According to FiinTrade, margin loan balances at 78 securities firms (covering about 99.6% of industry equity) reached over VND 457,500 billion at the end of Q3/2026, up VND 56,400 billion (14.1%) from the end of 2025 and the highest level in the market’s history. Meanwhile, average daily trading value in Q3 was only about VND 14,800 billion, down 22.6% from the previous quarter and 63.6% from a year earlier. The ratio of margin debt to free-float-adjusted market capitalization was about 14.2%, versus 5.6% in 2020 and 8.8% at the 2022 peak. General Director of FIDT Bùi Văn Huy said most of the current margin volume appears to come from privately negotiated “deal” loans, though public data does not yet show their exact share. He noted that when shares are pledged as collateral, their prices may be affected by the financial condition of borrowing shareholders, and such debt generally does not appear on listed companies’ balance sheets.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Một rủi ro tiềm ẩn đằng sau con số margin kỷ lục
Keywords
brokeragesVNINDEXmargin lendingleverageliquidity
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Related tickers and likely impact
VNINDEX
▼ Likely negativeRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/23/2026 | 1,774.15 |
| Change that session | +0.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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