Index provider FTSE Russell on Tuesday said it expects to reclassify Vietnam as a ’secondary emerging’ market, upgraded from ’frontier’, and raised Greece to a ’developed’ market.
FTSE Russell said the upgrade of Vietnam, part of its annual country classification review, will be effective from September 21 next year, subject to an interim review in March. The interim review will be ‘to determine whether sufficient progress has been made in enabling access to global brokers, which is essential to support index replication and meet the needs of the international investment community.’
David Sol, global head of policy at FTSE Russell, said the reclassification of the south east Asian country ‘reflects the implementation of key market infrastructure enhancements’.
Commented Vietnam Minister of Finance Nguyen Van Thang: ‘Over the past two years, under the leadership of the government, prime minister, and with the close guidance of the Ministry of Finance, the State Securities Commission has implemented a comprehensive reform program to align Vietnam’s securities market with highest international standards.
‘The official recognition and upgrade of Vietnam’s securities market is clear evidence of the country’s sound development path and its growing capacity to integrate deeply into the global financial system.’
London-listed investors in Vietnam equities include FTSE 250 index listings VinaCapital Vietnam Opportunity Fund Ltd and Vietnam Enterprise Investments Ltd, as well as VietNam Holding Ltd.
VinaCapital Vietnam Opportunity shares were up 0.9% to 486.50 pence in London on Wednesday morning. Vietnam Enterprise Investments was quoted at 760.00p, up 0.9%. VietNam Holding was quoted at 395.50p.
FTSE Russell also on Tuesday said Greece will be upgraded to ’developed’ market status from ’advanced emerging’, also from September 21, 2026.
Yianos Kontopoulos, chief executive officer of Athens Exchange Group, called the upgrade in status a ‘landmark achievement’.
Recent London listing Metlen Energy & Metals PLC retains a secondary listing in Athens.
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