I. MARKET TRENDS IN WARRANTS
By the close of trading on November 27, 2025, the market saw 119 advancing issues, 132 declining issues, and 37 unchanged issues.
Market Breadth Over the Last 20 Sessions. Unit: Percentage
Source: VietstockFinance
During the November 27, 2025 session, the market experienced mixed movements, with sellers gaining a slight edge, leading to price declines in most warrant codes. Notably, the major warrant codes in the declining group were CSTB2515, CLBP2503, CVRE2511, and CHPG2518.
Source: VietstockFinance
Total market volume on November 27 reached 42.79 million CW, down 3.52%; trading value hit 77.39 billion VND, down 7.58% compared to the November 26 session. Among these, CFPT2511 led the market in volume with 2.55 million CW; CVIC2509 topped trading value at 6.26 billion VND.
Foreign investors resumed net selling on November 27, with a total net sell-off of 3.04 billion VND. CHPG2518 and CVNM2511 were the two most heavily net-sold codes.
Securities companies SSI, ACBS, VND, and HCM 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 November 28, 2025, the fair prices of warrants currently trading in the market are as follows:
Source: VietstockFinance
Note: The opportunity cost in the valuation model has been adjusted to suit 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 appropriate for each type of warrant.
According to the above valuation, CVRE2515 and CVJC2506 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, CHPG2526 and CVIB2509 are the two warrant codes with the highest effective gearing in the market.
Economic Analysis & Market Strategy Division, Vietstock Consulting Department
– 18:58 27/11/2025
November 27, 2025: Foreign Investors Return to Net Buying in Warrant Market
As the trading session closed on November 26, 2025, the market witnessed 186 stocks advancing, 63 declining, and 39 remaining unchanged. Foreign investors returned to net buying, with a total net purchase value of VND 676.73 million.
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As the trading session closed on November 25, 2025, the market witnessed a mixed performance with 31 stocks advancing, 231 declining, and 26 remaining unchanged. Foreign investors continued their net selling streak, offloading a total of VND 808.11 million worth of shares.
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As the trading session closed on November 24, 2025, the market witnessed 155 stocks advancing, 107 declining, and 26 remaining unchanged. Foreign investors continued their net selling streak, with a total net outflow of 4.53 billion VND.
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In this context, investors are advised to trade cautiously, steering clear of FOMO-driven impulses, and instead focus on observation to make informed decisions.
