The Vietnamese stock market has returned to the 1,700-point mark, driven by Vingroup’s stock (VIC) of billionaire Pham Nhat Vuong, which has increased 6.66 times since the beginning of the year. VIC contributed 222 points, and the “super quartet” of Vingroup (VIC, VHM, VPL, VRE) accounted for a total of 320 points to the VN-Index while the index rose 435 points during the same period. Vingroup is now the first company in Vietnam to have a market capitalization of over 1 trillion VND, reaching a total capitalization of 1.7 trillion VND, accounting for nearly a quarter of HoSE’s value. Many major stocks have experienced significant declines, especially in the banking and real estate sectors, leading to an imbalance in the market. However, there are expectations for recovery in December due to new liquidity and supportive factors. Long-term predictions from PYN Elite Fund raise the VN-Index goal to 3,200 points by 2028, with expected average profit growth of 18–20%. Dragon Capital also holds an optimistic view regarding profit growth and sees potential for the market.
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