MBS Securities posted third-quarter 2026 operating revenue of nearly VND 1,453 billion, up 25% year on year, driven by a 145% rise in fair value through profit or loss (FVTPL) income to VND 593 billion. Brokerage revenue fell more than 65% to about VND 128 billion, while operating expenses rose 54% to nearly VND 631 billion, including FVTPL losses that climbed from VND 81 billion to VND 481 billion. Quarterly pre-tax profit was VND 394 billion, down 6%, while nine-month pre-tax profit rose 11% to nearly VND 1,140 billion. As of September 30, 2026, margin lending balances stood at over VND 16,510 billion, down VND 132 billion from the end of the second quarter.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Chứng khoán MBS báo lãi quý 3 sụt giảm so với cùng kỳ, dư nợ margin hơn 16.500 tỷ đồng
Related news
- Think Rates Are Peaking ? Consider Mortgage - Backed Securities
The article argues that agency mortgage-backed securities (MBS) may deserve a place in fixed-income portfolios, potentially offering more yield than Treasuries with essentially no credit risk, especially if rates are near a peak. Freddie Mac put the average 30-year fixed mortgage rate at 7.28% as of October 1, the highest since November 2023 and up from 6.34% a year earlier. With nearly 80% of homeowners holding rates below 6%, refinancing has largely stopped, the MBA's refinance index is more than 50% below a year ago, and MBS durations have little room to extend further. The article explains that MBS duration shifts with rates, lengthening when yields rise and shortening when they fall, a pattern known as negative convexity that can magnify losses as rates climb. It also notes that the prepayment option embedded in MBS accounts for much of their extra yield over Treasuries, and that extension risk has largely run its course since the 2022–2023 period.
- Stocks slip as dollar heads for weekly loss
Global stocks slipped modestly on Friday as markets steadied after a tech-led selloff, with the S&P 500 down 1.09%, the Nasdaq Composite down 2.1%, and the Dow down 0.34%, while European indexes gained, with the STOXX 600 up 0.72%. Investor worries over higher interest rates and debt-funded AI infrastructure drove the tech and chip selloff during the week, and CoreWeave lost about 25% this week. The dollar index fell 0.26% and was on track for its first weekly decline after four weeks of gains. Elsewhere, Indonesian equities suffered their biggest drop since 1998 after MSCI said the country no longer merited emerging-market status, while Brent crude rose 3.72% to settle at $109.86 a barrel.
- The Stock Market Hasn't Been This Expensive in Decades. Should Investors Prepare for a Crash?
The S&P 500 is up over 91% since its trough on October 12, 2022, and its Shiller P/E ratio reached 40.7 in early October, the highest since the dot-com bubble. The article notes that market crashes are a normal part of the cycle: the COVID-19 crash lasted 33 days with a drop of about 34%, while the dot-com crash lasted around 929 days. Trying to time the market is a gamble, and missing just 10 of the best days from 1995 to the end of 2025 cut average annual returns from 10.3% to 7.4%, turning $10,000 into $85,491 instead of $192,168. The author concludes that investors should stay consistent, keep a cash cushion, and avoid stressing over when a crash will happen.
- Derivatives Market on 14/10/2026: Liquidity Continues to Decline!
- High margin debt , weak liquidity put pressure on stock market recovery
Liquidity in Vietnam's stock market fell below VNĐ15 trillion (US$579 million) per session in September, despite the FTSE Russell upgrade to secondary emerging-market status. SGI Capital warns that high margin lending, weak liquidity and rising deposit rates could push more investors out of stocks and trigger a cycle of margin calls if prices keep falling. Once collateral values drop below required thresholds, brokers may demand more collateral or force-sell holdings, which adds supply and pushes prices lower. Foreign investors have resumed net selling since the start of the year, while listed firms continue to need substantial new capital. The impact depends on the composition of margin debt, collateral ratios and investors' ability to add funds, and the fourth quarter typically brings higher liquidity demand.
- North American Morning Briefing : Stock Futures Higher After Rate - Hike Fears Ebb
Stock futures rose after Fed Chair Kevin Warsh avoided hinting at an October rate move, which markets read as less hawkish. AI stocks stayed fragile, with CoreWeave down 4% premarket as its high borrowing costs weighed, while oil prices fell as traders assessed inventory data. Among stocks to watch, Alcoa rose more than 2% after higher profit and revenue, J.B. Hunt fell 1.3% despite beating expectations, and Tesla climbed nearly 5% after unveiling its second-generation Roadster. The report also covers Netflix replacing its chief content officer and Proofpoint agreeing to buy Varonis for about $6.3 billion, at $49.75 a share in cash.
