Markets

October 16, 2025: Foreign Investors Continue Net Selling in Warrant Market

At the close of trading on October 15, 2025, the market saw 105 stocks rise, 126 fall, and 33 remain unchanged. Foreign investors continued their net selling streak, offloading a total of 2.6 million CW.

Administrator

19 October, 2025

I. MARKET TRENDS IN WARRANTS

By the close of trading on October 15, 2025, the market recorded 105 advancing stocks, 126 declining stocks, and 33 unchanged stocks.

Market Breadth Over the Last 20 Sessions. Unit: Percentage

Source: VietstockFinance

During the October 15, 2025 session, sellers dominated the market, driving down the prices of most warrant codes. Notably, the major warrant codes in the declining group were CVIC2509, CVHM2502, CTCB2507, and CLPB2503.

Source: VietstockFinance

Total market volume on October 15 reached 50.08 million CW, down 35.38%; trading value hit 121.48 billion VND, down 49.32% compared to the October 14 session. Among these, CFPT2512 led the market in volume with 1.61 million CW, while CVHM2514 topped trading value at 4.7 billion VND.

Foreign investors continued net selling in the October 15 session, totaling 2.6 million CW. CVNM2518 and CMSN2509 were the two most heavily net-sold codes.

Securities companies SSI, ACBS, KIS, HCM, and VPBankS are currently the issuers with the most warrant codes in the market.

Source: VietstockFinance

II. MARKET STATISTICS

Source: VietstockFinance

III. WARRANT VALUATION

Based on the valuation method appropriate as of the starting date of October 16, 2025, 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 treasury bill rate (government treasury bill) is replaced by the average deposit rate of major banks, with maturity adjustments suitable for each type of warrant.

According to the above valuation, CVIC2507 and CVIC2508 are currently the two most attractively priced warrant codes.

Warrant codes with higher effective gearing will experience greater volatility in response to underlying stock movements. Currently, CVNM2502 and CMSN2507 are the two warrant codes with the highest effective gearing in the market.

Economic Analysis & Market Strategy Division, Vietstock Consulting Department

– 18:58 15/10/2025