* Vietnam PMI continues declining with output, new orders dipping
* Registered FDI hits second highest January level since 2012
* ACV: Strong 35% YoY NPAT-MI growth in line with forecast - Earnings Flash
* AST: Robust 29% YoY NPAT-MI growth aligns with forecast - Earnings Flash
* BID: Strong investment gains support NOII growth, counteract high credit costs in Q4 - Earnings Flash
* BMI: Slower premium growth, weak financial income pressures Q4 earnings - Earnings Flash
* BSR: Earnings improve QoQ but slight losses reported in Q4, trailing our expectations - Earnings Flash
* DCM: 2024 NPAT within expectation; eyes on 2025F NPAT growth - Earnings Flash
* DGW: Earnings track ahead of forecast due to higher-than-expected EBIT margin - Earnings Flash
* DHC: Narrowed price spread in Q4 2024 impacts profitability - Earnings Flash
* DXG: Handovers of presold units at Gem Sky World fuel Q4 earnings growth, exceeding forecasts - Earnings Flash  
* DXS: Property brokerage rebound drives 2024 NPAT-MI, in line with expectations - Earnings Flash
* GAS: 2024 core NPAT-MI meets projections as strong LPG and LNG profit offset weak sales volume to gas-fired plants - Earnings Flash
* GMD: Operating results align with forecasts, but core NPAT-MI trails due to abnormal Q4 surges in other expenses - Earnings Flash
* GVR: Strong rubber segment performance drives 2024 earnings growth - Earnings Flash   
* HDB: Strong earnings growth while bad debt metrics increase QoQ - Earnings Flash
* HDG: Provision expenses related to Hong Phong 4 weigh on earnings; slight downside risks for 2025 NPAT-MI - Earnings Flash
* HPG: 2024 blended results in line; steel segment slightly trails expectations - Earnings Flash
* HVN: Turnaround to profitability with strong revenue growth, margin expansion - Earnings Flash
* KBC: 2024 NPAT-MI trails forecasts while 2025F IP land sales recovery remains on track - Earnings Flash  
* MBB: Strong credit growth with top-tier CASA ratio; asset quality improves significantly QoQ - Earnings Flash
* NT2: 2024 NPAT beats forecast on high volume, slight upside to 2025F NPAT - Earnings Flash
* NVL: Property handovers increase in Q4; high provisions, minority interest drive 2024 net loss - Earnings Flash
* PC1: 2024 core NPAT slightly trails forecast; power construction GPM doubles QoQ - Earnings Flash
* PHR: Q4 earnings ahead of forecast, driven by strong rubber segment - Earnings Flash  
* PLX: Recurring NPAT-MI growth of 17% YoY; below forecast - Earnings Flash
* PVD: Robust recurring 23% YoY NPAT-MI growth but trails expectations - Earnings Flash
* PVS: One-off gains, guarantee provision reversal boost reported 15% YoY NPAT-MI growth, beating forecast by 10% - Earnings Flash
* PVT: Reported NPAT-MI grows 13% YoY, slightly trails forecast - Earnings Flash
* REE: 2024 NPAT-MI beats forecast by 10% on outperforming M&E, hydropower; slight downside risk to 2025F NPAT-MI - Earnings Flash
* SAB: Modest Q4 earnings growth, in line with expectations – Earnings Flash
* SIP: Strong earnings, IP land sales ahead of expectations - Earnings Flash
* SSI: Enhanced efficiency, robust margin lending growth support 2024 earnings - Earnings Flash
* STK: Surprise Q4 performance; FY2024 NPAT-MI surpasses forecast - Earnings Flash
* VCB: Low credit costs support earnings; asset quality remains top tier - Earnings Flash
* VJC: 2024 results trail forecasts amid delayed aircraft deliveries in SALB segment - Earnings Flash
* VNM: Strong sales growth in overseas market; GPM slightly trails expectation - Earnings Flash
* VTP: Strong Q4 earnings growth exceeds expectation - Earnings Flash
* Market wrap: VN-Index falls 0.9% after holiday break

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Market wrap: VN-Index falls 0.9% after holiday break

The VN-Index fell 0.9% (-12.0 pts) on Monday after a week-long break for the Lunar New Year, closing the trading day at 1,253.0. A liquidity surge reflected increased activity, driven by profit-taking and rising uncertainty over renewed US tariff risks and a stronger DXY. Throughout the index, there were 166 gainers, 308 laggards, and 41 stocks unchanged. Total trading volume increased compared to the previous trading day to USD549.1mn.  

* The banks sector put the most pressure on the market, as VCB (-1.4%), BID (-1.0%), TCB (-0.9%), and VPB (-2.1%) declined. CTG (+0.1%) was the lone large-cap gainer.  

* Tech stocks performed poorly, with FPT (-2.8%), CMG (-4.9%), SAM (-1.5%), and ELC (-1.3%) sliding.  

* Basic materials experienced a net positive day, including gains from GVR (+1.6%), DCM (+1.3%), SHI (+6.9%), and DPM (+1.0%).

* Milk producer VNM (-2.7%), real estate company VHM (-1.3%), beer producer SAB (-2.0%), utility company GAS (-1.2%), and logistics company VTP (-4.8%) were among the notable laggards from other sectors.

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