Vietnam stocks may be upgraded to emerging market status

FTSE Russell announced that the 2024 annual stock market rankings will be announced after the US stock market closes on October 8, instead of September as usual.

The organization said that market classifications in FTSE Russell global equity indices are constantly reviewed. To ensure transparency, markets that are under consideration for reclassification or transition to developed market, advanced emerging market, secondary emerging market, or frontier market status will be placed on the organization's watch list.

Illustration photo. (Source: ST)

In this announcement, FTSE will have 3 markets included in the watch list from March 2024: Egypt, Pakistan and Vietnam.

Specifically, the Egyptian market could be reclassified from secondary emerging market status to unclassified. The Pakistani market could be reclassified from secondary emerging market status to frontier market. In particular, the Vietnamese stock market could be reclassified from frontier market status to secondary emerging market status.

Regarding the work of perfecting the standards for upgrading the Vietnamese stock market, the management agency has completed the draft Circular amending 4 circulars related to foreign institutional investors being able to buy securities without having enough money (Non Pre-funding solution - NPS) and the roadmap for information disclosure in English.

Source: https://www.congluan.vn/chung-khoan-viet-nam-co-the-duoc-nang-hang-len-thi-truong-moi-noi-post310140.html