SSI Sees VN-Index Reaching 2,120 in H2 2026 as GDP Growth Nears 10%
Updated
Updated · Theinvestor.vn · Jun 10
SSI Sees VN-Index Reaching 2,120 in H2 2026 as GDP Growth Nears 10%
1 articles · Updated · Theinvestor.vn · Jun 10
Summary
2,120 points is SSI Research’s optimistic H2 2026 target for Vietnam’s benchmark index, with a base-case forecast of 1,920 after what it called a consolidation phase.
8.5%-9% GDP growth for 2026 and near-10% expansion in H2 underpin that view, driven by faster public investment, stronger manufacturing FDI and easing inflation pressure.
$9.75 billion in disbursed FDI during the first five months—up 9.6% and the highest in five years—adds support, while only 21.6% of this year’s public investment plan had been spent in H1.
$1.4 billion in passive inflows could arrive in 2026-2027 if FTSE Russell upgrades Vietnam to Secondary Emerging Market status from September 2026, partly offsetting nearly VND65 trillion in net foreign selling seen in the first five months.
VND424 trillion in margin debt, rising bank bad loans and the VN-Index’s reliance on a handful of Vingroup-linked large caps remain key risks even as SSI argues valuations are still attractive.
Is Vingroup's massive influence a pillar of strength for Vietnam's stock market or its greatest systemic risk?
With bad debts rising and capital still exiting, can Vietnam’s market upgrade truly ignite a historic bull run?
VN-Index 2026–2030: Vietnam’s Path to Emerging Market Status and the Impact of Foreign Inflows
Overview
Vietnam's stock market in mid-2026 offers attractive valuations, with considerable investment opportunities across various sectors. Rather than leaving the market, capital is rotating between different stock groups, supporting ongoing growth. Strong infrastructure spending and industry consolidation are driving robust earnings in construction materials and consumer-related sectors, while healthy credit demand is helping the financial sector maintain steady growth. These sector-specific drivers, combined with the overall appealing market valuation, are shaping a positive outlook for the VN-Index through the second half of 2026.