026, both the VN30 and VN100 futures contracts surged in a robust trading session. The VN30-Index climbed higher, accompanied by trading volumes that exceeded the 20-session average, reflecting a bullish sentiment among investors.
