Vietnam's stock market continued its bullish momentum on August 20 with a new record high for the VN-Index and exceptionally high liquidity.

Despite strong selling pressure that at one point pulled the VN-Index down by over 20 points, a late-session rally in key stocks pushed the index up by the close. The market remained predominantly in the red with 317 declining stocks, only 93 gaining, including 12 hitting their upper limit.

By the end of the session, the VN-Index rose 10.16 points (+0.61%) to close at 1,664.36 - a new historic peak. Meanwhile, the HNX-Index and UPCoM-Index fell.

The standout performers were the “Vin Group” stocks led by billionaire Pham Nhat Vuong and several banking stocks.

Vingroup (VIC) surged by VND 6,000 to VND 124,200 (USD 5.04), while Vinhomes (VHM) rose VND 5,100 to VND 99,000 (USD 4.01) per share. These two stocks played a crucial role in supporting the market throughout the session.

Banking stocks also rallied strongly, with LPBank (LPB), VIB Bank (VIB), and VPBank (VPB) all hitting their daily ceiling. Other banks such as Techcombank (TCB), Sacombank (STB), SeABank (SSB), and VietinBank (CTG) also posted significant gains.

HDBank (HDB), where Nguyen Thi Phuong Thao serves as Vice Chairwoman, saw a pullback after a strong rally in previous sessions, including a ceiling hit the day before.

Despite the slight drop, HDBank remains near its all-time high, and Thao’s net worth continues to soar. As of August 20, according to Forbes, her wealth reached USD 3.7 billion.

Compared to May, her net worth has risen by USD 1.2 billion, solidifying her position as Vietnam’s second-richest individual, behind only Pham Nhat Vuong. She now ranks 1,069th on the global billionaire list. The surge in her wealth is attributed to the impressive performance of the two companies she leads: HDBank and VietJet.

HDBank’s shares have had a booming month, climbing from VND 24,000 (USD 0.97) to over VND 32,000 (USD 1.30), a gain of over 33%. On the morning of August 19, HDB shares hit the ceiling price of VND 32,500 (USD 1.32), up 6.56%, with more than 34 million shares traded.

The banking sector’s rally comes as many financial institutions report strong profits in the first half of 2025. Credit growth remains high, and some banks, including HDBank and VPBank, benefited from a 50% reduction in required reserve ratios as part of ongoing restructuring programs.

Investor confidence in HDBank was further boosted when Nguyen Thi Phuong Thao appeared as host at the inauguration of the Saigon Marina International Financial Centre (Saigon Marina IFC), reinforcing her central role in shaping Ho Chi Minh City’s future as a global financial hub.

Thao holds more than 3.7% of HDBank shares, while Sovico Group, where she is a founding shareholder, holds over 12.9%.

Meanwhile, VietJet (VJC), where she serves as Chairwoman, also recorded strong growth, rising from VND 93,000 (USD 3.77) in mid-July to around VND 145,000 (USD 5.89) by mid-August - a 55% increase.

As of August 20, Forbes' ranking shows Pham Nhat Vuong remains Vietnam’s wealthiest with USD 12.7 billion, followed by Nguyen Thi Phuong Thao.

Tran Dinh Long ranks third with USD 2.8 billion (1,432nd globally), followed by Techcombank Chairman Ho Hung Anh with USD 2.7 billion, and Masan Chairman Nguyen Dang Quang with USD 1.2 billion.

Manh Ha