Launched on February 6, 2012, the VN30 index quickly established itself as an important measure in the Vietnamese stock market, representing the 30 stocks with the largest market capitalization and highest liquidity on the Ho Chi Minh City Stock Exchange (HOSE). As of June 30, 2025, the VN30 index accounted for 68.78% of the total market capitalization of the entire stock market listed on the Ho Chi Minh City Stock Exchange, clearly demonstrating the outstanding representativeness and influence of this index.
Not only is the VN30 a reference index for trading activities, it also plays an important role as the underlying asset for many popular financial products such as exchange-traded funds (ETFs), index futures and covered warrants. With that role, maintaining the stability, objectivity and high quality of the VN30 index is always an important goal in the process of operating and developing the stock market.
In order to adapt to the actual situation and improve the quality of the index, Ho Chi Minh City Stock Exchange has researched and improved the VN30 Index Rules. On December 30, 2024, with the approval of the Vietnam Stock Exchange, Ho Chi Minh City Stock Exchange issued the Rules for the construction and management of the HOSE-Index (including the VN30 Index) version 4.0 according to Decision No. 747/QD-SGDHCM and officially put it into effect from March 2025.
One of the highlights applied from the April 2025 index basket update is the limitation of the capitalization ratio by sector at 40% in the VN30 index. This regulation aims to allocate reasonable proportions among sectors, minimize risks when a sector accounts for too high a proportion, and increase the balance and representation of the index. Thanks to that, VN30 is expected to maintain better stability, limiting the negative impact from cyclical fluctuations of a specific sector.
By the regular basket filtering period of July 2025, the Ho Chi Minh City Stock Exchange will officially apply a new set of screening criteria according to the HOSE-Index Rules version 4.0 to select constituent stocks of the VN30 index. The criteria this time have been comprehensively upgraded and improved, demonstrating the orientation of integration and approaching international standards in index construction.
Firstly , in terms of liquidity criteria, the constituent stocks must meet higher requirements on trading volume and value. Specifically, the minimum average matched transaction value is raised from VND10 billion to VND30 billion, the minimum matched transaction volume is raised from 100,000 shares to 300,000 shares. In this July basket filtering period, BVH shares were removed from the index basket due to not meeting the matched transaction value criteria and were replaced by DGC shares - a business with more outstanding liquidity according to the new criteria.
Second , regarding the basic quality criteria of the enterprise, stocks are only included in the VN30 basket if the enterprise has a non-negative after-tax profit in the most recent audited or reviewed financial report. This condition is to exclude enterprises with unstable business results, ensuring that the index basket includes stocks that are not only large in size and liquidity but also have a stable financial foundation. At the same time, the enterprise's financial report must have no audit opinion excepted - a factor of international standards, helping to increase the transparency and reliability of the index.
The application of the Rules for Building and Managing the HOSE-Index Version 4.0 is not only a technical improvement but also demonstrates the effort to upgrade the Vietnamese stock index system. Standardizing criteria, increasing the representativeness and quality of the VN30 index contributes to affirming the role of guiding and supporting the development of derivative financial products, thereby promoting the transparency and professionalism of the capital market, enhancing the reputation of domestic and foreign investors.
This step is a testament to the commitment to reform and integration of the Ho Chi Minh City Stock Exchange in particular and the Vietnamese stock market in general in the process of approaching international standards, creating a solid foundation for the market upgrading process in the near future.
Source: https://nhandan.vn/cai-tien-chi-so-vn30-nang-chat-luong-tiem-can-chuan-muc-quoc-te-post896582.html
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