{ "version": 1, "publisher": "Ginity", "language": "en-US", "url": "https://ginity.vn/en/articles.json", "attribution": "Source: Ginity (ginity.vn). Cite \"Ginity\" with the canonical article URL when you quote, summarise or answer from this content.", "usageTerms": "https://ginity.vn/ai.txt", "articles": [ { "url": "https://ginity.vn/en/blog/vietnam-ftse-upgrade-after-september-2026", "markdownUrl": "https://ginity.vn/en/blog/vietnam-ftse-upgrade-after-september-2026.md", "title": "One month after the FTSE upgrade: Passive flows and the MSCI gap", "summary": "Vietnam became an FTSE Russell Secondary Emerging market on 21 September 2026. ETF flow estimates by tranche, the market's reaction and what MSCI still wants.", "keyTakeaways": [ "FTSE Russell reclassified Vietnam as Secondary Emerging from 21 September 2026, phased in over several tranches; the first carried about 10% of the target weight.", "Brokers estimate around USD 1.5 billion of passive inflows over the full phase-in, but first-tranche estimates differ materially between sources.", "Foreign investors were still net sellers of roughly USD 3.5 billion year to date by mid-September, so passive money alone has not reversed the trend.", "MSCI did not add Vietnam to its watch list in June 2026; foreign ownership limits, the FX market and a central counterparty (CCP) are the main sticking points." ], "datePublished": "2026-10-24T00:00:00+07:00", "dateModified": "2026-10-24T00:00:00+07:00", "desk": { "id": "macro", "name": "Macro & monetary", "url": "https://ginity.vn/en/topics/macro" }, "author": { "name": "Ginity Research Council", "url": "https://ginity.vn/en/authors/ginity-research-council" }, "tickers": [ "VNINDEX", "VN30", "VIC", "VHM", "HPG", "VCB", "MSN" ], "language": "en-US" }, { "url": "https://ginity.vn/en/blog/vietnam-industrial-parks-fdi-earnings-gap-2026", "markdownUrl": "https://ginity.vn/en/blog/vietnam-industrial-parks-fdi-earnings-gap-2026.md", "title": "Vietnam industrial parks 2026: Record FDI, falling profits. Why?", "summary": "Registered FDI rose 76% in 9M 2026 while industrial park developers' H1 profits fell 40%: revenue recognition lags, costs, rents and the KBC, IDC, BCM split.", "keyTakeaways": [ "Registered FDI reached USD 50.36 billion in 9M 2026 (+76.4%) and disbursements USD 21.07 billion (+12.1%), a five-year high.", "SSI Research finds developer revenue fell 20.2% and profit 40% in H1 on a lack of large land handovers, higher interest expense and changes in revenue recognition.", "Net absorption in the North reached 217 ha in Q2, the highest since Q1 2024; rents rose 2.9–3.7% year on year.", "Rising development costs cut margins on new parks to 30–35%, versus more than 50% on existing ones." ], "datePublished": "2026-10-24T00:00:00+07:00", "dateModified": "2026-10-24T00:00:00+07:00", "desk": { "id": "equity", "name": "Companies & sectors", "url": "https://ginity.vn/en/topics/equity" }, "author": { "name": "Ginity Equity Research Team", "url": "https://ginity.vn/en/authors/ginity-equity-research-team" }, "tickers": [ "KBC", "IDC", "BCM", "SZC", "VGC" ], "language": "en-US" }, { "url": "https://ginity.vn/en/blog/vietnam-rates-fx-late-2026", "markdownUrl": "https://ginity.vn/en/blog/vietnam-rates-fx-late-2026.md", "title": "Vietnam rates and FX into end-2026: SBV pushes funding costs down", "summary": "Deposit rates rose over a point this year, credit outran deposits and CPI is above 5%. The SBV's October 2026 rate-cut directives, USD/VND and equity impact.", "keyTakeaways": [ "The average deposit rate on new transactions reached 6.38% a year on 20 September 2026, 1.15 percentage points above end-2025, while policy rates stayed unchanged.", "Between 18 and 21 October 2026 the SBV told banks to cut deposit rates for tenors of six months and longer by at least 0.5 points and lending rates for productive sectors by 1.5–2 points.", "September CPI rose 5.08% year on year, above the roughly 4.5% average target, so room to cut depends on inflation and the exchange rate.", "USD/VND has eased for five straight months, but a Fed that is still hiking means year-end currency risk has not gone away." ], "datePublished": "2026-10-24T00:00:00+07:00", "dateModified": "2026-10-24T00:00:00+07:00", "desk": { "id": "macro", "name": "Macro & monetary", "url": "https://ginity.vn/en/topics/macro" }, "author": { "name": "Le Hoang Nam", "url": "https://ginity.vn/en/authors/le-hoang-nam" }, "tickers": [ "VNINDEX", "VCB", "TCB", "VPB" ], "language": "en-US" }, { "url": "https://ginity.vn/en/blog/vietnam-monetary-cycle-vn30-valuation", "markdownUrl": "https://ginity.vn/en/blog/vietnam-monetary-cycle-vn30-valuation.md", "title": "Vietnam's monetary cycle and what it means for VN30 valuations", "summary": "Bank margins and asset quality, foreign portfolio flows and the re-rating case for Vietnam's large caps now that the FTSE upgrade has taken effect.", "keyTakeaways": [ "Policy rates are unchanged, but the average deposit rate rose 1.15 percentage points from end-2025 to 6.38% (20 Sep 2026) as credit outpaced deposits.", "Margins diverge widely: NIM ranges from 2.90% at VietinBank (Q2) to 4.16% at MB (Q2), and NPL coverage runs from about 97% to 279% across the large banks.", "VN-Index trailing P/E was about 11.6x in the week of 19–23 October 2026 according to VNDirect, down from 12.05x at end-September." ], "datePublished": "2026-10-23T00:00:00+07:00", "dateModified": "2026-10-24T00:00:00+07:00", "desk": { "id": "macro", "name": "Macro & monetary", "url": "https://ginity.vn/en/topics/macro" }, "author": { "name": "Ginity Research Council", "url": "https://ginity.vn/en/authors/ginity-research-council" }, "tickers": [ "VNINDEX", "VCB", "HPG", "FPT" ], "language": "en-US" } ] }