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 is valued at nearly 8.3 million billion VND, with 8 groups from private ecosystems holding 29% of the total value, equivalent to 2.4 million billion VND. Notable groups include Vingroup, Masan Group, FPT, Gelex, T&T Group, and Sovico Group. Vingroup leads significantly with 1.11 million billion VND, accounting for 45% of this group and 13% of the entire market, attributed to the strong growth of VIC and VHM stocks. Other groups like Hoàng Huy and Gelex also saw impressive growth, but their capitalizations remained lower at 24,000 billion and 157,000 billion VND, respectively. T&T Group’s ecosystem improved to 81,000 billion VND, while FPT and Masan have capitalizations of over 309,000 billion and 540,000 billion VND respectively. Although FPT is down 9% since the beginning of the year, Masan has risen by 74% largely due to TCB’s stability.