The Vietnamese stock market has rebounded, surpassing 1,700 points, primarily driven by the significant rise of Vingroup stocks (ticker VIC), which reached 269,900 VND per share, 6.66 times higher than the start of the year. VIC contributed 222 points to the VN-Index, while the Vingroup quartet (VIC, VHM, VPL, VRE) together contributed 320 points. The total market capitalization of this group exceeds 1.7 trillion VND, accounting for nearly 1/4 of the total value of the HoSE. Although the VN-Index has risen, many large stocks have dropped by 20-30%, causing an imbalance in the market. However, forecasts for December are optimistic, with expectations of bottom-fishing funds and strong corporate revenue growth. Some foreign funds predict that the VN-Index could reach 3,200 points by 2028, emphasizing macroeconomic factors supporting economic growth and business profits. The current market valuation is also attractive, opening up significant re-rating opportunities after Vietnam’s upgrade to emerging market status.
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