Vietnam Stock Market Dashboard & Analysis

Foreign investors need to follow specific procedures to invest in the vn stock market:

1. Choose a reputable broker: Select a large, established securities company with English-speaking staff such as SSI Securities, VCSC, or HSC.
2. Open a securities trading account: Submit required documentation including passport/ID, proof of address, and other identification documents.
3. Obtain a Securities Trading Code (STC): This unique identifier is mandatory for all foreign investors trading on Vietnam's stock exchanges.
4. Open a capital account: You'll need a specialized bank account at an authorized Vietnamese bank for trading funds.
5. Fund your account: Transfer investment capital to your Vietnamese capital account.
6. Begin trading: Once your account is set up and funded, you can start trading Vietnamese stocks through your broker's platform.

Note that foreign investors face certain restrictions, including foreign ownership limits in specific sectors and inability to engage in margin trading.

The largest Vietnamese companies by market capitalization typically include:

• Vinhomes (VHM): Real estate development subsidiary of Vingroup
• Vingroup (VIC): Vietnam's largest conglomerate with interests in real estate, retail, and manufacturing
• Vietcombank (VCB): One of Vietnam's largest state-owned commercial banks
• Bank for Investment and Development (BIDV): Major state-owned commercial bank
• PetroVietnam Gas (GAS): Leading natural gas company
• Vietnam Dairy Products (VNM): Vietnam's largest dairy company
• Hoa Phat Group (HPG): Vietnam's largest steel producer
• Masan Group (MSN): Consumer goods and resources conglomerate
• Mobile World (MWG): Leading electronics and grocery retailer
• Techcombank (TCB): Major private commercial bank

Market capitalization rankings change regularly based on stock performance.

Our Vietnam Stock Dashboard provides comprehensive tools for analyzing vn stocks:

1. Sector Comparison Tool: Compare performance metrics across different industry sectors.
2. Relative Rotation Graph (RRG): Visualize industry sector rotation and identify sectors that are leading, weakening, lagging, or improving.
3. Financial Metrics Analysis: Evaluate key metrics including:
   • P/E, P/B, and P/S ratios for valuation
   • ROE, ROA, and profit margins for profitability
   • Debt-to-equity ratio and current ratio for financial health
   • Revenue and earnings growth rates
4. Stock Screening: Filter stocks based on custom criteria such as market cap, profitability, valuation ratios, and growth rates.
5. Technical Analysis: Access price charts and technical indicators for timing decisions.

For comprehensive research, combine fundamental analysis, technical analysis, and macroeconomic factors affecting the Vietnamese economy.

Ho Chi Minh Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX):

• Morning session: 9:00 AM - 11:30 AM (Vietnam time, GMT+7)
• Lunch break: 11:30 AM - 1:00 PM
• Afternoon session: 1:00 PM - 3:00 PM

Pre-market trading:

• 9:00 AM - 9:15 AM (order matching starts at 9:15 AM)

Post-market trading (HOSE only):

• 3:00 PM - 3:45 PM

Trading occurs Monday through Friday, except for Vietnamese national holidays. Time zone difference is an important consideration for international investors, as Vietnam operates on GMT+7.

The Vietnam stock market has significant growth potential in 2025, with several key factors influencing its trajectory:

• Economic Growth: Vietnam's GDP is projected to grow by 6.1-6.5% in 2025, outpacing regional counterparts including China, Indonesia, and Thailand.
• Market Upgrade Prospects: Vietnam is pursuing an upgrade from "frontier market" to "emerging market" status with FTSE, which could attract substantial foreign investment inflows. The FTSE announcement may come in 2025, while MSCI inclusion is expected between 2026-2028.
• Market Valuation: The market capitalization of Vietnam's stock market is projected to reach approximately US$288.60 billion by 2025, with an annual growth rate of 7.89%.
• Foreign Investment: The relaxation of pre-funding settlement procedures for foreign investors has removed a key obstacle to Vietnam's market upgrade.
• Sector Opportunities: Banking, information technology, manufacturing, and renewable energy sectors offer particularly promising investment opportunities.
• Challenges: Recent global trade tensions and tariff concerns have led to some foreign investor outflows, creating short-term volatility.

Overall, Vietnam's strong economic fundamentals, young workforce, increasing FDI, and potential market upgrade make it an attractive market with significant long-term growth potential.

Vietnam has two main stock exchanges with distinct characteristics:

Ho Chi Minh Stock Exchange (HOSE):

• Vietnam's primary and largest stock exchange
• Lists larger, more established companies
• Higher market capitalization and liquidity
• Uses the VN-Index as its benchmark index
• More stringent listing requirements
• By June 2025, HOSE will focus on listed stocks, fund certificates, warrants, and stocks for the unlisted public company market

Hanoi Stock Exchange (HNX):

• Smaller secondary exchange
• Lists smaller companies, bonds, and derivatives
• Lower market capitalization and trading volume
• Uses the HNX-Index as its benchmark
• Less stringent listing requirements compared to HOSE
• By June 2025, HNX plans to complete transferring its listed stocks to HOSE and focus exclusively on bonds and derivatives

Many Vietnamese companies start on the HNX and then move to HOSE as they grow and meet the more stringent listing requirements.

