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

As of July 18, 2025, the total value of Vietnam’s stock market reached nearly 8.3 million billion VND. Among this, 8 ‘clans’ of stocks account for 29% of the total market capitalization, equivalent to over 2.4 million billion VND. The major private enterprises include Vingroup, Masan Group, FPT, GELEX, T&T Group, Sovico Group, Hoàng Huy, and DNP – Tasco. Notably, Vingroup with 4 stocks (VIC, VHM, VRE, VEF) contributes 1.11 million billion VND, which is 45% of the group and 13% of the market. Vingroup’s market capitalization has increased by 186% in just 6 months. Some clans like Hoàng Huy and GELEX also show significant growth rates, but their capitalizations are still smaller. T&T Group, with 4 members, reached 81,000 billion VND, but its growth is uneven. FPT and Masan Group have capitalizations of over 309,000 and 540,000 billion VND respectively. This volatility indicates a concentration of power among the stock giants in a developing market.