Foreign capital returns to Vietnam’s stock market, which stocks still have room for the wave?

Foreign capital is making a strong comeback in Vietnam’s stock market, with over 9.2 trillion VND net purchased since the beginning of July, the highest in nearly three years. The main reason is the expectation of an upgrade of Vietnam’s stock market by FTSE at the end of the year. Large stocks like VCB, VIC, VHM, FPT, and MSN still have plenty of foreignroom to attract this capital. Some previously saturated stocks like FPT have opened up their room again. Meanwhile, bank stocks like TCB and MBB have exhausted their room for foreign capital. However, it should be noted that the actual room for these stocks is lower due to many shares being owned by the State, strategic shareholders. The necessary standards for a stock to be included in FTSE’s investment list include a minimum market capitalization of 150 million USD, a free float ratio of at least 5%, and at least 20% foreign room left. Expected benefiting stocks from the upgrade include VIC, VHM, VNM, and HPG. P-Notes are also thought to contribute to foreign buying power, allowing foreign investors to hold large shares in Vietnam.