Why was Vietnam upgraded, but there is still a review period in March next year?

Many investors are wondering why Vietnam was announced to be upgraded, but it is expected that by September 21, 2026, Vietnamese stocks will be included in the emerging market index basket after undergoing another mid-term review in March.

Vietnam's stock market officially upgraded to secondary emerging - Photo: QUANG DINH

How did the stock market react?

On the morning of October 8, the stock market started off with excitement when news that Vietnam was officially upgraded to a secondary emerging market by FTSE Russell spread positively to investor sentiment.

Immediately after the opening price matching session (ATO), VN-Index increased by 15 points, surpassing the 1,700 point mark - a very strong psychological barrier that requires significant push to overcome.

On the Ho Chi Minh City Stock Exchange (HoSE), there were 222 codes increasing in price, nearly 10 times the number of codes decreasing, showing that green color covered the market.

The VN30 basket - representing large-cap stocks - also recorded 29/30 stocks increasing, contributing to supporting the general index.

However, the excitement did not last long. More than an hour after the transaction, the liquidity poured into the market was less than 10,000 billion VND.

The securities group - considered to benefit directly from the upgrade news - only increased around 2.5 - 3%, then fell below the 2% mark for a series of "hot" codes such as: SSI, VIX, VND, VCI... While the banking group also only increased around the 1% mark.

Near the end of the morning session, VN-Index only increased by more than 5 points, falling back to the 1,691 point mark.

Mr. Trinh Thanh Can - General Director of Kafinai Securities - forecasted with Youth: After the upgrade officially took effect, most of these markets recorded an average correction of about 10-12%, due to short-term profit-taking and short-term cash withdrawals. But then the market entered a more stable accumulation phase and established a new, more sustainable price level.

When will new stocks be included in the emerging market index?

At the special Cafe program on the morning of October 8, Mr. Pham Luu Hung - chief economist and director of SSI Research - emphasized that this is very positive information for the Vietnamese stock market.

After FTSE Russell announced the upgrade early this morning, it is expected that by September 21, 2026, Vietnamese stocks will be included in the emerging market index basket.

"Between now and then, FTSE has mentioned a number of additional issues that should be reassessed in March 2026, mainly relating to the issue of global brokers," he said.

FTSE Russell has made it clear that Vietnam has met all the key criteria and resolved the difficulties and obstacles faced by investors. Previously, foreign investors were concerned about opening accounts.

Regarding the above issue, The Securities Commission, the State Bank and relevant agencies have amended many circulars to remove difficulties in opening foreign investment accounts.

By this time, the process has become much more convenient and simpler than before.

Mr. Hung also noted that the problem does not only come from Vietnam, but also lies in compliance regulations from international investment organizations.

"This problem is not too difficult, it will probably only take about 2 months to evaluate the feasibility," Mr. Hung shared.

According to Mr. Hung, FTSE's clarification of the contents that need to be reviewed in March 2026 is not a big problem, but rather a "better" and more reasonable thing for Vietnam to be more proactive.

"If we know clearly what needs to be adjusted now, it will be easier to handle. But if we are completely upgraded today and they only discover something that needs to be added in March next year, then the time will be very urgent," he analyzed.

Mr. Hung said that with what Vietnam has prepared and committed to improve, fully meeting the additional requirements is just a technical issue.

The representative of the Securities Commission also said that this event is an important milestone marking the strong development of the Vietnamese stock market.

The upgrade of Vietnam's stock market to secondary emerging market status marks the beginning of a new phase of development.

The Commission representative affirmed that it will continue to work closely with FTSE Russell to ensure the official transition process follows the roadmap.

Source: https://baoquangninh.vn/vi-sao-viet-nam-duoc-nang-hang-nhung-van-con-ky-ra-soat-thang-3-nam-sau-3379185.html