Before April 30 Holiday: Fed, Big Tech and the May 4 Open
Vietnam's market closes for four days, while the FOMC decision and Big Tech Q1 earnings land right in the middle of the break. Two sessions on Apr 28-29 are the only window to adjust positions.
KOSPI 6,599, Nikkei 60,000: Why VN-Index Is Not Part of This Rally
KOSPI surged 20.9% in a single month, Nikkei cleared 60,000 for the first time — all driven by the same HBM supply chain dynamics. Vietnam's benchmark, stuck near 1,853, is structurally absent from this AI cycle.
BHX at 2,839 Stores: Back Past the 2022 Peak on Solid Ground
MWG reports its highest quarterly profit on record while Bach Hoa Xanh surpasses the 2022 peak of 2,140 stores. This time, the expansion comes from a fundamentally different foundation.
BIDV's VND 3.7T Bond: 7.7% Yield, Subordinated, No Deposit Insurance
BIDV just opened registration for its second tranche of public bonds — VND 3,698 billion at roughly 7.7% p.a. to start, a 1.8pp spread over its own savings rate. But that premium comes at a price: three protections that savings depositors take for granted.
Steel Consumption Up 29%, Coated Steel Profits Down 92%
Vietnam's steel sector logged its strongest consumption quarter in a decade in Q1/2026 — but the aggregate figure masks a stark earnings split between HPG and the export-oriented coated steel makers NKG and HSG.
Sell in May and Vietnam's Real May 2026 Risk Factors
VN-Index has risen in May 5 out of the past 8 years, averaging +2.89%. The old adage falls flat against the data. Three specific variables make May 2026 worth watching closely.
VNDAF Returns 15.85%: Portfolio Concentration as Edge and Risk
In the first four months of 2026, VNDAF returned 15.85%, more than four times the VN-Index. The mechanism behind it isn't exceptional stock-picking — it's portfolio concentration, and the trade-offs that come with it.
MSB Holds TNEX, Kredivo Buys Out Timo on the Same Day
On 25 April, Vietnam's digital banking landscape was repriced through two opposing models on a single day: MSB kept TNEX Finance with a USD 1-2 billion target over five to seven years, while Indonesia's Kredivo took 100% of Timo. Two concrete benchmarks now frame the sector for retail investors.
Sabeco's 50% dividend: four criteria for a cash-dividend portfolio
12-month Big4 deposits minus CPI leave only 1.25 points of real yield for Vietnamese savers. With Sabeco just confirming a 50% face-value cash dividend for 2025, the dividend portfolio is back on the table — but only if you screen with a framework first.
Vietnam's crypto framework: 0.1% tax, exchanges in Q3/2026
In seven months, Vietnam stitched together three pieces of crypto-asset regulation: a 5-year pilot, a personal tax of 0.1% (identical to listed equity), and five shortlisted exchange licenses. This is how the government plans to bring 17 million crypto users onto a supervised track.
TCB trades 5,000bn VND of profit a year for safety margin
Techcombank just lifted charter capital to VND 113,738bn — the highest in the system — and reiterated its $20B market cap target. The core question: is the foregone profit enough to win a re-rating from the market?
5.9% deposit rate vs 4.65% CPI: real yield down to 1.25 pp
Household deposits hit a record VND 7.83 quadrillion just as the real-rate spread at Vietnam's Big4 banks compressed to a mere 1.25 percentage points. Six years of Vietnamese saving have closed one full cycle — and today's product menu is far wider than 2020's.