In the April 8 trading session, after receiving information that the upgrade roadmap will remain unchanged and that the US-Iran ceasefire will last for two weeks, stocks of all sizes across Vietnam's three exchanges surged simultaneously.

The VN-Index rose nearly 76 points (+4.53 percent) before entering the ATC session, eventually closing with a gain of over 79 points to 1,756.55 points. Liquidity reached a relatively high level of VND33.4 trillion on HoSE (HCMC Stock Exchange).

Among the VN30 pillar stocks, 29 rose sharply, with only LPBank (LPB) declining. Stocks related to billionaire Pham Nhat Vuong hit the ceiling price. Vingroup (VIC) increased VND10,000 to VND153,400/share. Vinhomes (VHM) rose VND8,000 to VND123,000/share. Vincom (VRE) gained VND1,800 to VND27,600/share.

Techcombank (TCB) shares hit the ceiling, rising VND2,000 to VND30,700/share. Sacombank (STB) also hit the ceiling, rising VND4,300 to VND66,000/share.

SSI Securities (SSI) also hit the ceiling, up VND1,900 to VND29,400/share. 

Many other stocks increased strongly. In the early morning of April 8, US President Donald Trump agreed to stop attacking Iran for two weeks and the Strait of Hormuz was reopened under certain conditions.

Trump withdrew his previous threats about being ready to order the destruction of Iran's "entire civilization." WTI oil prices dropped 19 percent in the early morning to the $91/barrel threshold.

However, by 2:45pm, the oil price drop narrowed to 14.7 percent and is currently at $96.4/barrel. Iran and the US will enter two weeks of negotiations with each other in Islamabad, the capital of Pakistan.

Iran's 10-point proposal includes requirements such as the US withdrawing combat forces from bases in the region, lifting all sanctions, releasing Tehran's assets currently frozen abroad, and providing full compensation for war damages. This proposal also offers a mechanism allowing ships to pass through the Strait of Hormuz in a controlled manner.

Which stocks will benefit from the market upgrade?

In the early morning of April 8, FTSE Russell announced its interim market classification report as part of the March 2026 stock market classification review.

FTSE Russell's announcement recognized important progress in the Vietnamese stock market (TTCK) regarding market access through global securities companies. The organization officially confirmed it would maintain the roadmap from a Frontier Market to a Secondary Emerging Market as announced in October 2025.

The Secondary Emerging Market group includes countries such as China, India, Indonesia, Saudi Arabia, among others.

Since the annual review in September 2025, Vietnam has continued to promote the development of the global brokerage model. Circular 08/2026/TT-BTC officially established this model and introduced improvements to support the Non-Pre-Funding (NPF) regulatory framework.

Regulators, domestic and international brokerage firms, custodians, and trading firms have agreed on the key operational components, with the remaining work focusing on finalizing bilateral agreements between global and domestic brokerage firms.

To ensure a smooth transition aligned with local market capacity, Vietnam’s inclusion in FTSE Russell global indices will be implemented in phases, starting in September 2026 and concluding in 2027.

This upgrade marks a major milestone, affirming Vietnam’s development and recognition by the global investment community. It is expected to attract large-scale international capital inflows, improve liquidity, and strengthen Vietnam’s position in the global financial system.

According to SSI, passive inflows could reach $1.67 billion over several quarters following the upgrade, mainly from global ETFs tracking FTSE Emerging Markets indices.

Beyond passive funds, the upgrade could also attract broader investment flows. Improved accessibility, transparency, and market operations are likely to increase interest from international investors.

SSI Research noted that ETF inflows typically concentrate on stocks meeting criteria such as large market capitalization, high liquidity, strong free float, and fewer foreign ownership restrictions.

Previously, after the September 2025 review, VNDirect estimated that Vietnam could attract around $1–1.5 billion from mutual funds and ETFs tracking FTSE indices. Meanwhile, HSBC projected potential foreign inflows of $3.4 to 10.4 billion from both active and passive funds after the upgrade.

VNDirect believes that several stocks likely to benefit directly from the FTSE upgrade include VIC, VHM, VCB, SSI, MSN, VNM, FPT, HPG, etc.

Recently, cash flow has shown signs of returning to the stock market as the real estate and gold markets cool down, while the cryptocurrency market faces instability, and Vietnam sets high economic growth targets.

Manh Ha