Vietnam Daily Market Recap Jan 7, 2026

Stocks surge to fresh record high, led by state-owned tickers  

The VN-Index opened higher on Wednesday, traded in positive territory throughout the session, and closed up 2.5% to reach an all-time high for a second day at 1,861.6. Market liquidity surged, with total trading value climbing 19.8% DoD to VND33.1tn (USD1.3bn). The HNX Index followed the same pattern as the VN-Index, surging 1.2% to close at 249.4. 

Many large state-owned tickers surged today, including PLX (+7.0%), GVR (+7.0%), BSR (+7.0%), as investors reacted to news that these companies might lose their public company status due to failing the mandatory 10% free-float requirement. Giants like ACV, GAS, and BSR are currently under pressure to increase non-majority shareholdings, leading to market speculation that the State will soon accelerate divestment plans to maintain their listed status.  

On the other hand, STB (-5.8%) plunged today, as investors reacted to an unexpected Q4 loss and annual profits hitting only 52% of the bank’s target due to a massive VND9tn (USD342mn) spike in bad debt provisioning. This drastic move to address a 6.3% non-performing loans ratio reflects an aggressive strategy to clear legacy issues by a new leadership team. However, this triggered a sharp sell-off over immediate asset quality concerns. 

Top performers today included VIC (+3.4%), VHM (+5.4%) and VCB (+4.0%), while top laggards included STB (-5.8%), VPL (-2.3%) and GEE (–2.0%).     

Foreign investors net bought today with a total value of VND522bn (USD19.9mn), focusing on FPT (VND286bn, USD10.9mn), HPG (VND220bn, USD8.4mn) and VIC (VND174bn, USD6.6mn). On the other hand, net selling was heavily focused on STB (VND1.1tn, USD43.5mn), as foreign investors reacted to the bank’s earnings surprise. They also net sold VHM (VND170bn, USD6.5mn) and KDH (VND53.3bn, USD2.0mn). 

Read the full report: HERE