At a seminar marking 30 years of Vietnam's securities industry on October 21, Deputy Chairman Hoàng Văn Thu of the State Securities Commission outlined six major directions following the FTSE Russell upgrade. Priorities include cutting business investment conditions and simplifying administrative procedures to attract foreign capital, and implementing a central counterparty (CCP) mechanism for the underlying stock market by 2027, alongside modernizing trading infrastructure. The list also includes diversifying financial products and promoting equitization and state divestment. As of September 30, 2026, stock market capitalization reached 10.3 quadrillion VND, equal to 80.2% of estimated 2025 GDP, and investor accounts rose from about 3,000 in 2000 to nearly 14.1 million, or 13.8% of the population, surpassing the 2030 target of 11 million.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Phó Chủ tịch UBCKNN hé lộ 6 định hướng lớn của chứng khoán Việt Nam sau cột mốc lịch sử
Keywords
VNINDEXFTSE RussellprivatizationVietnam
Open a keyword to see other news on the same topic.
Related tickers and likely impact
VNINDEX
▲ Likely positiveRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/20/2026 | 1,691.97 |
| Change that session | +0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Vietnam's Stock Market Targets Mobilizing VND 5.4 Quadrillion in Medium- and Long-Term Capital for 2026-2030
According to Lương Hải Sinh, Chairman of the Board of Members of VNX, after 30 years the VN-Index hovers around 1,800 points, average daily trading value is about US$1 billion, and market capitalization is roughly VND 10.7 quadrillion (over US$410 billion, about 83% of GDP), with more than 1,500 listed companies and about 14 million investor accounts. The market was upgraded to secondary emerging market status and joined FTSE Russell's global index basket on September 18, 2026. To meet the target of two-digit GDP growth, the stock market needs to mobilize about VND 5.4 quadrillion (over US$200 billion) in 2026-2030, out of total investment needs of about VND 38.5 quadrillion, under Decision 1413/QĐ-TTg dated July 27, 2026. VNX is preparing VN30 index options and studying a start-up trading board, gold derivatives, gold ETFs, depositary receipts (DRs) and cross-border trading mechanisms. It is also prioritizing infrastructure upgrades, improved settlement and clearing, and stronger market supervision.
- Despite Upgrade, Vietnam Stocks Still See About 24,000 Billion VND Outflow: Experts Point to 3 Causes
Despite FTSE Russell's upgrade of Vietnam from frontier to emerging market status, foreign investors have been net sellers, with about VND 24,000 billion withdrawn since the start of the year, mostly after the September 21 upgrade. Excluding transactions linked to Masan Consumer, according to Nguyen Quang Thuan of FiinGroup, the remaining flow is about half a billion USD. He cites three causes: high USD interest rates, with US 5-year Treasury yields at 5.2–5.3%; outflows coming mainly from active funds, while the upgrade matters most for passive funds, so inflows take time; and market constraints such as foreign ownership limits (FOL), a limited free float, and a large-cap market concentrated in banking, securities and real estate with few tech stocks. Johan Nyvene of HSC said investors may look for 12–15% returns to offset risks, a view rather than a guaranteed level.
- One Month After Upgrade: Foreign Investors Net Sell Nearly $1 Billion, VN-Index Down 110 Points
One month after FTSE Russell upgraded Vietnam to secondary emerging market status, foreign investors net sold on 19 of 20 sessions, with only one net-buy session worth VND 54 billion. Cumulative net selling since Sept. 21 is about VND 24,800 billion (~US$1 billion), and year-to-date it exceeds VND 116,000 billion, close to the 2025 record of VND 125,000 billion. Selling pressure has spread to FPT and PNJ, whose foreign ownership has fallen below 28% and 27%, respectively. Major foreign ETFs are also failing to attract inflows, and Fubon Vietnam ETF has seen net outflows of over TWD 4 billion (more than VND 3,000 billion) since the start of the year. The VN-Index has fallen nearly 110 points (-6%) to around 1,700, amid high interest rates, thinner domestic liquidity and external pressures.
- Why did the stock market suddenly surge 47 points on the October 21 session?
VN-Index closed October 21 up 46.7 points (2.76%) at 1,738.67, its biggest gain in over half a year, as cash flowed into blue-chip stocks, with VIC and VHM alone contributing nearly 30 points. HOSE matched trading value rose nearly 60% from the previous session to nearly VND 18,000 billion. Deposit rates are also cooling after the State Bank asked 46 commercial banks to cut listed rates for terms of 6 months and longer by at least 0.5 percentage points a year, and 15 banks had announced cuts by the morning of October 20. CSI's Đỗ Bảo Ngọc said this may be only an early step: rate cuts need to become a medium-term trend, and trading value must stay high, before cash clearly returns to stocks. Experts note one session is not enough to confirm a lasting shift from savings into equities.
- Good news: Foreign investors snap 21-session selling streak, spend nearly VND 300 billion to accumulate a bank stock
The VN-Index rose nearly 47 points to 1,739 points, with HoSE liquidity improving to about VND 17,440 billion and the Vingroup group leading the rally. Foreign investors returned to net buying of about VND 160 billion, ending a streak of 21 consecutive sessions of net selling; on HoSE alone, they net bought VND 190 billion. On HoSE, TCB saw the largest net buying at about VND 290 billion, while FPT faced the biggest net selling at about VND 173 billion. On HNX, foreigners net sold VND 31 billion, while UPCoM saw net buying of VND 1 billion.
