In the early morning of June 24, Morgan Stanley Capital International (MSCI) announced the 2026 Annual Market Classification Review. In the announced announcement, MSCI did not mention content related to Vietnam.
Thus, Vietnamese stocks have not been included in MSCI's watch list in this review, although regulators and market members are accelerating many solutions to meet the criteria of this international rating organization.
Sharing about the market upgrade roadmap, Mr. Nguyen Son - Chairman of the Member Council of Vietnam Depository and Clearing Corporation (VSDC) said that Vietnam has met the criteria set by FTSE Russell to be considered for upgrading to the secondary emerging market group. Not only that, many requirements of large international investment funds and investment organizations have also been met or exceeded.
In addition to the goal of upgrading according to FTSE Russell, Vietnam is also aiming to be recognized by MSCI as an emerging market. According to Mr. Nguyen Son, instead of the 2030 milestone as previously targeted, this process can be accelerated, around 2028 or 2029 if the necessary conditions are completed on schedule.
One of MSCI's important requirements is to have an independent legal entity operating the central offsetting partner (CCP) mechanism to manage risks and protect the interests of market members. The organization also sets requirements for the total account model.
Mr. Son said that VSDC has completed important preparation steps for the CCP system. For the total account model, VSDC is coordinating with international organizations such as IFC and working groups to research and select models suitable to Vietnam's practical conditions for implementation in the near future.
Meanwhile, the domestic stock market recorded positive developments in the trading session on June 23. According to SHS Securities, VN-Index created an upward space right from the beginning of the session and headed towards the 1,890 point zone under the positive impact of the bank stock group and improved liquidity. However, increased selling pressure in the afternoon session caused the market to differentiate strongly.
At the end of the session, VN-Index increased by 11.13 points, equivalent to 0.6%, to 1,869.04 points, still below the resistance zone around 1,900 points. VN30 increased by 14.99 points, equivalent to 0.76%, to 1,995.12 points, approaching the psychological threshold of 2,000 points.
Market breadth on HOSE leaned towards price decreases with 208 decreasing codes. Selling pressure increased in many industry groups such as oil and gas, fertilizers, natural rubber, steel, electricity, retail, construction, securities and real estate.
Market liquidity increased sharply, order matching volume increased by 53.9% compared to the previous session. However, this also reflects increased profit-taking pressure at high prices in many stocks. Foreign investors net bought VND 1,512 billion on HOSE.
On the derivatives market, the 41I1G7000 term contract closed at 1,991.1 points, up 0.33% compared to the previous session and switched to a discounted status of 3.72 points compared to the VN30 index. Total trading volume increased by 30.6% compared to the previous session, in the context of strong fluctuations in the VN30.
According to SHS, the short-term trend of VN-Index is shifting to a recovery phase with expectations towards the price range around 1,900 points. However, this is also a very strong resistance zone, causing the index to face adjustment pressure and retest the support zone of 1,820 - 1,850 points. For VN30, the near support zone is defined around 1,975 points.
SHS assesses that VN-Index is surpassing the downward trend thanks to the prominent impact from large-cap stocks. However, the market is under selling pressure as it approaches the old peaks. Currently, the total market capitalization is about 424 billion USD, equivalent to 83% of GDP in 2025. Vingroup alone has a capitalization of about 105 billion USD, accounting for about 25% of the total market capitalization.
In the context of the market entering the late second quarter of 2026 and investors re-evaluating their portfolios after the first half of the year, SHS recommends maintaining a reasonable investment ratio, prioritizing businesses with good fundamentals, leading positions and outstanding growth potential in strategic sectors of the economy.
