Vietnam’s stock market rallied sharply on the morning of October 6 as it heads into a crucial trading milestone. All 30 blue-chip stocks in the VN30 group recorded gains, pushing the VN-Index up 20 points to reach 1,666.

At the opening of the October 6 trading session, all VN30 blue-chip stocks rose simultaneously, bringing fresh energy to a market that had recently been sluggish. Over the past week, the market saw a drop in both prices and liquidity, with daily trading value falling from 2.05–3.08 billion USD to just 820–1.03 million USD.

The “Vin family” of stocks remained the backbone of the Vietnamese stock exchange.

Vingroup (VIC) surged by over 0.41 USD per share at opening, reaching 7.65 USD per share – a record high compared to just 1.64 USD earlier this year.

This means Vingroup shares have surged by around 4.7 times in just over nine months, significantly contributing to the VN-Index reaching its current record high of nearly 1,700 points. Pham Nhat Vuong, chairman of Vingroup, now holds a net worth of 17 billion USD, ranking 145th globally.

Vinhomes (VHM) also made notable gains, climbing by 0.16 USD to 4.26 USD per share.

Recently, Pham Nhat Vuong contributed an additional 60 million VIC shares, valued at approximately 434 million USD, to VinEnergo – the investor behind the Hai Phong LNG Thermal Power Plant project.

Previously in July, he had injected more than 78.5 million Vingroup shares (worth nearly 344 million USD) into VinSpeed, the company spearheading investment in the North-South high-speed railway project. VinSpeed now holds over 135.6 million Vingroup shares, equivalent to 3.5% of the company’s charter capital. The firm is actively recruiting personnel for high-speed rail projects such as Ho Chi Minh City - Can Gio and Hanoi - Quang Ninh.

Banking, retail, and steel stocks also rebounded strongly after several sessions that had put significant pressure on investors.

FPT Corporation (FPT), chaired by Truong Gia Binh, rose by 0.08 USD to reach 3.91 USD per share. Masan Group (MSN), led by billionaire Nguyen Dang Quang, climbed 0.10 USD to 3.38 USD per share.

This surge in domestic share prices comes as investors anxiously await a decision from FTSE on whether Vietnam's stock market will be upgraded from “frontier” to “secondary emerging” market status.

According to the schedule, in the early morning of October 8 (Vietnam time), after the US market closes on October 7, FTSE Russell will release its September 2025 Country Classification Report. Notably, Vietnam is currently on FTSE's watchlist and is considered highly likely to be reclassified as a secondary emerging market.

This anticipated upgrade is one of the most awaited events for Vietnamese stock investors. Despite foreign investors continuing to sell off heavily in recent quarters, a market upgrade would attract long-term foreign capital. With USD/VND exchange rates stabilizing and robust macroeconomic performance in the first nine months, substantial capital inflows into Vietnamese stocks are expected.

Analysts estimate that if the upgrade is confirmed, Vietnam could attract billions of dollars in foreign investment, further elevating the country’s standing on the global stage.

Vietnam’s stock market could then aim for higher benchmarks such as FTSE’s advanced emerging market category and eventually meet MSCI’s criteria.

BSC Securities forecasts that the upgrade by FTSE Russell will unfold in two phases over a minimum of 6–12 months. For MSCI, Vietnam is expected to enter the potential upgrade list to Emerging Market status between 2026–2027.

Deputy Minister of Finance Nguyen Duc Chi recently affirmed that the government has implemented all necessary measures to ensure sustainable market development, in line with national strategic goals. He noted that achieving an upgrade is just the beginning; the next steps involve maintaining that status and aiming even higher in the future.

At this point, most analysts from leading securities firms believe the probability of an upgrade is very high.

Nevertheless, caution among investors ahead of the decision led to a quiet trading week, low liquidity, and doubts about the market's near-term outlook.

At a press conference on October 6, the General Statistics Office (Ministry of Finance) reported that Q3 GDP is estimated to have grown by 8.23% year-on-year. For the first nine months of the year, GDP expanded by 7.85%, marking the highest rate in 11 years, except for 2022’s post-COVID rebound.

The industrial, construction, and services sectors continue to play leading roles in economic growth. In the first nine months, services grew by 8.49% compared to the same period last year. Consumer demand for goods, services, and tourism remained strong. The value-added for the industrial sector increased by 8.55%, with manufacturing and processing – key drivers of growth – rising 9.92%.

As of 9:55 AM, the VN-Index had climbed nearly 25 points to over 1,670. Vincom Retail (VRE) hit its daily price ceiling, adding 0.09 USD to reach 1.43 USD per share.

Manh Ha