Vietnam’s stock market has reached unprecedented heights, fueled by a series of supportive policies from the Government and regulatory agencies.
These initiatives are creating fresh momentum and raising expectations for a new growth cycle, with the goal of attracting high-quality domestic and foreign capital to support business expansion and economic development.
Historic Market Milestone
At the close of trading on August 8, the VN-Index reached a historic peak of 1,584 points—the highest level since the market’s inception. Meanwhile, the VN30 Index climbed to 1,729 points. Compared to the start of 2025, these indices have surged more than 25% and 30%, respectively, from early 2024 levels.
Other key indices also posted record highs: the HNX-Index hit 272.4 points and the UpCoM Index reached 108.6 points, up 19% and 14% year-to-date. This marks the highest point in the 25-year history of Vietnam’s stock market.
On the same day, the Ho Chi Minh Stock Exchange (HOSE) recorded a market capitalization of VND 6.84 quadrillion, up over 30%—equivalent to VND 1.6 quadrillion (nearly USD 62 billion)—since the beginning of 2025. The total market capitalization of all listed shares reached approximately VND 8.2 quadrillion, or nearly 71% of Vietnam’s GDP as of July 2025, the highest ratio in history and six times higher than a decade ago.
Leading Sectors Drive Growth
This surge in market capitalization has been driven in part by robust growth in leading stocks, including those from the Vingroup ecosystem (VIC, VHM, VRE, VEF), GELEX Group (GEX, GEE), major banks (VPB, SHB, TCB, CTG, BID, HDB, EIB), and securities firms (SSI, VND, SHS, VCI, VIX).
Liquidity has soared, with billion-dollar trading sessions becoming increasingly common. In recent days, total market turnover has frequently exceeded USD 2 billion per session. Two record-breaking sessions were recorded: July 29 saw a combined trading value of VND 79 trillion across all three exchanges, followed by August 5 with an all-time high of VND 86 trillion. The average daily trading value across the three bourses reached VND 39.45 trillion in July 2025.
Capital Inflows Reach Unprecedented Levels
The scale of capital inflows into Vietnam’s equity market is unmatched in its history. Strong investor appetite—focused on listed companies with solid business performance and robust balance sheets—has propelled the market’s steady and sustainable rise.
Gerald Toledano, a representative of FTSE Russell under the London Stock Exchange Group, noted that Vietnam’s market liquidity is “highly impressive,” ranking first in ASEAN and surpassing both Thailand and Singapore.
Rising Investor Participation
According to the Vietnam Securities Depository and Clearing Corporation (VSDC), 226,153 new domestic securities accounts were opened in July alone. By the end of the month, the total number of accounts nationwide reached 10.447 million, equivalent to around 10.4% of the population—achieving the 2025 target ahead of schedule and setting sights on 11 million accounts by 2030.
Related
Discover more from Vietnam Insider
Subscribe to get the latest posts sent to your email.
Source: Vietnam Insider