Reduce the number of enterprises with capitalization over 1 billion USD

At the end of the last trading session of December 2024, the VN-Index reached 1,266.78 points, up more than 12% compared to the beginning of the year. Most industry indices grew in 2024. However, the number of enterprises with a capitalization of over 1 billion USD recorded a decrease compared to the previous year.

Illustration photo: Minh Phuong/Tin Tuc Newspaper

Statistics from the Ho Chi Minh City Stock Exchange (HOSE) show that most industry indexes on HOSE have positive growth in 2024. Many industries even have growth rates that surpass the VN-Index.

Notably, the information technology industry index (VNIT) increased by 76.47% over the past year. The strong growth of this industry is supported by the trend of investing in technology stocks globally, in the context of the booming demand for artificial intelligence, semiconductor technology, etc.

In addition to VNIT, the indexes of several other industries also recorded strong growth over the past year, such as the consumer goods industry (VNCOND) increased by 32.18%; the healthcare industry index (VNHEAL) increased by 27.13%; the healthcare industry (VNHEAL) increased by 27.13% and the finance industry (VNFIN) increased by 21.5%.

As of December 31, 2024, there are 40 enterprises on HOSE with a capitalization of more than 1 billion USD; of which, there are 2 enterprises with a capitalization of over 10 billion USD, which are Joint Stock Commercial Bank for Foreign Trade of Vietnam (code: VCB) and Joint Stock Commercial Bank for Investment and Development of Vietnam (BID).

Compared to the end of 2023, the number of listed companies with capitalization of over 1 billion USD last year was 2 fewer. Notably, the Top 10 companies with the largest capitalization on the HOSE floor in 2024 had many fluctuations compared to the previous year.

Among them, VCB is still the enterprise with the largest market capitalization (VND 509,725 billion) and BID maintains its position in the second position with VND 259,002 billion. However, in the following positions, there are quite big changes.

In 2024, the IT industry index recorded the strongest increase on the HOSE floor, thereby helpingFPT Corporation (code: FPT) rise to 3rd place in this list, instead of 10th place at the end of 2023. FPT shares increased by more than 80% over the past year, causing the Group's capitalization to increase by a "huge" amount of more than VND 100,000 billion, to VND 224,338 billion by the end of 2024.

The next two positions belong to two banks, respectively Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) with VND 202,986 billion and Vietnam Technological and Commercial Joint Stock Bank (TCB) with VND 174,149 billion. These rankings have all increased significantly compared to the previous year; in which, CTG moved from 8th to 4th place, and TCB increased sharply from 11th to 5th place.

Hoa Phat Group's HPG shares have not fluctuated much in the past year and the Group still holds the 6th position in the Top 10 largest capitalization on the HOSE. By the end of 2024, Hoa Phat's capitalization will be recorded at VND 170,460 billion, an increase of about VND 8,000 billion.

The sluggish real estate market has caused real estate stocks to not have many fluctuations in the past year, many stocks even have negative growth. The capitalization of Vinhomes Joint Stock Company (VHM) has also decreased sharply, from 3rd place in 2023 to 7th place in 2024. As of December 31, 2024, VHM's capitalization is only 164,296 billion VND, "evaporating" nearly 24,000 billion VND.

The remaining 3 names in the Top 10 belong to Vietnam Gas Corporation (GAS); Vingroup Corporation (VIC) and Vietnam Prosperity Joint Stock Commercial Bank (VPB). Notably, the positions of all 3 of these enterprises have gone down compared to 2023. In particular, GAS dropped from 4th place to 8th place; VIC from 5th place to 9th place and VPB from 7th place to 10th place.

By the end of 2024, there were 527 securities listed and traded on HOSE. Of which, there were 393 stock codes, 4 closed-end fund certificates, 16 ETF fund certificates and 114 covered warrant codes with a total listed securities volume of more than 168.54 billion securities. The capitalization value of stocks on HOSE reached more than VND 5.2 million billion, equivalent to 50.95% of GDP in 2023 (GDP at current prices), accounting for more than 93.92% of the total capitalization value of listed stocks in the whole market.

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