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 reached a market capitalization of nearly 8.3 million billion VND, with 8 stock ‘clans’ holding about 2.4 million billion VND, accounting for 29% of the total market value. These clans are primarily from major private enterprises like Vingroup (1.11 million billion VND), Masan Group, FPT, GELEX, T&T Group, Sovico Group, Hoang Huy, and DNP – Tasco. Vingroup is the ‘leader’ with 45% of the group’s value and 13% of the total market cap. The capitalization of Vingroup’s ecosystem increased by 186% in the first 6 months of the year, driven by the Vingroup (VIC) and Vinhomes (VHM) stocks. Other clans also saw significant growth, such as Hoang Huy (86%) and GELEX (83%), although some stocks were delisted. T&T Group reported a 69% growth with a total capitalization of over 81 trillion VND. FPT and Masan Group had capitalizations of over 300 trillion and 540 trillion VND, respectively.