Vietnam Stock Market 2026 — VN-Index, Exchanges & Investment Data
Reference overview of Vietnam's equity and securities markets. This page covers exchanges, indices, and market structure—not investment advice.
Vietnam's financial markets comprise the equity, fixed-income, and derivatives venues that channel capital between issuers and investors. The equity market is operated by the Ho Chi Minh City Stock Exchange (HOSE), the Hanoi Stock Exchange (HNX), and the UPCoM board for unlisted public companies. The flagship benchmarks are the VN-Index and VN30, with retail investors providing the bulk of daily trading turnover and foreign investors operating under sector-specific ownership caps. The VN-Index closed 2025 at about 1,784 points (up ~41% on the year), with total market capitalisation of about VND 10 quadrillion, 78% of 2025 GDP (State Bank of Vietnam) and record average daily turnover around $1.2 billion (HOSE / VietnamPlus, 2025–2026). In a landmark shift, FTSE Russell confirmed Vietnam's reclassification from Frontier to Secondary Emerging Market, effective 21 September 2026 — the first of four inclusion tranches running to September 2027, expected to draw an initial ~$1.5 billion in passive inflows and put Vietnam on the radar of global EM mandates.
Key numbers
Overview
Vietnam's stock market is operated by the Ho Chi Minh City Stock Exchange (HOSE), the Hanoi Stock Exchange (HNX), and the Unlisted Public Company Market (UPCoM). The market has grown from a small bourse in the early 2000s to one of the largest in Southeast Asia by market capitalization. Retail investors account for a significant share of trading volume.
View the data table
| Date | Value |
|---|---|
| Aug 21 | 1,768 |
| Aug 28 | 1,832 |
| Sep 4 | 1,853 |
| Sep 11 | 1,795 |
| Sep 18 | 1,816 |
| Sep 25 | 1,785 |
| Oct 2 | 1,738 |
| Oct 9 | 1,735 |
| Oct 16 | 1,706 |
| Oct 23 | 1,774 |
| Oct 30 | 1,742 |
| Nov 6 | 1,725 |
| Nov 13 | 1,729 |
The index moved +0.1% over this window. The window is the 12 weeks held in the snapshot (Aug 19 to Nov 13), not a full year. · Source: VietCap daily OHLC (committed snapshot, as of 2026-11-13)
FTSE Russell upgrade: how the inclusion phases in
Reclassification takes effect on 21 September 2026, but index funds do not buy everything at once: Vietnam enters FTSE's emerging-market indices in four steps, each adding a share of its investable weight. The first step is small, so most passive demand arrives in 2027.
| Tranche | Date | Added | Cumulative |
|---|---|---|---|
| 1 | Sep 2026 | 10% | 10% |
| 2 | Mar 2027 | 20% | 30% |
| 3 | Jun 2027 | 35% | 65% |
| 4 | Sep 2027 | 35% | 100% |
Inflow estimates differ by source: about US$1.5 billion of initial passive money is the figure quoted above, while some press reports cite up to US$6 billion across the full phase-in. MSCI still classifies Vietnam as a frontier market.
Exchanges
- HOSE (Ho Chi Minh Stock Exchange): Main board for large-cap listed companies; VN30 and VN100 indices.
- HNX (Hanoi Stock Exchange): Mid and small cap; derivatives (futures on VN30) and bond trading.
- UPCoM: Unlisted public companies; less liquid, different listing rules.
Key indices
- VN30: Top 30 largest and most liquid stocks on HOSE.
- VN100: Top 100 by market cap and liquidity.
- VN-Index: Broad market index of HOSE.
- HNX-Index: Broad index of HNX.
Regulation and infrastructure
The State Securities Commission (SSC) regulates the market. The Vietnam Securities Depository and Clearing Corporation (VSDC) handles clearing and settlement. Foreign ownership limits apply to many listed companies; sectors such as banking and listed state-owned enterprises have specific caps.
Related articles
- Vietnam Stock Market Overview — Exchanges, market size, regulation.
- VN30 Index: Overview and Composition — What the VN30 is and how it is used.
- All articles & insights
Frequently Asked Questions
What stock exchanges are in Vietnam?
Vietnam has three trading venues: the Ho Chi Minh City Stock Exchange (HOSE) — the main listed market for large caps; the Hanoi Stock Exchange (HNX) — listed mid-caps and bonds; and the Unlisted Public Company Market (UPCoM) — a secondary venue for public but unlisted companies. All operate under the Vietnam Exchange holding structure.
What is the VN30 index?
The VN30 tracks the 30 largest and most liquid stocks listed on HOSE by market capitalization and free float. It is the underlying index for VN30 futures and many ETFs, and is commonly used as a benchmark for institutional investors and structured products in Vietnam.
Who regulates Vietnam's stock market?
The State Securities Commission of Vietnam (SSC), under the Ministry of Finance, is the primary regulator. Clearing and settlement run through the Vietnam Securities Depository and Clearing Corporation (VSDC). The Securities Law and supporting decrees define listing, disclosure, and trading rules.
Can foreign investors trade Vietnamese stocks?
Yes — foreign investors can buy and sell securities through licensed local brokers after obtaining a securities trading code from VSD. Foreign ownership limits apply per sector and per security (often 49% baseline, lower in regulated sectors such as banking), and certain prudential and reporting rules apply. Access improved markedly with the November 2024 non-prefunding model (removing the pre-funding barrier for foreign institutions) and the KRX trading system launched in May 2025.
Is Vietnam an emerging market? (FTSE Russell upgrade)
Yes — FTSE Russell confirmed on 7 April 2026 that Vietnam is reclassified from Frontier to Secondary Emerging Market, effective from the open on 21 September 2026. It is the first of four phased inclusion tranches running to September 2027, and is estimated to draw roughly US$1.5 billion in initial passive inflows (with active mandates expected to add multiples over the following years). The upgrade followed reforms including the non-prefunding model, the KRX trading platform, and rules letting global investors access the market through their international brokers. MSCI still classifies Vietnam as a frontier market.
How big is the Vietnam stock market?
The VN-Index closed 2025 near 1,784 points (up about 41%, its strongest year in eight), with total market capitalisation of about VND 10 quadrillion, 78% of 2025 GDP (State Bank of Vietnam), placing Vietnam among the larger Southeast Asian equity markets. Retail investors account for a high share of daily trading turnover relative to institutional participants, a structural feature versus more developed markets.
Sources
- State Securities Commission of Vietnam (SSC)
- Ho Chi Minh City Stock Exchange (HOSE)
- Hanoi Stock Exchange (HNX)
- Vietnam Securities Depository and Clearing Corporation (VSDC)
- VietCap daily OHLC for the VN-Index series (committed snapshot, refreshed by the site's daily pipeline)
- ACBS flash note, Vietnam market upgrade (Apr 2026) and Vietstock coverage of FTSE Russell's confirmation — inclusion tranches