The VN-Index has increased by about 4% since the beginning of 2025, but the VNDiamond index, known as the “diamond index”, has decreased by over 5%, primarily due to the falling prices of major stocks like FPT, MWG, and PNJ. FPT has lost 20% of its value from its peak in mid-January, now at its lowest level since August 2024. PNJ is also at a one-year low after a nearly 16% drop this year, negatively affected by the gold market and weak demand. MWG’s performance has been relatively stable but hasn’t gained momentum. The rebalancing of the VNDiamond portfolio for Q2 2025 is set for April 21, with the potential addition of CTD and the exclusion of VRE due to FOL regulations. VNDiamond, first announced on November 18, 2019, requires stocks to achieve a minimum foreign ownership limit (FOL) of 95% to qualify. There are currently 4 ETFs in Vietnam using the VNDiamond index as a reference, totaling over 12 trillion VND.
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