FTSE Russell to Upgrade Vietnam's Stock Market to Emerging Status on October 7
Vietnam's stock market today is set for a significant boost as FTSE Russell considers upgrading it from frontier to secondary emerging market on October 7. This move is expected to draw in more large, stable, long-term capital.
The VN-Index has been surging, breaking through its 2022 peak of 1,500-1,520 points and nearing a major resistance zone at around 1,800 points. This growth is accompanied by signs of rotation into sectors with untapped potential. Despite this, foreign investors remain cautious about the Vietnamese IPO market, though no specific funds or institutions are absent from FTSE Russell's potential investor list.
A high-level delegation led by Minister of Finance Nguyen Van Thang recently visited the London Stock Exchange and FTSE Russell, demonstrating Vietnam's commitment to the upgrade process. FTSE Russell praised Vietnam's strong, direct engagement, boosting confidence in the upgrade. The mission also served to showcase Vietnam's capital market at major financial hubs like London and Milan. Nearly 200 top global asset managers, representing about $16 trillion in assets, met with Vietnamese firms in London, highlighting strong global capital appetite for Vietnam's market.
With the potential upgrade, Vietnam's stock market will offer a greater supply of securities and stronger investor-protection mechanisms. Retail investors are advised to maintain confidence in the market's long-term trend while selecting the right sectors for expected returns. The Ministry of Finance and State Securities Commission are working to diversify products to mobilise capital for infrastructure and sustainable development. Recent powerful inflows, with several sessions reaching $2-3 billion in daily trading value, reflect the market's strong liquidity and attractiveness.
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