Foreign ownership limits (FOLs) in vn stocks vary by sector:

• Uncapped sectors: Most manufacturing and some service sectors have no foreign ownership restrictions
• Banking: Total foreign ownership is limited to 30% (5% for individual non-strategic investors, 15% for institutional non-strategic investors, 20% for strategic partners)
• Aviation: Maximum 34% foreign ownership for Vietnamese airlines
• Real Estate: No specific percentage cap, but restrictions on land ownership rights
• Media, Telecommunications, National Security: Varying restrictions, often requiring majority local ownership
• Listed Companies: May have company-specific limits defined in their charter

The government has stated its intention to remove foreign ownership limits for investments in most industries, but implementation has been gradual. Many Vietnamese blue-chip companies have reached their foreign ownership limits, creating a premium for foreign investors.

When evaluating Vietnamese stocks, focus on these key financial metrics:

Valuation Ratios:

• P/E (Price-to-Earnings): Compare with industry averages, typically 10-15 for Vietnamese market
• P/B (Price-to-Book): Particularly important for assessing financial and real estate companies
• EV/EBITDA: Provides perspective on enterprise value relative to operating performance

Profitability Metrics:

• ROE (Return on Equity): Look for consistently high ROE (>15%)
• Net Profit Margin: Compare with industry peers to identify efficiency
• Gross Margin Trends: Indicators of pricing power and cost management

Growth Indicators:

• Revenue Growth: Consistent year-over-year growth
• Earnings Growth: Should ideally outpace revenue growth
• Dividend Growth: Sign of financial health and shareholder returns

Financial Health:

• Debt-to-Equity Ratio: Lower ratios indicate stronger balance sheets
• Current Ratio: Measure of short-term liquidity (ideally >1.5)
• Interest Coverage Ratio: Ability to meet interest obligations

Vietnam-Specific Considerations:

• Foreign Room: Available capacity for foreign investors
• State Ownership: Government involvement can impact decision-making
• Parent-Subsidiary Relationships: Common in Vietnamese corporate structures

Our VN Stock Dashboard provides comprehensive data on these metrics to facilitate informed investment decisions.

Investors in Vietnamese stocks should be aware of several key risks:

• Regulatory Environment: Regulations can change frequently with limited notice, affecting investment strategies and ownership rights.
• Liquidity Constraints: Despite improvements, liquidity remains lower than developed markets, particularly for smaller stocks.
• Foreign Exchange Risk: Fluctuations in the Vietnamese dong can impact returns for foreign investors.
• Corporate Governance: Varying standards of transparency, disclosure, and shareholder protections.
• Economic Concentration Risk: Heavy dependence on certain sectors (manufacturing, exports) and trading partners (US, China).
• Information Asymmetry: Language barriers and different reporting standards can create challenges in obtaining reliable information.
• Market Manipulation: Instances of market manipulation and insider trading have occurred.
• Political Risk: As a one-party state, policy changes can significantly impact market conditions.
• Foreign Ownership Limits: Restrictions in certain sectors can limit investment opportunities.
• Market Classification Risk: Delayed upgrade to emerging market status could affect expected capital inflows.

Diversification, thorough research, and working with experienced local partners can help mitigate these risks.

Vietnam's economic growth directly influences its stock market performance through several channels:

• Corporate Earnings Growth: Strong GDP growth (projected at 6.1-6.5% for 2025) typically translates to higher corporate profits, supporting stock valuations.
• Foreign Direct Investment (FDI): Increasing FDI inflows strengthen Vietnamese companies' capabilities and market positions, particularly in manufacturing and technology sectors.
• Domestic Consumption: Rising incomes (GDP per capita reached ~$4,163 in 2022) drive consumer spending, benefiting retail, consumer goods, and financial services stocks.
• Infrastructure Development: Government infrastructure investment (targeted to increase in 2025) creates opportunities for construction, materials, and industrial companies.
• Export Performance: As a major export hub, Vietnam's stock market is sensitive to global trade conditions and export growth.
• Banking System: Economic expansion drives credit growth and financial inclusion, supporting banking sector stocks.
• Sector Rotation: Different economic growth phases benefit different sectors, illustrated by our Relative Rotation Graph (RRG) tool.

Vietnam's transition toward higher-value manufacturing, digital economy initiatives, and sustainable development goals are reshaping investment opportunities on its stock market.