Foreign Capital Floods Back into Vietnam’s Stock Market, Which Stocks Still Have Room for the Wave?

Foreign capital is returning to Vietnam’s stock market after a long period of net selling. Since early July, foreign investors have bought a net amount of over 9,200 billion VND on HoSE, driven by the prospect of FTSE index upgrades. Many large-cap stocks like VCB, VIC, VHM, and FPT still have room for foreign investment, creating opportunities for the upcoming wave. Stocks such as FPT have opened up millions of units of room after previous net selling. However, many stocks have lower actual foreign ownership limits due to significant shares being held by state shareholders and strategic partners. To qualify for FTSE investment, the stocks must have a minimum market capitalization of 150 million USD, a free float ratio of at least 5%, and at least 20% foreign room remaining. Stocks anticipated to benefit from the upgrade include VIC, VHM, VNM, HPG, and VCB. Additionally, some P-Notes have contributed to the net buying by foreign investors.