MarketVector Vietnam Local Index adds three new stocks

MarketVector Vietnam Local Index adds three new stocks

The MarketVector Vietnam Local Index has included Masan Consumer, VPS Securities, and VPBank Securities in its latest quarterly review.

The first-quarter rebalancing of MarketVector Vietnam Local Index, an equity index designed to track the performance of locally listed Vietnamese companies, serving as a benchmark for investors seeking exposure to Vietnam’s domestic stock market, saw the addition of three fast-tracked equities, increasing the total number from 53 to 56.

Masan Consumer (MCH), VPS Securities (VCK), and VPBank Securities (VPX), which listed on the HSX in late 2025, met all liquidity and market capitalisation criteria for early inclusion.

To qualify, these stocks maintained market capitalisation exceeding $150 million and ranked within the top 85 per cent of free-float market capitalisation in the investable universe. They also demonstrated free-float ratio above 10 per cent, sufficient foreign ownership availability, and average three-month daily traded value of more than $1 million.

Following inclusion, MCH, VCK, and VPX held weightings of 6.01 per cent, 2.44 per cent, and 1.21 per cent, respectively. Changes will be implemented on March 20 and take effect March 23.

VanEck Vietnam exchange-traded fund (ETF), which uses the index as benchmark, scheduled significant portfolio adjustments to align with the new structure.

HSC Research estimated the ETF to purchase approximately 11.6 million shares (VCK 6.3 million shares of MCH, and 5.8 million shares of VPX). The ETF will also acquire over 10 million shares of VIX Securities during the rebalancing period.

Conversely, the rebalancing process triggered substantial selling activity for several major stocks.

VanEck Vietnam ETF was expected to offload around 4.4 million shares of Hoa Phat Group, 3.1 million shares of SSI Securities, and 2.8 million shares of SHB.

These adjustments reflect shifting weightings within the index, where Vingroup (VIC) and Vinhomes currently hold the largest allocations at 8 per cent each.

Broader market movements were expected as other benchmark indices underwent quarterly restructurings.

According to SSI Research, STOXX Vietnam Total Market Liquid Index removed Hoa Sen Group from its 28-stock basket during this period.

Xtrackers Vietnam Swap UCITS ETF, which tracks the index with $352 million in assets, was forecast to buy nine million shares of STB, 5.1 million shares of FPT, and 3.2 million shares of Vinamilk.

Selling pressure for the fund was concentrated on Novaland (NVL), VIC, and DIG, with projected sales of 9.43 million, 5.9 million, and 5.1 million shares, respectively.

Meanwhile, the FTSE Vietnam 30 Index announced no changes to its constituent list in the first quarter.

SSI Research estimated that the $405.6 million Fubon FTSE Vietnam ETF added 3.9 million HPG shares, 2.9 million BSR shares, and 2.4 million SSI shares.

These purchases were offset by the estimated sale of 7.1 million shares of VIC. All changes across these three indices became effective on March 23.

Vietnam’s ETF flows showed signs of stabilisation in early 2026, as the aggressive capital flight seen throughout the previous year began to taper.

Following a modest $20.8 million inflow in January, net outflows in February narrowed to a marginal $5.2 million, according to a FiinGroup report.

This shift marks a significant pivot from 2025, a year defined by a stark decoupling of market performance and investor behavior; despite the VN-Index surging more than 40 per cent, foreign investors offloaded a record $5 billion in net ETF outflows.

Market sentiment is currently bolstered by the upcoming FTSE Russell reclassification. Vietnam is slated for an upgrade to Secondary Emerging Market status on September 21, with an interim review scheduled for this month to confirm the transition.

VIR