MAG-7 is a term used to refer to the seven largest companies on the Vietnamese stock market, including four banks (Vietcombank, BIDV, VietinBank, Techcombank) and three affiliates of “Vingroup” (Vingroup, Vinhomes, Vinpearl). The total market capitalization of this group is nearly 1.9 trillion VND, accounting for about one-third of the HoSE market. These stocks primarily belong to the banking and real estate sectors, although Vingroup is transitioning into industrial and technology fields. Currently, the combined capitalization from finance and real estate represents around 60% of the entire market, while sectors like technology and healthcare are underrepresented. This creates an imbalance compared to the U.S. stock market. However, Vietnam’s stock market is expected to see change in the future, with several large-scale IPOs anticipated between 2027-2028, as many prominent names from various sectors prepare to enter the market. The Vietnamese economy is also in a pivotal phase to focus on technology development and private sector growth, creating opportunities for businesses to expand and pursue sustainable growth potential.
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