The Q3 2026 earnings season gives investors a basis to test expectations, but rising profit does not necessarily lift share prices, since good news may already be priced in. According to MBS strategy research, VN-Index has undergone a prolonged correction amid weakening liquidity, and earnings results are likely to affect individual stocks more than the whole market. The article says investors need to ask where profit comes from, whether growth drivers will continue, and whether the current price is appropriate. Sectors to watch at year-end include banks, construction materials, rubber and seaports, with MBS Research estimating Q3 profit of tracked banks up 17% year on year. Named stocks include VCB, VPB, TCB, HPG, GVR, TRC, GMD and PHP.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Đầu tư cuối năm: Chọn cổ phiếu từ kỳ vọng hay kết quả kinh doanh?
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/28/2026 | 1,766.65 |
| Change that session | +0.27% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- Deputy PM: Financial centre aims for member bank in November
At a meeting with the first 10 member holding companies, Deputy Prime Minister Nguyen Van Thang asked the HCMC International Financial Centre (VIFC-HCMC) to speed up its legal framework, licensing procedures and operating conditions, and aim for actual transactions and a member bank in November. The 10 members registered and committed charter capital totaling 33.63 million USD, with the centre targeting about 2.7 billion USD in capital to be raised and invested by 2027 and a cumulative 3 billion USD by 2030. Membership does not replace specialized licences for conditional business activities, and licensing and supervision processes are still being completed. HCMC rose 17 places, to 67th, in the Global Financial Centres Index by Z/Yen Partners and the Center for Development of China (CDI).
- Vietstock Daily 29/10/2026: Need more momentum?
VN-Index rose 0.27% to 1,766.65 points in the October 28, 2026 session, while HNX gained 0.14% to 259.86 points; HOSE trading volume rose 9.3% but stayed below its 20-session average. Foreign investors net sold over VND 267 billion on HOSE but net bought over VND 15 billion on HNX. Banks such as HDB (+3.86%) and VCB (+2.5%) supported the index, while FPT (-2.53%) faced the heaviest selling in the IT sector. On technicals, the Stochastic Oscillator and MACD still point upward, but the index needs to clear the 50-day SMA with improving liquidity; on HNX-Index, the gap between the 50-day and 200-day SMAs is narrowing, and a Death Cross would make the outlook weaker.
- Market Pulse, 28/10: Stocks Fluctuate Around Reference Level as Sectors Diverge Clearly
At the midday break, VN-Index stood at 1,762.31 points and HNX-Index at 259.57 points, both hovering near the reference level. Market breadth tilted toward sellers, with 309 stocks declining and 250 advancing. VCB was the most positive contributor to the index at 1.76 points, while VHM, VPB and VIC together pulled it down by 1.57 points. Foreign investors net sold VND 263.79 billion across all three exchanges, mainly FPT (VND 125.6 billion) and VPL (VND 64.49 billion), while TCB led net buying at VND 65.79 billion.
- Vietstock Daily 27/10/2026: Caution Returns?
In the 26/10/2026 session, major indices fell across the board: VN-Index dropped 0.6% to 1,763.55 points and HNX-Index fell 1.29% to 259.32 points, after a strong recovery the previous week. Trading volume on HOSE fell 19% to nearly 519 million units, while foreign investors were net sellers of over VND 892 billion on the exchange. Banks exerted the greatest pressure, accounting for 8 of the top 10 stocks with the most negative impact and removing nearly 6 points from VN-Index; VN30-Index lost 17.56 points (-0.92%). Technically, VN-Index retested its 50-day SMA on volume below its 20-day average, while MACD kept its upward momentum after crossing above the signal line; HNX-Index is retesting the middle line of its Bollinger Bands and oscillating sideways.
- Banks agree to inject 230 trillion VND into businesses and projects: Which names are worth watching?
At the 23 October 2026 conference organised by the State Bank of Vietnam and the HCMC People's Committee, banks and businesses signed 20 cooperation agreements worth about 230 trillion VND in total. The projects span manufacturing, energy, pharmaceuticals, transport infrastructure, industrial parks and social housing. Notable deals include BIDV and VietinBank co-financing PTSC's EPIC 1 package for the Maydan Mahzam field redevelopment, worth 2.8 billion USD, and Agribank financing 4,867 billion VND for an expressway section of HCMC's Ring Road 4. Vietcombank is providing 1,113 billion VND for Becamex's social housing projects, ACB 500 billion VND for Central Medicinal Materials JSC 2, and HDBank and Vikki Bank are co-financing 50,000 billion VND for the VIFC-HCMC project cluster.
