I. MARKET DYNAMICS OF WARRANTS
By the close of trading on October 8, 2025, the market recorded 172 advancing issues, 54 declining issues, and 52 unchanged issues.
Market Breadth Over the Last 20 Sessions. Unit: Percentage
Source: VietstockFinance
During the October 8, 2025 session, buyers regained control, driving prices higher for most warrant codes. Notably, the top gainers included CVHM2502, CVPB2513, CVIC2509, and CSTB2515.
Source: VietstockFinance
Total market volume on October 8 reached 56.88 million CW, up 9.45%; trading value hit VND 155.13 billion, a 14.85% increase from October 7. CVHM2513 led the market in both volume and value, with 3.32 million CW traded, equivalent to VND 19.32 billion.
Foreign investors turned net buyers on October 8, with a total net purchase of 98,300 CW. CVNM2518 and CSTB2518 were the most heavily 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 October 9, 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, with maturity adjustments for each warrant type.
According to this valuation, CVIC2507 and CVRE2515 are the most attractively priced warrants.
Warrants with higher effective gearing exhibit greater volatility relative to their underlying assets. Currently, CVNM2502 and CVNM2512 have the highest effective gearing ratios in the market.
Economic Analysis & Market Strategy Division, Vietstock Advisory Department
– 18:58 October 8, 2025
TTT Sustains 5 Consecutive Years of 20% Cash Dividend Payouts
Tay Ninh Tourism and Trading Joint Stock Company (HNX: TTT) has announced the finalization of its shareholder list for the 2024 cash dividend distribution. Shareholders will receive a 20% dividend, equivalent to VND 2,000 per share. The ex-dividend date is set for October 28, with the payment expected to commence on November 25.
October 8, 2025: Banking Warrant Market Plunges into the Red
At the close of trading on October 7, 2025, the market saw 88 stocks rise, 150 decline, and 44 remain unchanged. Foreign investors resumed net selling, with a total net sell-off of 177,300 CW.
October 7, 2025: Warrant Market Rallies Alongside Underlying Market
At the close of trading on October 6, 2025, the market saw 230 stocks rise, 22 decline, and 30 remain unchanged. Foreign investors returned to net buying, with a total net purchase of 113,700 CW.
Market Outlook for Warrant Trading Week of October 6–10, 2025: Pessimism Continues to Rise
At the close of trading on October 3, 2025, the market saw 66 stocks rise, 176 fall, and 40 remain unchanged. Foreign investors continued their net selling streak, offloading a total of 1.23 million CW.
October 3, 2025: Foreign Investors Continue Net Selling in Warrant Market
At the close of trading on October 2, 2025, the market saw 79 stocks rise, 163 fall, and 41 remain unchanged. Foreign investors continued their net selling streak, offloading a total of 3.91 million CW.
