Vietnamese financial stocks will be sold heavily by ETFs: broker

The group of banking, securities and insurance stocks in VN30, which comprises 30 largest caps on the Ho Chi Minh Stock Exchange, will be sold by ETFs by millions of units, given the deadline for their portfolio restructuring being April 25, said Vietnam's leading broker SSI Securities.

As the new information technology system KRX is expected to operate from May 5, the effective date of the new indexes has been moved from May 5 to April 28.

As a result, the relevant exchange-traded funds (ETFs) will restructure their portfolios with the deadline being April 25.

The VN30 Index has no changes in composition this period. However, the HOSE Index version 4.0 rules add a 40% limit on the capitalization weight of a group of stocks in the same industry.

SSI Research estimates that the weight of the financial group in the VN30 Index basket will decrease from the current level of 60% to 40%. On the contrary, the weight of stocks in other industries will increase at a corresponding rate.

According to estimates based on stock prices on April 16, SSI Research notes that some stocks were bought in large volumes, including HPG of Hoa Phat Group (11.2 million shares), VIC of Vingroup (3.4 million shares), and MWG of Mobile World Investment Corporation (3.2 million shares).

On the selling side were stocks in the financial sector such as VPB of VPBank (9.5 million shares), TCB of Techcombank (8.4 million shares), ACB of Asia Commercial Bank (7.4 million shares), SHB of Saigon-Hanoi Bank (6.3 million shares), and MBB of Military Bank (6.2 million shares).

Currently, there are four ETFs using the VN30 index as a reference, including DCVFMVN30 ETF, SSIAM VN30 ETF, KIM Growth VN30 ETF, and MAFM VN30 ETF.

The total net assets of these ETFs were estimated at VND7,950 billion ($307.18 million) as of April 16. Of which, the DCVFMVN30 ETF alone has a total asset under management (AUM) of VND5,200 billion.

Since the beginning of 2025, the total asset value of this fund has decreased by 22.75% and NAV has decreased by 2.7%, with the net capital withdrawal value at VND1,270 billion ($49.07 million).