Information that FTSE Russell officially included 27 Vietnamese stocks in FTSE All-Cap is expected to create a significant boost for the Vietnamese stock market. In addition, FTSE Russell also announced 90 micro-cap stocks of Vietnam.
According to analysis by ACBS Securities Company (CTCK), these are stocks that meet FTSE GEIS screening criteria, except for capitalization and available investment capitalization criteria. This list covers many fields, from securities, real estate, banking, retail to oil and gas, building materials and industrial parks.
Although the micro-cap group is not yet on the list of 27 codes that ACBS calculated net buying capital in the September restructuring, passing through most of the international screening criteria is still a signal worth monitoring in the long term.
From a broader perspective, the significance of the restructuring is not only about 216 million USD of passive capital that may flow into the market in September. The list of 117 stocks shows the relatively broad coverage of Vietnamese enterprises in the FTSE GEIS index system, from leading enterprises to small capitalization groups.
However, many experts believe that buying stocks based only on information "added to the portfolio by FTSE" may lead to excessive expectations. The reality of last week's trading shows that, in addition to Vingroup stocks such as VIC and VHM increasing sharply, many stocks named in the list such as VCB, HPG, BID, NVL, SSB... have almost no significant changes.
Dr. Nguyen Duy Phuong, Senior Director of Financial Analysis Division of DG Capital, said that FTSE Russell putting Vietnam into the upgrade implementation phase is an important catalyst, supporting the right time when the domestic market is quiet and there is still much skepticism. Vietnam is expected to be included in the secondary emerging market group in stages from September 2026 and according to the roadmap, new international capital flows will participate more strongly.
However, according to Dr. Phuong's point of view, capital flows will not be evenly distributed but will focus on large-cap enterprises with high liquidity, transparent governance and foreign ownership room.
The group with the clearest benefit potential includes banks, securities, consumer goods, technology, steel and leading enterprises such as HPG, FPT, MSN, VNM, VIC, VHM and a number of large banks and securities companies meeting liquidity criteria.
The securities group also indirectly benefits from increased trading value, the number of newly opened institutional accounts and the need to provide services to foreign investors.
The capital flow to welcome upgrading first may not be too sudden, but it can still become an important driving force to help the market maintain a positive trend in the last months of the year," Dr. Phuong stated his opinion.
OCBS Securities Company expressed its view that, in the current period, investors should continue to monitor the three industry groups of banking, securities and real estate, which are playing an important role in leading the general trend. These are groups that have the ability to attract large cash flows and still have momentum from business prospects as well as short-term support stories.
In addition, investors may be interested in some pillar stocks belonging to technology, public investment and retail groups that are showing signs of improved cash flow. The spread to many industry groups will help the recovery trend be more sustainable and reduce dependence on a few large-cap stocks.
OCBS Securities Company recommends that after a strong recovery, investors can continue to hold stocks that maintain good trends, while preserving achievements with positions that have had significant profits. Do not chase, especially when the index approaches the 1,840-1,850 point zone. Instead, you should take advantage of volatile sessions to restructure your portfolio and increase the proportion of stocks with good foundations.
