On 10 November 2026, the Hanoi Stock Exchange (HNX) held its 2026 annual enterprise conference, focusing on information transparency and improving corporate quality. The event also served as a farewell to listed companies that will move to the Ho Chi Minh City Stock Exchange (HOSE) at the end of 2026.

Market picture

According to figures presented at the conference, the combined capitalisation of HOSE, HNX and UPCoM reached about VND10.1 quadrillion by the end of October. Capital raised through the stock market in the first nine months reached VND731.6 trillion, up 85.6%. Investor accounts numbered nearly 14.4 million.

HNX currently has 299 listed companies with a market capitalisation of more than VND453 trillion. In ten months, government bond auctions through HNX reached VND368.4 trillion, 92% of the annual plan. FTSE Russell upgraded Vietnam to secondary emerging market status from September 2026, but as one speaker noted, the upgrade "is not the final destination".

Transfer that protects investors

According to Bnews, State Securities Commission Vice Chairman Nguyen Hoang Duong asked the two exchanges to coordinate so that the transfer of listed shares to HOSE follows regulations and the timetable and does not affect shareholders' and investors' rights. HOSE will organise trading by boards, with board criteria to be announced soon.

HNX Director General Vu Thi Thuy Nga described the move as the next step in the market's restructuring.

A new role for HNX

After the transfer, HNX will focus on running the bond and derivatives markets, keep UPCoM as a preparation stage before listing, and study new markets, including one for start-ups. According to the Vietnam Financial Times, HNX plans to split UPCoM into boards to identify risk groups and firms eligible for listing.

On transparency, late filing of reviewed half-year financial statements stood at 2.8% on the listed market and 8.6% on UPCoM, showing ample room for improvement among UPCoM firms.

Key takeaways