HOSE Removes 57 Stocks from Margin Trading List for August

Overview

HOSE announced on August 3, 2026, that 57 stocks are removed from the list of securities eligible for margin trading (ký quỹ) for the month of August. The list includes well-known names such as APG, APH, BCG, DGC, HVN, LDG, OGC, NVT, PTL, TDH, TLH, and TMT. Notably, TIX was reinstated after resolving its audit qualification. This regulatory change affects investor leverage and trading dynamics for these tickers on HOSE.

Key Facts

• 57 stocks are removed from margin trading eligibility on HOSE for August 2026.
• TIX (Tân Bình Import-Export) was reinstated after resolving its audit qualification.
• TIX’s reinstatement follows the removal of the auditor’s qualified opinion on its financial statements for FY2024-2025.
• The list includes APG (APG Securities), APH (An Phát Holdings), BCG (Bamboo Capital Group), DGC (Đức Giang Chemicals), HVN (Vietnam Airlines), LDG (LDG Group), OGC (Ocean Group), NVT (Ninh Vân Bay), PTL (Petroland), TDH (Thủ Đức Housing), TLH (Tiến Lên Steel), and TMT (TMT Motors).
• Reasons for removal include being under warning, control, restricted trading, or having negative after-tax profit in audited 2025 financial statements.
• AAN (Lương thực A An) is removed because its listing period is less than six months.
• The list is effective from August 3, 2026.

What Happened

HOSE published the list of securities not eligible for margin trading for August 2026, which includes 57 tickers. The exchange stated that investors will not be allowed to use credit limits or financial leverage provided by securities companies to buy these stocks. The list comprises mostly stocks that are already under warning, control, restricted, or suspended trading status, such as APG, APH, BCG, DQC, DGC, HVN, LDG, OGC, NVT, PTL, TDH, TLH, and TMT.

In a separate development, TIX (Tân Bình Import-Export) was removed from the margin-cut list after it resolved the condition that had caused its removal. Previously, TIX was placed on the list because its audited financial statements for the fiscal year ending September 30, 2025, contained a qualified opinion from the auditor. The auditor noted that TIX had a receivable of VND 20.9 billion from Kiến Đức Plastic Packaging Trading Services JSC, which was ceasing operations and liquidating assets, making the recoverability uncertain. TIX has now addressed this issue, leading to its reinstatement.

Market Context

As of August 3, 2026, the affected stocks trade on HOSE. For example, AAN closed at VND 15,200, ABS at VND 3,050, APG at VND 4,690, and APH at VND 5,620 on the same day. The removal from margin eligibility typically reduces buying power for these stocks, potentially leading to lower liquidity and downward price pressure in the short term. This move is part of HOSE’s routine monthly review of margin-eligible securities, which is closely watched by traders and institutional investors.

Strategic Significance

For long-term investors, the removal of margin trading eligibility is a signal of elevated risk associated with these stocks. Many of the affected companies are facing financial difficulties, governance issues, or regulatory scrutiny, as indicated by their warning or control status. This development underscores the importance of fundamental analysis and risk management when investing in Vietnamese equities. Investors should monitor whether these companies can address the underlying issues that led to their exclusion, as reinstatement (like TIX) can occur once conditions are resolved.

What to Watch

• Monthly updates from HOSE on margin-eligible securities, typically released at the start of each month.
• Company announcements regarding resolution of audit qualifications, financial restructuring, or compliance improvements.
• Price and liquidity movements of affected stocks in the coming weeks, which may indicate market sentiment.
• Regulatory actions by HOSE or the State Securities Commission (SSC) regarding listed companies’ compliance.
• Quarterly earnings reports from affected companies to assess fundamental improvements.