AsemconnectVietnam - Amidst shrinking liquidity, VPS continues to lead the market share in Q3/2026. Anticipating opportunities following its upgrade, the company is strengthening its technology platform and developing long-term investment solutions, expanding its role as a partner with investors.

According to brokerage market share data for Q3/2026 published by the Ho Chi Minh City Stock Exchange and the Hanoi Stock Exchange, VPS Securities Joint Stock Company (HOSE: VCK) continues to lead across all four markets: HOSE stocks 11.54%, HNX stocks 18.15%, UPCoM 14.24%, and derivatives 33.78%.
This result was achieved as market liquidity continued to shrink. The average trading value on the HOSE and HNX was approximately VND18,130 billion per session, a decrease of 46% compared to Q1/2026 (VND33,680 billion per session) and 58% compared to the same period last year (VND42,700 billion per session), returning to a level equivalent to the lows of the second half of 2024. The VN-Index faced resistance as it approached higher points, while deposit interest rates made investors more cautious when allocating capital to stocks.
On the HOSE, foreign investors continued to be net sellers, but the value decreased from VND48,452 billion in Q2 to VND18,066 billion in Q3. Selling pressure from foreign capital has eased, although no clear reversal has appeared. Amidst this cautious trading, VPS maintained its leading position in both the underlying and derivative markets.
Upgrade Opens More Space for Capital Markets
From September 21, 2026, FTSE Russell's upgrade of Vietnam to a secondary emerging market will officially take effect. Vietnamese stocks will be included in global indices in four stages until September 2027. This roadmap opens opportunities to attract capital from index-tracked funds and increases Vietnam's presence in international investment portfolios. In the long term, the upgrade will also create momentum to expand the investor base and deepen the market.
This prospect is linked to the reform direction being promoted domestically. In the Comprehensive Financial Market Reform Plan, the Government identifies the stock market as an important medium- and long-term capital mobilization channel for the economy; developing institutional investors, modernizing infrastructure, and diversifying products are priorities for the coming period.
The Ministry of Finance also emphasized the need to improve governance quality, facilitate foreign investors, and perfect the legal framework for new models. As accessibility and market quality improve, opportunities after the upgrade will have a stronger basis for converting into long-term capital flows to serve businesses and the economy.
In this context, the role of securities companies is becoming increasingly significant. Besides a stable trading system and robust risk management capabilities, the market needs services that cater to institutional investors and solutions that help individual clients manage assets with a long-term perspective. With its market share maintained over many years, VPS continues to invest in technology, improve operational quality, and develop products, gradually expanding the way the company partners with investors.
Building the Future with VPS Smart Indexing
One of the solutions VPS is developing for the new phase is VPS Smart Indexing (VSI), which will be operational from August 2026. Applying the Direct Indexing model, the product addresses a growing need of individual investors: a portfolio for regular, long-term accumulation according to a predetermined financial goal, and a method to maintain that portfolio through market fluctuations.
With VSI, clients directly own the stocks in their portfolio. VPS manages the investment on behalf of the client, combining the expertise of its team of specialists with algorithmic technology to build a portfolio suitable for the client's capital size, monitoring and rebalancing according to established principles. When clients add funds periodically, the new capital is allocated according to the same strategy, ensuring the accumulation plan continues through each investment.
The value of this approach lies in the work that takes place after the initial investment decision. Investors can clearly see each stock they hold, while the calculation of weightings, portfolio monitoring, and adjustments as needed are performed systematically. This also marks a step for VPS in expanding its customer service capabilities: from assisting with transaction execution to supporting the maintenance of a long-term investment strategy.
According to VPS, VSI is the first product in a new generation of solutions. From this foundation, the company will continue to develop products based on investor needs, and together with the Vietnamese stock market, enter the next phase of development.
Source: VITIC/Bao Tai chinh – Dau tu