The market maintains strong growth momentum
On the morning of October 17, Minister of Finance Nguyen Van Thang had a working session with the Ho Chi Minh City Stock Exchange (HOSE).
Reporting at the meeting, Ms. Vu Viet Ha - Chairman of the Board of Directors of the Ho Chi Minh City Stock Exchange (HOSE) - said that by October 15, 2025, the VN-Index reached 1,757.95 points, an increase of 38.8% compared to the end of 2024. Stock market capitalization at HOSE reached VND7.6 million billion, up 46.9%, accounting for 94.9% of total listed stock market capitalization and equivalent to 66.4% of estimated GDP in 2024.
From the beginning of the year to October 15, 2025, market liquidity will remain high, with an average trading volume of 1.1 billion shares/day, trading value of VND 26,829 billion/day, up 31.7% and 35.2% over the same period last year.
According to Ms. Ha, this positive development is achieved thanks to the Government's efforts in maintaining a stable macroeconomic policy, implementing solutions to meet the criteria for upgrading emerging markets, while strengthening the confidence of domestic and foreign investors.
Stable operation, preparing for the new phase
Since the KRX system officially took effect on May 5, 2025, transactions on HOSE have been conducted stably and smoothly, meeting market demand well. In 9 months, HOSE organized 183 trading sessions, an average of 1.5 million orders/session; the highest session on August 20, 2025 recorded 13.2 million orders with a value of more than 68 trillion VND, equivalent to 71.7% of the system's capacity.
As of September 30, 2025, HOSE has 696 listed and traded stock codes. Since the beginning of the year, there have been 55 new listed codes, of which 50 enterprises have a capitalization of over 1 billion USD, mainly in the banking, real estate, raw materials, finance, essential consumer goods and retail groups - accounting for 84% of total market capitalization.
In the field of auction and new product development, HOSE organized 10 auctions, 3 successful ones; coordinated with VinaCapital and Bai Viet to issue rules for 3 new sets of indicators, as a basis for developing derivative products. The Department also closely monitors the obligation to disclose information, promptly detect and report any unusual signs.
By the end of September, 100% of listed enterprises had completed their financial statements for 2024 and the 2025 semi-annual period according to regulations. From 2025, all enterprises on HOSE have published information in English, 98% fully comply with long-term disclosure obligations, helping to continue to improve transparency and market reputation, the number of documents handling violations decreased by 4.4% compared to the same period in 2024.
In the last months of the year, HOSE will continue to ensure safe operations, upgrade information technology infrastructure, and deploy cooperation in developing indexes with FTSE Russell according to the Memorandum of Understanding between VNX and FTSE Russell. At the same time, the Department reviews and supplements the professional process according to Decree 245/ND-CP and Law No. 68/2025/QH15, aiming to standardize internal governance and improve professional capacity.
4 key task groups
Speaking at the meeting, Minister Nguyen Van Thang praised the results that the State Securities Commission (SSC) and HOSE have achieved, especially the FTSE Russell upgrading the Vietnamese stock market and successfully implementing the KRX system, helping the market operate stably and smoothly.
Goals on capitalization and trading scale increased by over 30% compared to 2024, showing that the Vietnamese stock market is developing impressively, the Minister emphasized. He assessed the KRX system as an important foundation for the goal of sustainable upgrading and development, when it can currently process more than 6 million orders/day.
The Minister suggested that HOSE closely coordinate with securities companies to build the stock market into a medium and long-term capital mobilization channel, supporting businesses and the economy. The upgrading goal is not only to attract international investment funds but also to help Vietnamese enterprises have more opportunities to mobilize capital for production and business, said the Minister.
Concluding the meeting, Minister Nguyen Van Thang requested to focus on four key groups of tasks, including: Maintaining and continuing to promote the market, enhancing transparency and governance, implementing the VN100 index to limit the risk of manipulation; improving the quality of goods, considering allowing FDI enterprises and IPO enterprises to qualify for early listing; reviewing foreign ownership ratios in some industries, boldly proposing expansion with non-sensitive sectors; improving the capacity of securities companies, encouraging consolidation and merger to increase competitiveness.
We must do it very urgently, with a high sense of responsibility, Minister Nguyen Van Thang emphasized.
