Vietnam Brokers Show Diverging Q2 2026 Profits as VN-Index Faces Technical Pressure

Quarter‑2 2026 earnings for Vietnam’s brokerage firms displayed a sharp split. Large‑cap ABS posted a pre‑tax profit of VND 196 billion, up 389% YoY, while BMS grew 21% to VND 94 billion. Smaller‑cap PGSV doubled its profit to VND 12 billion. In contrast, BVSC’s profit fell 33% to VND 51 billion, VBSE slumped 91% to VND 19 billion, and SBBS remained near break‑even.

Technical analysts warned that the VN‑Index must hold the 1,780‑1,800 point zone to avoid a deeper correction. The index’s P/E sits at 13.7, below the 10‑year average of 15.3, suggesting valuation still appeals. Brokers urged cautious risk‑management, limiting new purchases and watching oil price moves—Brent’s rise above US$80 a barrel could temporarily boost energy stocks, though the impact is seen as muted compared with earlier spikes.

Overall, the market shows both profit opportunities for well‑positioned brokerages and heightened volatility risks for investors.