Oct 24, 2026
Full Analysis
Negative
earnings miss
APG Securities booked a VND 108B after-tax loss in Q3/2026 versus a VND 19B profit a year earlier, after a VND 119B FVTPL revaluation hit on a listed portfolio entirely concentrated in KOS. KOS has fallen 83% across 25 consecutive floor sessions, cutting APG's VND 227B position to a VND 100B fair value.
Oct 23, 2026
Full Analysis
Negative
earnings miss
APG Securities swung to a VND 108B pre-tax loss in Q3/2026 from a VND 20B profit a year earlier, the deepest loss among Vietnamese brokers reporting so far. A VND 119B hit on its FVTPL book and a 93% collapse in FVTPL income drove the reversal, pushing nine-month results to a VND 105B loss against a full-year profit target of VND 20B.
Oct 20, 2026
Full Analysis
Mixed
earnings beat
Techcombank (TCB) delivered a record quarterly pre-tax profit of VND10,375 billion in Q3/2026, up 26% year on year, lifting nine-month earnings to VND28,915 billion. The same reporting batch showed sharp divergence across securities firms, with APG swinging to a VND108 billion quarterly loss while HD Securities profit tripled.
Oct 19, 2026
Full Analysis
Negative
sector sentiment
Vietnam's securities sector index is down 23.46% year-to-date against a 2.77% fall in the VN-Index, with roughly 80% of 43 listed brokers more than 20% below recent peaks. APG leads losses at 61.44%, while only ABW, HCM, VUA and HAC are positive.
Oct 12, 2026
Full Analysis
Negative
sector sentiment
Roughly 80% of Vietnam's 43 listed securities stocks have fallen more than 20% from recent peaks, with APG down 62%, VDS and CSI each down 51%, and SHS and VIX down 45%. VPBankS forecasts SSI's Q3/2026 net profit at VND 1,131B, a 23.4% year-on-year decline, as brokerage revenue faces a high base from Q3/2025.
Oct 05, 2026
Full Analysis
Negative
regulation change
HoSE has excluded 65 tickers from margin trading for Q4/2026, among them Vietnam Airlines (HVN), Duc Giang Chemicals (DGC), APG, Bảo Minh (BMI), Bản Việt Bank (BVB), Đức Long Gia Lai (DLG), DRH Holdings, Điện Quang (DQC) and GIL. The list is driven by losses, qualified audit opinions, warning or control status, and listings younger than six months, not by a single sector-wide event.
Sep 17, 2026
Full Analysis
Negative
leadership change
APG Securities Deputy CEO Nguyen Thanh Lam has resigned effective 18 September 2026, citing personal reasons, roughly five months after taking the role. The exit follows the board's 11 September cancellation of a VND 550B private placement of 50 million shares at VND 11,000 each, leaving the HOSE-listed broker's capital plan and leadership bench in flux.
Sep 13, 2026
Full Analysis
Negative
capital raise
APG Securities cancelled a VND 550 billion private placement of 50 million shares at VND 11,000 each just over a month after the board approved it. The HOSE-listed broker's shares closed at VND 4,650, roughly 58% below the offer price, while H1 2026 pre-tax profit of VND 2.8 billion met only 14% of the full-year plan.
Sep 13, 2026
Full Analysis
Negative
regulation change
HOSE added Pha Le Plastics (PLP) to its margin-trading ineligibility list after the company failed to publish reviewed H1 2026 financial statements, lifting the total to 73 tickers. The list spans newly listed names such as AAN, BVB and DMX, plus stocks with qualified audit opinions and those under control or warning status.
Sep 13, 2026
Full Analysis
Negative
regulation change
HOSE added PLP to its list of stocks ineligible for margin trading after the company failed to publish reviewed H1 2026 financial statements, bringing the total to 73 tickers. The list now spans 28 warning-status names, 4 control-status names and 9 newly listed stocks, restricting leverage demand across securities, banking and real estate.
Sep 12, 2026
Full Analysis
Negative
capital raise
APG Securities cancelled a VND 550 billion private placement of 50 million shares at VND 11,000 each, originally earmarked for debt restructuring and proprietary trading. The company gave no reason, leaving its capital base and 2026 profit target of VND 20 billion in question.
Aug 07, 2026
Full Analysis
Negative
regulation change
HOSE has expanded its margin-ineligible list to 57 securities, including Vietnam Airlines (HVN), Duc Giang Chemicals (DGC), and newly listed DMX. Investors cannot use leverage to buy these shares, potentially reducing liquidity and adding selling pressure in the short term.
Aug 06, 2026
Full Analysis
Negative
regulation change
HOSE removed margin trading eligibility for 56 stocks as of August 5, 2026, including APG, DGC, HVN, and LDG. Most are under warning, control, restriction, or suspension; others have been listed less than six months or reported losses.
Aug 04, 2026
Full Analysis
Negative
regulation change
HOSE removed 57 stocks from margin trading eligibility for August, including APG, APH, BCG, DGC, HVN, LDG, OGC, NVT, PTL, TDH, TLH, and TMT, while TIX was reinstated after resolving its audit qualification. Investors cannot use leverage to buy these tickers, which may reduce liquidity and pressure prices in the short term.
Jul 27, 2026
Full Analysis
Neutral
capital raise
APG plans to raise VND 550B via a private placement of 50 million shares at VND 11,000 each, with proceeds used for debt restructuring and business operations. VIX, HSC, BMS, and SSI also announced capital increases through share issuances.