Stock market sector climbs on upgrade news; which stocks are likely to attract substantial foreign inflows

Stocks in Vietnam’s market surged on upgrade-related news, with liquidity rising sharply and familiar names among the stock group posting strong gains. Leading shares such as SHS, SSI, BVS, VND, and TCI rose more than 4% as trading activity increased. Liquidity expanded as VIX matched over 56 million shares traded, while SSI traded nearly 29 million units. HCM, VND, and VCI also featured among the market leaders.

Upgrade pathway: FTSE Russell inclusion and MSCI watchlist expectations

Following FTSE Russell’s inclusion of Vietnam in the Secondary Emerging Markets list, the market is now looking toward a potential move into MSCI’s Watch List. Institutional investors typically focus more on MSCI due to its larger capital base, and being placed on MSCI’s watchlist is viewed as a milestone that could help attract longer-term foreign investment into Vietnam.

In an SSI Research report, Vietnam is considered highly likely to be placed on MSCI’s watchlist in the June 2026 review, described as a stepping stone toward an upgrade to emerging market status. With the June review approaching, coordinated improvements in market mechanics, liquidity, and accessibility are expected to support a potential inflection point for Vietnam in global capital markets.

Earlier, VPS Chairman Nguyen Lâm Dũng said talks with MSCI to upgrade the market could be likely. If realized, he indicated foreign capital inflows could be four to five times higher.

Market mechanics: liquidity boost and implications for brokers

In practice, liquidity growth tends to benefit brokerage and trading services. Sustained high trading volumes can support brokerage and trading revenue, while demand for margin financing may rise as investors rebalance portfolios. These effects are expected to partially offset any negative sentiment tied to broader market corrections.

A Maybank report highlighted foundational factors such as capital market development and the upgrade potential assessed by global rating agencies as drivers shaping investor strategies. With sector price-to-book ratios around 1.85, Maybank pointed to upside potential for leading stocks including SSI, VCI, VND, and TCX depending on scenarios.

Maybank also noted that geopolitical risks could continue to drive short-term volatility, but brokers may still benefit from structural trading momentum. Maintaining high liquidity remains a key support for sector earnings.

FTSE Russell stock list update and potential foreign inflows

Separately, FTSE Russell has updated the list of Vietnam stocks meeting non-index inclusion criteria. The list has been trimmed to 23 tickers, including SSI, VIX, VCI, and VND, signaling potential for foreign capital inflows of more than $120 million.