- Billionaire Pham Nhat Vuong “drives” Vietnam’s stock market among Asia’s top gainers
The VN-Index gained 46.7 points (+2.76%) to 1,738.67 points, its strongest rise in over half a year, with the Vingroup group contributing nearly 34 points; VIC, VHM and VRE hit the daily limit-up. HoSE liquidity improved markedly, with trading volume above 800 million units and matched value of VND 16,600 billion. Foreign investors net bought VND 193 billion on October 21, ending a streak of 20 consecutive sessions of net selling on HoSE. According to BSC, the 2026 profit growth forecast for the surveyed listed companies was raised to 26%, and 2027 is expected at 12%; BSC sees this as an appropriate time to allocate to stocks for medium- and long-term goals.
Related markets
Latest news
- Stock market today: Dow, S&P 500, Nasdaq futures rise as earnings roll in, SpaceX stock surges
US stock futures rose as SpaceX's better-than-expected quarterly results, driven by AI infrastructure and cloud growth, revived enthusiasm for AI stocks; Nasdaq 100 futures gained 0.9%, S&P 500 futures 0.3%, and Dow futures were little changed. SpaceX shares jumped 6% after hours, and Musk said SpaceX and Tesla (TSLA) have each formed special committees to discuss a merger. Tesla and Meta (META) report after the bell Wednesday, kicking off Big Tech's earnings season. Netflix (NFLX) shares fell premarket after its Q4 revenue forecast missed estimates and 2026 ad revenue guidance was lowered. Brent crude rose to $109 per barrel, while WTI traded near $98.
- Meta and Google are about to have a consumer AI showdown
Meta (META) and Google (GOOG) are heading for a showdown over consumer AI assistants, a race to control the next dominant tech platform. Meta's Muse, which launched last month as the first popular AI agent for everyday users, has hit a download milestone, but cautious users may wait for Google or Apple (AAPL) given how much trust is needed for emails, calendars and wallets. Bank of America analysts said Google is well positioned with proprietary models, custom silicon and broad distribution, and a competitive agent or broader Gemini 4 launch could be catalysts. The two firms account for more than half of global digital ad revenue, yet AI agents could move users away from the screen-phone-app model that underpins those businesses.
- NVIDIA Launches OpenShell Reference Architecture for Safe AI Agents
NVIDIA has launched the OpenShell Reference Architecture, a full-stack platform for building, containing, observing and enforcing safe AI agents across enterprise and edge infrastructure. It combines Vera Rubin infrastructure for inference, Vera CPUs for agent harnesses, and BlueField-4 DPUs running NVIDIA Sentry for continuous monitoring and in-silicon policy enforcement. NVIDIA says Vera Rubin NVL72 systems deliver 30x higher throughput per megawatt for agentic workloads, Vera CPUs offer 2x the performance of x86 processors, and Sentry can stop an agent that moves outside its boundary within milliseconds. Partners including Anthropic, AWS, Cisco, CrowdStrike, Microsoft, OpenAI and Google Cloud are working with the architecture, which runs on Canonical, Red Hat and Microsoft Windows platforms.
- Ken Fisher and Jim Cramer Like This Bank Stock. Is It a Buy After Earnings?
Goldman Sachs reported third-quarter results that beat estimates, with net revenues the second highest in the firm's history and return on common equity of 18.7%. Equities revenue rose 72% from a year earlier and asset and wealth management revenue rose 10% from the second quarter, yet the stock traded flat after the report. The bull case points to durable revenues, which have more than doubled since 2020 and made up about 45% of revenue this year. The bear case notes that trading revenue dipped from the prior quarter and that EPS growth is expected to slow from about 39% in 2026 to about 4% in 2027. The consensus rating is Hold, and the stock trades at about 12.3 times forward earnings, a premium of about 14% to its sector's 10.8 times and near its five-year average of about 12.5 times.
- Dutch Bros Trades at 58 Times Earnings. Here's Whether That's a Reason to Buy or a Reason to Walk Away.
Dutch Bros trades at a P/E ratio of 58, more than double the S&P 500's 26, though it was about 100 at the start of the year and rose to about 110 in late June. Its three-year median P/E is 141, and the shares gained 64.5% over the three years ended Oct. 16, trailing the S&P 500's 84.5% total return. The company opened 48 locations in the June quarter, and second-quarter same-store sales grew 5.8%, with higher traffic contributing 1.7 percentage points, marking 13 straight quarters of comparable sales growth. The author says the current multiple is more reasonable than earlier levels and that the P/E alone should not keep investors away, given the growth opportunity.
- European Ecosystem Builds World's Most Efficient AI Factories With NVIDIA DSX
NVIDIA announced at GTC Berlin on October 21, 2026 that leading European ecosystem partners are adopting its DSX AI Factory Platform to build AI factories that use less water for cooling and less power for the same output. DSX reference designs use closed-loop liquid cooling with dry coolers instead of evaporative cooling towers, which could reduce facility cooling water use to near zero; at a 2 gigawatt scale this could save 54 million liters a day, equal to the daily water use of 180,000 households. DSX MaxLPS allocates power dynamically and can generate the same number of tokens with up to 30% less power, while DSX Flex lets AI factories act as flexible loads to support grid reliability. Several AI cloud providers, including CoreWeave, Google Cloud and Nebius, are exploring or planning to use these technologies.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.