Daily Market Watch 06/05/2026: MSCI EM Inclusion Expectation and Other Upbeat Catalysts Lift Stock Prices

MARKET HIGHLIGHTS

o       The market opened strongly in the morning session, driven by early gains in Vingroup stocks as their momentum maintained. However, the large-cap VN30 Index quickly reversed with negative breadth, dragging the VN-Index below the reference level by midday. VIC and VHM weakened and negatively impacted sentiment. While small-cap stocks moved narrowly amid low liquidity. Interestingly, a number of mid-cap names attracted stronger inflows, led by the Gelex group. Those stocks traded positively as a result.

o       Gelex-related stocks (GEX, GEE, VIX) surged on a combination of positive catalysts, including: (1) five securities firms were approved in the first round of licensing for digital asset trading services, including VIX; (2) today is the record date for GEX's issuance of 225.6 million shares for FY2025 dividends and 180.5 million shares for equity expansion, the stock just jumped strongly as its market price was adjusted down accordingly; and (3) solid Q1 results: GEX Q1 profit is reported to grow by 24.9% YoY. Both GEX, GEE, and VIX rallied over 2% in the morning before surging to limit-up levels in the afternoon as digital asset-related news gained traction. Other related names also posted solid performance, including GEL, EVF, VGC, etc.

o        FTSE released a list of 23 eligible stocks (down from the initial list of 32 stocks) for potential inclusion based on non-constituent screening. The list includes VIC, HPG, VHM, FPT, MSN, SSI, VNM, STB, VCB, VJC, VRE, VIX, NVL, VCI, SHB, GEX, VND, KBC, KDH, BID, DGC, BSR, and GEE. The final list will be announced ahead of the FTSE GEIS review in September 2026. Meanwhile, nine stocks were excluded from the previous scanning round, including SAB, DPM, HUT, DIG, EIB, DXG, PDR, FRT, and KDC.

o        The market rebounded strongly in the afternoon, led by Brokerage stocks amid the digital asset theme and FTSE EM related news. Besides, a large broker released its expectation that the MSCI EM watchlist inclusion for Vietnam may occur in June. Those catalysts triggered a great excitement among retail investors. Brokerage stocks increased strongly after a dissapointing period in the past several weeks. 26 brokerage stocks hiked over 2%, with VIX and HCM hitting limit-up. The VN30 basket also improved significantly. Positive momentum broadened across the market, supported by strong retail inflows. The VN-Index closed up 0.9% (+16.35 pts) at 1,891 pts, approaching the 1,900 pts level. Market breadth turned positive with 202 gainers versus 110 decliners.

o        Liquidity well improved from the previous session as retail investors were more active. They were excited with the broad market gains and engaged more stock exposures. Total trading value on HoSE reached USD 916mn (+6.5% DoD). Foreign investors remained net sellers with outflows of USD 42.6mn, focusing on FPT (-USD 17.5mn), ACB (-USD 8.2mn), and HPG (-USD 8.2mn). They have been selling consistently in the last 10 trading days. On the buy side, notable inflows were seen in POW (+USD 7.8mn), MSN (+USD 5.6mn), and DGC (+USD 3mn).