FTSE Russell Lists 23 Vietnam Stocks for Index Review, VIC Leads with $498M Inflow

Overview

FTSE Russell has updated its list of 23 Vietnamese stocks that meet the criteria for inclusion in its global equity indices, with an estimated $1.3 billion in foreign inflows expected. Vingroup (VIC) leads the pack with an estimated $498 million, followed by HPG, VHM, FPT, and MSN. The official announcement for the semi-annual review is scheduled for August 21, 2026.

Key Facts

• FTSE Russell updated its watchlist to 23 stocks from 32 previously.
• Total estimated foreign inflows from FTSE-linked ETFs: $1.3 billion.
• VIC leads with $498 million, equivalent to 14.6 trading days of volume.
• Other top inflows: HPG ($115M), VHM ($99M), FPT ($69M), MSN ($63M).
• Vietnam’s weight in FTSE Emerging All Cap fell to 0.329% from 0.350%.
• Official changes to be announced from August 21, 2026.
• Banking stocks included: VCB, STB, SHB, BID; real estate: VRE, NVL, KBC, KDH.

What Happened

According to a report from SSI Research, FTSE Russell has updated the list of stocks that meet the conditions for inclusion in its FTSE Global Equity Index Series (GEIS). The list has been narrowed to 23 stocks from 32 previously. The adjustments are based on data as of March 31, 2026, and the official changes will be announced before the September 2026 review, with the semi-annual review results expected from August 21, 2026.

FTSE Russell also revised Vietnam’s weight in its global indices: the weight in FTSE Emerging All Cap decreased from 0.350% to 0.329%, in FTSE All-World from 0.024% to 0.020%, and in FTSE Emerging from 0.227% to 0.192%. The estimated foreign inflows of $1.3 billion are driven by major ETFs such as Vanguard Total International Stock ETF and Vanguard FTSE Emerging Markets ETF.

Market Context

On April 15, 2026, VIC closed at VND 177, up 6.95% on high volume of 6.36 million shares, reflecting positive sentiment ahead of the FTSE news. HPG closed at VND 28 (-1.75%), VHM at VND 138 (+6.83%), and FPT at VND 75 (-1.31%). The broader market has been volatile, but the FTSE update provides a catalyst for foreign inflows, particularly for large-cap stocks like VIC, which trades on HOSE. The banking and real estate sectors are well-represented in the watchlist.

Strategic Significance

For long-term investors, the FTSE review underscores Vietnam’s growing integration into global equity indices. The inclusion of 23 stocks, led by VIC, signals that foreign investors are likely to increase allocations to Vietnamese equities, especially blue-chips with high liquidity. The estimated $1.3 billion inflow could provide significant support to stock prices and reduce volatility. However, the reduction in Vietnam’s index weights suggests that the country’s relative market capitalization has declined, which may temper overall flows. Investors should monitor the final list and actual ETF rebalancing.

What to Watch

• Official FTSE announcement on August 21, 2026, for the final list of stocks.
• Actual foreign net inflows into VIC and other top candidates in the weeks following the review.
• Changes in Vietnam’s index weights in subsequent FTSE reviews.
• Q2 2026 earnings reports for VIC, HPG, VHM, and other watchlist stocks.
• Any regulatory changes affecting foreign ownership limits or market accessibility.