8 ‘clans’ holding 2.4 trillion VND, ‘dominating’ 1/3 of Vietnam’s stock market

As of July 18, 2025, Vietnam’s stock market reached a market capitalization of nearly 8.3 trillion VND, of which 29% belongs to 8 ‘clans’ of major stocks, equivalent to 2.4 trillion VND. These ‘clans’ mainly come from private enterprises such as Vingroup, Masan Group, FPT, GELEX, and T&T Group. Vingroup, with 4 stock codes, accounted for 45% of this total market capitalization. The capitalization of this ecosystem has increased by 186% since the beginning of the year, with Vingroup (VIC) and Vinhomes (VHM) recording strong growth. Smaller clans like Hoàng Huy and GELEX have also shown significant growth with increases of 86% and 83% respectively. The T&T Group continues to grow strongly but mainly relies on its two major members. Both FPT and Masan Group have market caps in the hundreds of trillions but exhibit divergent growth patterns.