Foreign ownership limits (FOL) remain the most significant obstacle to Việt Nam's market upgrade process.

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Activity on the market still appeared subdued as capital inflows had not yet shown a decisive breakout and foreign investors continued net selling.

One of the regulator's key priorities will be the development and implementation of a central counterparty clearing (CCP) mechanism, which is expected to become operational in the first quarter of 2027.

A review by the State Securities Commission of Vietnam found that 67 out of 789 equitised enterprises failed to meet shareholder structure requirements, including 21 State-owned parent firms and 46 subsidiaries.

The VN-Index swung from a deep fall to a near-flat finish within the same afternoon as investors shifted rapidly from a cautious posture to aggressive deployment of capital.

Fitch Ratings has praised Việt Nam’s macroeconomic resilience and policy management, saying continued reforms and stable growth will support the country’s sovereign credit outlook.

The Government has set a target of achieving double-digit economic growth during the 2026-2030 period, increasing pressure on state-owned enterprises to expand production and business activities beyond the limits of existing resources.

Securities companies maintained cautious but generally constructive views on the market's medium-term outlook amid the ongoing volatility.

The VN30-Index, tracking the 30 biggest stocks on HoSE, reportedly gained more than 25 points and acted as the market's primary driver.

Persistent foreign selling and sharp losses in property shares dragged the VN-Index lower on Wednesday, despite stronger trading activity and gains in energy stocks.

Even with the sell-off pressure, the benchmark index held its positive tone due to the pull from heavyweight stocks.

Experts noted that inclusion in the FTSE Emerging Markets Index does not necessarily ensure sustained growth, as market trends are more heavily influenced by macroeconomic dynamics.

April's market will continue to face geopolitical risks, rising interest rates and elevated margin financing, while the economy still has room for support.

Deloitte has estimated the upgrade could attract up to US$6 billion in foreign inflows, bolstering liquidity, market depth and demand for IPOs in coming years.

Under the circular, individual investors, regardless of residency status, who transfer crypto assets through service providers must pay personal income tax at a rate of 0.1 per cent of the value of each transaction.

In recent years, transactions in unlisted shares have sometimes been treated like securities transfers and taxed at the 0.1 per cent rate.

Adding pressure to the market's sentiment, foreign investors accelerated net selling, offloading more than VNĐ1.9 trillion on HoSE.

The airline sector appears particularly vulnerable, as higher oil prices inflate fuel costs and travel demand tends to weaken amid geopolitical instability.

Foreign trading contributed negatively, with foreign investors recording a net sell of over VNĐ1.3 trillion on HoSE and VNĐ81.75 billion on HNX.

VinaCapital analysts believed the impact of Middle East tensions on Việt Nam’s economy will likely remain short-term and moderate, while market fluctuations could create opportunities for long-term investors to accumulate stocks at more attractive valuations.

Structural reforms, stable FX and attractive valuations are reshaping foreign investor sentiment toward Việt Nam in 2026.

Michael Kokalari, CFA and chief economist at VinaCapital, said the three main dynamics expected to drive GDP growth in 2026 are a modest recovery in consumption, the infrastructure–real estate growth nexus, and resilient exports to the US.

The VN-Index may experience a technical adjustment towards the support level of 1,800-1,810 points in the near future, before resuming a more positive trend.

The number of investor accounts surpassed 11 million, exceeding the government's target of 9 million accounts by 2025 and meeting the 2030 target ahead of schedule under the national stock market development strategy.

The upswing was primarily driven by large-cap stocks, particularly from the Vin stocks and technology sector.

The Ho Chi Minh Stock Exchange has released its brokerage market share rankings for equities, fund certificates and covered warrants for the fourth quarter and the full year of 2025, highlighting notable shifts among the top 10 securities firms.