Vietnam’s Stock Market Upgrade: Positive Developments and Prospects
SSI Research’s recently published June strategy report highlights several positive developments in the process of upgrading Vietnam’s stock market.
Specifically, the State Bank has issued Circular No. 03/2025/TT-NHNN (TT03), which, along with Circular No. 18/2025 of the Ministry of Finance, has facilitated the implementation of non-prefunding solution (NPS) transactions for foreign institutional investors. Notably, TT03 has simplified the procedure for opening indirect investment accounts by eliminating the requirement for consular legalization of foreign-language documents.
Prior to this, the new information technology system (KRX) has been operational since May 5, and after more than a month of implementation, the system is stable, providing a basis for the expectation of deploying new products and services in the Vietnamese stock market.
In June, alongside MSCI’s announcement of the 2025 market classification evaluation results, information related to the amendment of Decree 155 and related documents continued to attract investors’ attention as the FTSE Russell evaluation deadline looms.
According to SSI Research, changes related to account opening time, payment accounts, foreign ownership, NPS, and CCP will address the issues raised by FTSE Russell when considering upgrading Vietnam’s stock market to emerging market status in October 2025.
The analysis also identified stocks expected to benefit from the market upgrade, mostly large-cap stocks with room for foreign ownership, including the Vingroup (VIC, VHM, VRE, VPL), HPG, MSN, and some banks and securities companies.
According to SSI Research’s estimates for over 80 stocks within their scope of study, corporate profits are expected to increase by 13.4% year-on-year in the scenario of a 20% US tariff imposition.
Public investment activities and the recovery of the real estate market are anticipated to be significant drivers for the growth of cyclical sectors such as construction & materials, residential real estate, information technology, and finance.
Meanwhile, consumer stocks are assessed to potentially benefit from the gradual recovery of domestic consumption and increasing profit margins, despite possible indirect impacts on consumer sentiment due to tariff-related factors towards the end of the year.
The Foreign Block Sells Off Hundreds of Millions in the First Trading Session of the Week, with a Bank Stock Taking a Beating
“Foreign sell-off continues to be a drag, with a net sell-off value of VND 331 billion across all three exchanges.”
“Investors Take Profits on Vingroup Shares”
The Vingroup stock plunge on June 9th saw billionaire Pham Nhat Vuong’s wealth take a hit, with his holdings on the Vietnamese stock market losing around VND 15,000 billion.
The Foreign Sell-Off Continues: Nearly $20 Million in Outflows and the Stocks Feeling the Heat.
The afternoon session saw a strong net buying trend for MSN across the market, with a total value of 118 billion VND. This significant buying activity indicates a potential shift in market sentiment and highlights the stock’s resilience and appeal to investors. As one of the leading stocks in the industry, MSN’s performance continues to be a key focus for market participants.
Tomorrow’s Stock Market Outlook: VN-Index Fluctuating Around 1,330 – 1,400 Points
The stock market analysts predict a positive investor sentiment with expectations that the VN-Index will find equilibrium at 1,330-1,340 points.
A Stock Market “Purple Wonder” Emerges as Chairman Spends Billions to Become a Major Shareholder
As of Q1 2025, the company reported a net profit of over $430,000, a 31% decrease year-over-year, yet surpassing the full-year plan.
