Is the title of the largest private enterprise on the stock exchange about to change hands?

On March 13, Vingroup stocks saw impressive growth, with VIC hitting the ceiling price of 51,400 VND, the highest in 18 months. VHM of Vinhomes and VRE of Vincom Retail also rose by 1.81% and 2.73%, respectively. Since the beginning of the year, Vingroup’s market capitalization has increased by about 41 trillion VND (26.8%), while Vinhomes has increased by 32 trillion VND (19.5%), currently closely competing with FPT (201 trillion VND). At one point during the trading session, Vinhomes’s market capitalization surpassed FPT, reaching over 203.5 trillion VND. Conversely, FPT and Masan Consumer’s market caps have significantly decreased, with FPT losing 24 trillion VND, dropping from 5th to 6th place. This decrease may be attributed to a low-cost AI model from China adversely impacting global tech stocks.