Related markets
Latest news
- Meta Earnings: What To Look For From META
Meta Platforms (NASDAQ:META) will report earnings this Wednesday after the market closes. Last quarter, revenue reached $60.8 billion, up 28% year on year and above analysts' expectations, though revenue guidance for next quarter slightly missed forecasts; daily active users hit 3.6 billion, up 3.4%. The market expects revenue growth of 23.6% this quarter, slowing from 26.2% a year earlier, and analysts have generally reconfirmed their estimates over the past 30 days. Over the last month, consumer internet stocks have gained 1.3% on average, while Meta is down 4.8%.
- An AI bust could come from places investors arent watching , an economist says
Concerns about an AI bubble are growing, and TS Lombard's Dario Perkins warns that investors may be overlooking other risks. Debt among smaller cloud providers, model developers and suppliers could reach $2 trillion by the end of 2027. Perkins does not see this as a systemic risk, but warns that earnings disappointments and canceled orders could ripple through the ecosystem, and that a chip glut could follow over-ordering. Much of the industry's revenue growth still comes from spending within the AI ecosystem rather than from businesses and consumers outside it. He also flags political backlash, noting that ordinary people dislike AI and nearby datacenters, and warns that one high-profile accident could turn AI toxic.
- Yen jumps after JGB auction draws big demand , euro finds relief
The yen rose 0.2% to 158.15 per dollar in Asian trading after a 20-year Japanese government bond auction drew bids of 5.84 times the amount sold, well above the 4.01 times at the previous auction, and the yield fell 6 basis points to 3.71%. A State Street strategist said the record demand suggests sidelined cash is returning and that JGBs are becoming a relative haven from political and fiscal volatility in Europe, particularly France. Anti-government protests in France prompted curfews in several cities, while Italy said it would send 500 troops after two days of unrest, and the euro rallied 0.2% to $1.1234. Elsewhere, bitcoin slipped 0.3% to $81,674.25 and ether edged down 0.2% to $2,393.21.
- Unemployment rate dips to 4 . 7 % - but vacancies hit five - year low
Vacancies fell by 21,000 to 691,000 in the three months to September, the biggest drop since the three months to March and the lowest since July to September 2014 outside the pandemic, while unemployment dipped in the three months to August. Payroll numbers were down 66,000 over the year to September. The ONS said the fall was mainly among smaller firms struggling with higher labour costs, following rises in employer national insurance, the minimum wage and workers' rights. A CBI survey found labour costs and regulations were making it harder to create jobs, and firms urged the Chancellor not to add to their burden in the October 28 Budget. ICAEW's Suren Thiru said the labour market is 'running on idle' and unemployment could climb above 5 per cent, while Shadow Chancellor Andrew Griffith blamed Labour's 'Jobs Tax' and red tape.
- CNBC Daily Open: Tech rebounds in the U.S., but Asia isn’t buying it yet
U.S. tech stocks rebounded as the Nasdaq Composite rose more than 1% on Monday, with Nvidia up 1.4% and Tesla up 3.8%. In Asia, however, tech shares fell on Tuesday, with South Korea's Kospi down over 4% and Japan's Nikkei 225 down 1.6%. Nvidia also unveiled plans to back four German AI startups as part of its nearly $10 billion European investment commitment. Jenny Lee of Granite Asia said Asian companies are reaching IPOs much sooner, often at four to five years old, while Jio Platforms' Indian IPO saw its anchor investor quota oversubscribed more than 30 times, aiming to raise up to 302 billion rupees ($3.2 billion). In Singapore, several agricultural stocks fell after Senior Minister K Shanmugam warned that companies would not escape responsibility for possible roles in the haze, noting seven firms had been questioned by the Singapore Exchange.
- NiSource (NI) Stock Looks Overvalued Against Its Dividend Outlook
NiSource has nearly doubled shareholders' money over the past five years, delivering a 97.6% total return, which raises the question of whether dividends can justify the current share price. The article highlights a new 20-year energy agreement with Microsoft, including customer-funded grid upgrades and long-term electric service for data centers, which may affect future capital needs and cash-flow visibility. Using a Dividend Discount Model with inputs of about $1.35 dividend per share, roughly 9.07% return on equity, a payout ratio slightly above 61%, and implied dividend growth of about 3.5%, the estimated intrinsic value sits meaningfully below the current share price of $41.95. The model still does not bridge that gap, suggesting income investors are paying a premium for a relatively steady payout with modest assumed growth.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.