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

As of July 18, 2025, Vietnam’s stock market has a market capitalization of nearly 8.3 trillion VND, with 8 business clans holding 2.4 trillion VND, accounting for 29% of the total value. These clans include Vingroup, Masan Group, FPT, GELEX, T&T Group, Sovico Group, Hoàng Huy, and DNP-Tasco. Vingroup stands out with 4 stock codes (VIC, VHM, VRE, VEF) accounting for 45% of the clan’s value, equivalent to 1.11 trillion VND. Vingroup’s market capitalization has increased by 186% this year, mainly due to the development of VIC and VHM. Clans like Hoàng Huy and GELEX also report capitalization growth, although still small compared to Vingroup. T&T Group is also performing well with a market capitalization exceeding 81 trillion VND. FPT and Masan Group have capitalizations of 309 trillion and 540 trillion VND respectively, with FPT decreasing by 9% while Masan increased by 74%, mainly thanks to TCB’s growth.