VN-Index up 1.08%, yet 177 HOSE stocks fell
In the September 4 morning session, VN-Index gained more than 19 points while decliners still outnumbered advancers on HOSE. The two numbers measure different things, and understanding how VN-Index is calculated helps you read the board correctly.
VNX Puts a Spotlight on 15 Minutes of Trading on Sept 18
VNX has issued tightened surveillance rules for FTSE Russell rebalancing periods, carving out a dedicated watch group for the closing auction on September 18, three days before the upgrade officially takes effect.
GPT-6 Astra: Top Risk Rating, OpenAI Guards Its Own Door
OpenAI rated its newest model at the highest cyber risk tier in its own internal framework, then shipped it two days later. The only barrier between that capability and the outside world is a vetting process the company runs itself.
PNJ Posts Record Loss of VND 283bn, Revenue Still Up 12%
PNJ swung to a net loss of nearly VND 283 billion in Q2 2026, its deepest quarterly loss since listing in 2009. The cause was an VND 865 billion provision for a diamond buyback wave, not weaker sales. Three upcoming checkpoints will decide how much risk remains.
Bank Bonds at 10%, Bông Sen at 10.5%: Two Outcomes
At nearly the same coupon rate around 10% a year, a Sacombank bond just started trading while a Bông Sen bond is still sitting on VND 3,009 billion in unpaid interest. The headline rate is not the risk signal investors think it is.
PVFCCo hits 192% of plan: real growth is 116%
PVFCCo (DPM) says it has hit 192% of its full-year profit plan in just six months, but that plan was set 37% below the prior year's result when shareholders approved it. Real growth is 116.1%, driven by a urea price cycle the company doesn't control.
Vietnam PMI Hits 53.3, But Export Orders Reverse
Vietnam's manufacturing PMI climbed to 53.3 in August, the strongest improvement since February. But new export orders and employment both turned negative, with domestic demand and factory efficiency picking up the slack.
Same $230M Gap, Broadcom Falls While Snowflake Soars
Broadcom posted a record quarter but fell 5% after hours, while much smaller Snowflake jumped more than 22%. Both moves trace back to the same $230 million guidance gap, just in opposite directions.
Crypto Exchanges: Capital Was Never the Bottleneck
CAEX raised its full VND 10 trillion in April, yet by early September no Vietnamese crypto exchange has been licensed. The real bottleneck is IT security certification and operating procedures, not registered capital.
Condotel Gridlock: The Math Was Broken, Not the Law
Nearly 150,000 resort real estate units are stuck in legal limbo across Vietnam, even though the legal framework was opened back in May 2026. The real problem was never the title deed. It was a profit-commitment formula that never added up from the day contracts were signed.
Samsung isn't borrowing a dollar for its $4.08B chip plant
An environmental permit filing from Samsung Vietnam Semiconductor reveals a 1,612-machine equipment list and the capital structure behind its $4.08 billion memory chip plant in Thái Nguyên: over 60% comes from profit that hasn't been earned yet, and none from bank loans.
Vietnam Stocks Reopen Sep 3: What's Priced In, What Isn't
Brent crude jumped 9.52% over a three-session holiday window as US-Iran tensions flared around the Strait of Hormuz, while Vietnam's market stayed frozen at its August 28 close. The big picture for the September 3 reopen comes down to separating what the market has already priced in from what it hasn't.