The MAG-7 of Vietnam’s stock market consists of four major banks (Vietcombank, BIDV, VietinBank, Techcombank) and three stocks from the Vingroup group (Vingroup, Vinhomes, Vinpearl), with a total market capitalization of nearly 1.9 trillion VND, accounting for about one-third of the HoSE. This group is primarily focused on the financial banking and real estate sectors, which dominate the market, comprising about 60% of the total capitalization of Vietnam’s stock market, contrasting with the U.S. market, where technology and healthcare are more prevalent. The market is expected to shift with a wave of IPOs worth 47 billion USD anticipated in the 2027-2028 period, with many major firms expected to participate. The Vietnamese government encourages the development of the private economy and technology to create sustainable growth and enhance global competitiveness.
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