Related markets
Latest news
- Trump methane policy rollback may have minimal impact on crude prices, EPA says
The EPA's own economic modeling projects that President Trump's proposed rollback of methane emissions rules would lower U.S. crude prices by only 11 cents a barrel in 2027, or 0.14%. CLSA analyst Baden Moore said uncertainty over implementation and the policy's durability could limit producers' investment, and that it would affect only a small share of the U.S. shale market. The proposal would allow lighter requirements based on production levels or extraction methods, scrap the Super Emitter Program, and project about $45 billion in savings from 2027 through 2050, mostly from lower compliance costs. The EPA also projects 60 million short tons of additional methane emissions over that period, and the proposal remains subject to public comment and further review.
- Further Fed rate hikes may not necessarily be a mistake
In a CNBC interview on October 28, U.S. Treasury Secretary Scott Bessent said further Fed rate hikes are “not necessarily” a policy mistake, just hours after the Fed held rates steady at its October meeting. He said he and President Trump trust Fed Chair Kevin Warsh to balance maximum employment and price stability, and that the energy-driven supply shock should be viewed as temporary. The U.S.-Iran conflict has sharply cut global crude output and pushed U.S. annual inflation further from the Fed's 2% target. Bessent also said the “Operation Economic Outcast” campaign to isolate Iran's economy has yielded very positive results, with internal estimates that Iran's economy could shrink by up to 25% within a year. On AI-related bond yields, officials are monitoring but see no alarming signs, and Bessent said neocloud firms, which Elon Musk warned on October 25 could face a wave of bankruptcies and large-scale mergers at more than 200 companies, make up only a small part of the ecosystem.
- Ukrainian media examines the race to destroy infrastructure
According to the Telegram channel “Resident,” citing sources at Bankova Street, Russian strikes on bridges mirror Ukrainian attacks on Russian airports, and Ukraine was the first to break an unwritten pact to spare strategic facilities. The article says this shifted in spring, after commander Robert Brovdi (Madyar) of Ukraine's unmanned systems forces proposed attacks on merchant ships in the Azov and Black Seas, followed by a systematic campaign against Russian refineries and oil depots. Russia responded by striking seaports and bridges over the Dnieper, leaving Ukraine at risk of losing crossings over the river and complicating military logistics. Russian military statements say their attacks inflict far greater damage on Ukraine than Ukraine's strikes do on Russia, and the channel sees Moscow's claim that its strikes on Kyiv and port infrastructure retaliate for Ukrainian attacks on civilian targets as indirect confirmation of this picture.
- National Assembly deputy: Land price adjustment coefficients should be reviewed annually
Deputy Lê Văn Thế (Ninh Bình) proposed reviewing the land price adjustment coefficient (K) at least once a year, instead of once every 3 years as in the government's draft amended Land Law. He argued that an annual review does not mean an adjustment, and that prices for newly formed roads and areas missing from land price tables need timely supplementation. Deputy Hoàng Quốc Khánh (Lai Châu) suggested letting the provincial People's Committee set and adjust the K coefficient within limits approved by the provincial People's Council, while Deputy Lê Hữu Trí (Khánh Hòa) called for uniform national principles for determining it. The draft has 3 chapters and 112 articles, 148 fewer than the current law, and the National Assembly plans to vote on November 21.
- CRWV, NBIS, IREN, APLD Stocks Drop After Microsoft Capex Falls Short On Delayed Third-Party Capacity
Neocloud stocks fell overnight after Microsoft reported fiscal Q1 CapEx of $45.2 billion, up about 30% year on year but below the $50.7 billion StreetAccount estimate and its own target of around $50 billion. Microsoft blamed delays in some third-party cloud capacity under contract, and CFO Amy Hood said CapEx would exceed $50 billion in Q2 and about $170 billion for the calendar year. Alphabet's Q3 CapEx of $51.36 billion also came in below the $55.09 billion expected, which investors read as a sign that capacity ramp-up at neocloud firms could slow. CoreWeave fell 5.8%, Nebius 6.3%, Iren 5.3% and Applied Digital 4.3%, while Iren had raised $363 million by refinancing recently purchased AI computing equipment through a six-lender syndicate. Bank of America also disclosed a 4.1% stake in Iren.
- MITTI LABS & SALESFORCE PARTNER TO SCALE WATER-SAVING RICE FARMING PRACTICES THAT REDUCE METHANE EMISSIONS
Mitti Labs announced a five-year carbon credit offtake agreement under which Salesforce will purchase 500,000 satellite-verified methane reduction credits by 2030 to support climate-smart rice farming across tens of thousands of smallholder farms in India. The practice, alternate irrigation, lets fields dry out during safe windows and can cut methane emissions by up to 50% and water use by up to 40% without affecting yields. Mitti Labs' agreement with Google came just weeks earlier, and the company plans to issue 2 million credits per year by 2028 from projects in India and Southeast Asia. Each credit is backed by field-level evidence, and the GeoAI platform, developed with NASA support, uses satellite radar and ground data to track flooding, soil moisture and crop health on individual plots.
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.